Advanced economies with relatively high manufacturing shares tend to have current account surpluses. One reason for this is the dominant role played by transactions involving manufactured goods in world trade. An additional factor is that the catching-up process in emerging and developing...

The following article outlines the position of the German shipubilding industry in the world market against the background of the changes in demand which followed upon the mineral oil crisis. Emphasis is laid on the adverse effects of competition-distorting measures, and suggestions are made for...