Weak Euro Spells Trouble for U.S., China

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BRUSSELS — With the euro plunging and budgets across the continent tightening, European Union member states are betting on an export-driven recovery from recession and the current debt crisis. A cheaper euro has allowed the eurozone export sector to regain competitiveness, as the common currency has fallen against the dollar from $1.50 to a four-year low of $1.20. At the same time, the eurozone’s external trade surplus showed a year-on-year increase in March, growing from €1.6 billion in 2009 to €4.5 billion this year. Year-on-year industrial production also grew by €9.5 billion from April 2009 to April 2010. The euro’s […]

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