Changes in Leading Countries’ Shares of World Exports between 1991 & 2001
• The analysis below reinforces the view that Japan & Germany are in secular economic decline. In terms of world export share lost, France’s performance is even worse than Germany’s. Germany & France account for over half of Eurozone GDP, so it is difficult to sustain a benign long-term prognosis for the Eurozone and its currency.
• The USA is the only major developed nation to have held market share over the last decade. In keeping with its “mid-Atlantic” economic status, the UK has done less well than the USA, but far better than the rest of the EU, particularly the Eurozone “core” of Germany & France.
• China/Hong Kong’s rise as a major exporting nation is confirmed.
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