The economy storming the world

The German business press is bubbling with delight. Following Handelsblatt’s front page lead with “Germany, the slot machine," it’s the Financial Times Deutschland’s turn to brag: "German industry is storming the global economy." The reason for the delight can be found in the World Investment Report, released on July 26 by the United Nations. Since 2008 foreign investments by the French, British and Japanese have gone into free-fall, while investments from Germany have gone up by 35 percent, making Berlin the second largest investor in the world after the United States. Emerging countries, led by China, have attracted half of the investments. Once merely cheap production factories, those countries are increasingly becoming consumer markets. In its editorial, FT Deutschland sees a chance to put an end to German gloom: "Anyone who has struggled in recent years to follow the debates, watch TV or read books on decline came away with one thing: Germany is losing [...]. But the fears were exaggerated. [...] Investing in production facilities abroad benefits everyone. The economy is not a zero sum game."