As the US Buys Less, Germany Suffers

http://www.cnbc.com/id/28430243
Virtually all economists expect 2009 to be a lost year for Germany, which will pay a heavy price for the downturn
Jacques Cailloux, chief Europe economist at Royal Bank of Scotland in London, has established a strong correlation between Chinese exports to the United States and German exports to China
The American trade deficit in 2007 was $708.5 billion; Germany’s $288.5 billion surplus and China’s $262.2 billion excess represent much of the other side of that equation.