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Germany's strength lies in 'old economy'

Clipped to the Drawing Board by Dave Ellery  
HANNOVER, Germany: With nearly a decade of hindsight, German manufacturers find they can look back on the painful opening years of the millennium with a certain degree of satisfaction.

Then, "Made in Germany" was less a label connoting quality than a millstone around their necks that suggested high prices and mystifying engineering. Labor costs in Germany, the largest economy in Europe, had spun out of control, and German companies had been slow to head for Eastern Europe and Asia - places that looked like the true future of manufacturing.
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Friday 23 May, 2008 02:31 AM
 
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