Robin Brooks says: "German industry is undergoing a massive shift and retooling. Whole sectors of production have become unprofitable and certain product lines have been shut down, never to reopen. Chemicals and pharmaceuticals are the prime example. Output is down -15% from a year ago." I'll point out that this is good news for U.S. industry, as German industry relocates to a source of cheap energy (the U.S.). Also, stronger Chinese demand will boost European trade significantly #CoSoFinance