February 22nd, 2013
11:41 AM ET

What we're reading

By Fareed Zakaria

Benjamin Netanyahu’s government “has been losing Israel the support of its best friends,” argues Philip Stephens in an interesting piece in the Financial Times. “This is something that should worry anyone concerned with Israel’s long-term security.”

“Mr Netanyahu seems to take pride in defying Mr Obama and others by continuing to expand illegal settlements in the West Bank. When the Israeli and US leaders went head to head on the issue, Mr Obama blinked. It has been Israel, however, that has suffered the consequences.”

Germany has plenty of lessons for the U.S. economy, argues Steven Hill in The Atlantic.

“While Germany’s economy shrank in the last measured quarter, mostly due to the collapse of the overall European economy, it still runs a trade surplus with much lower unemployment than the U.S.,” Hill says. “German Chancellor Angela Merkel once was asked by then-British prime minister Tony Blair what the secret was of her country's impressive success. She famously replied, ‘Mr. Blair, we still make things.’ In Germany, manufacturing still dominates finance, not the other way around, as Germany has continued to emphasize manufacturing and exports over the financial industry.”

soundoff (5 Responses)
  1. Shc

    Germany taking advantage of a lower euro currency denomination through the Eurozone

    February 22, 2013 at 12:14 pm | Reply
  2. Rolf von Grafenstein

    Only Great Britain performs better than Germany. USA was not careful enough, with whom to partner, and did (not) trust the (right) wrong countries. Asian countries are no good for USA, and should not be trusted, because they do not share the same believes and culture, and bring failure to American economy.

    February 22, 2013 at 12:21 pm | Reply
  3. rightospeak

    Steven is right. " Manufacturing still dominates finance" means that Germany did not off shored most good jobs. If Germany can shake off the globalists, get rid of toxic assets in their banks, maybe even get rid of euro they will do even better. Yes, we need to get back our manufacturing base to create jobs in the US.

    February 23, 2013 at 10:04 am | Reply
  4. j. von hettlingen

    Interesting how Obama will be received by Netanyahu and the Israelis, when he embarks on a state visit next week, his first to Israel since he took office in 2009.

    February 24, 2013 at 4:36 am | Reply
  5. agarwalivpl

    Dear Fareed,
    Germany's success today is largely in its manufacturing sector plus quality maintained, Finance is essential, but not the only criteria as made out by some, DO NOT COMPROMISE ON QUALITY-MANUFACTURING will give rise to all other issues.

    February 24, 2013 at 4:39 am | Reply

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