经济学人外刊原稿(6)

has withstood dictatorship, wars, revolutions and globalisation. It prizes trust, relying on the principle that nobody will

"make full use of his freedom" by grabbing everything he can, says Wemer Abelshauser, an economic historian at the University of Bielefeld. Its elements are "so

I Off balance

Current-account balances,% of GOP

- Germany - Euro area - United States

Britain France - Ita ly

8

6

4

2

~~~~~

4

-..--.-..-~~~~----~- 6

1997 99 2001 03 05 07 09 121

Source: IMF Estimate !Forecast

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