As_II the_AT U.S._NP1 Buys_VVZ Less_RRR ,_, Germany_NP1 Suffers_VVZ MUNICH_NP1 --_NN1 When_CS American_JJ consumers_NN2 stop_VV0 buying_NN1 ,_, companies_NN2 around_II the_AT world_NN1 suffer_VV0 --_NN1 even_RR those_DD2 that_CST do_VD0 little_JJ business_NN1 in_II the_AT United_NP1 States_NP1 ._. 
Take_VV0 Hawe_JJ Hydraulics_NN1 ,_, which_DDQ makes_VVZ valves_NN2 and_CC conduits_NN2 here_RL in_II southern_JJ Germany_NP1 ._. 
Its_APPGE sales_NN have_VH0 boomed_VVN in_II recent_JJ years_NNT2 ,_, driven_VVN largely_RR by_II demand_NN1 from_II China_NP1 and_CC the_AT rest_NN1 of_IO Asia_NP1 ._. 
But_CCB in_II the_AT last_MD few_DA2 months_NNT2 ,_, new_JJ orders_NN2 have_VH0 virtually_RR dried_VVN up_RP ,_, almost_RR overnight_RT ._. 
Only_RR 5_MC percent_NNU of_IO Hawe_NP1 's_GE products_NN2 are_VBR sold_VVN directly_RR to_II the_AT United_NP1 States_NP1 ,_, but_CCB sales_NN dropped_VVD suddenly_RR as_CSA American_JJ companies_NN2 stopped_VVD importing_VVG products_NN2 from_II China_NP1 that_CST used_VVD its_APPGE components_NN2 ._. 
"_" It_PPH1 used_VMK to_TO be_VBI that_CST it_PPH1 took_VVD years_NNT2 ,_, "_" said_VVD Karl_NP1 Haeusgen_NP1 ,_, Hawe_NP1 's_GE chief_JJ executive_NN1 ,_, who_PNQS propelled_VVD the_AT company_NN1 's_GE global_JJ expansion_NN1 ._. 
"_" But_CCB now_RT the_AT global_JJ link_NN1 works_VVZ very_RG quickly_RR ._. "_" 
The_AT United_NP1 States_NP1 ,_, with_IW its_APPGE credit-driven_JJ economy_NN1 ,_, has_VHZ long_RR ensured_VVN that_CST others_NN2 ,_, notably_RR China_NP1 ,_, Germany_NP1 and_CC Japan_NP1 ,_, have_VH0 been_VBN able_JK to_TO pile_VVI up_RP trade_NN1 surpluses_NN2 ._. 
That_DD1 dynamic_NN1 has_VHZ shifted_VVN ,_, with_IW Americans_NN2 paring_VVG purchases_NN2 at_II a_AT1 ferocious_JJ rate_NN1 ._. 
"_" As_II the_AT American_JJ consumer_NN1 now_RT capitulates_VVZ ,_, the_AT export_NN1 bubble_NN1 is_VBZ the_AT next_MD to_TO go_VVI ,_, "_" the_AT chairman_NN1 of_IO Morgan_NP1 Stanley_NP1 in_II Asia_NP1 ,_, Stephen_NP1 Roach_NP1 ,_, said_VVD ._. 
"_" Export-led_JJ economies_NN2 around_II the_AT world_NN1 are_VBR in_RP for_IF a_AT1 very_RG tough_JJ rebalancing_NN1 ._. "_" 
In_II Germany_NP1 ,_, the_AT world_NN1 's_GE largest_JJT merchandise_NN1 exporter_NN1 since_II 2003_MC ,_, sales_NN to_II other_JJ countries_NN2 drove_VVD growth_NN1 for_IF the_AT last_MD five_MC years_NNT2 ._. 
But_CCB in_II the_AT third_MD quarter_NN1 ,_, the_AT slump_NN1 in_II exports_NN2 helped_VVN push_VVI Germany_NP1 into_II recession_NN1 ._. 
Virtually_RR all_DB economists_NN2 expect_VV0 2009_MC to_TO be_VBI a_AT1 lost_JJ year_NNT1 for_IF Germany_NP1 ,_, which_DDQ will_VM pay_VVI a_AT1 heavy_JJ price_NN1 for_IF the_AT downturn_NN1 ._. 
The_AT retrenchment_NN1 bears_VVZ out_RP what_DDQ Mr._NNB Haeusgen_NP1 is_VBZ seeing_VVG ,_, that_CST there_EX is_VBZ a_AT1 strong_JJ correlation_NN1 between_II the_AT Chinese_JJ prosperity_NN1 that_CST rested_VVD in_RR21 part_RR22 on_II American_JJ profligacy_NN1 ,_, and_CC German_JJ sales_NN to_II China_NP1 and_CC elsewhere_RL ._. 
Germany_NP1 's_GE industrial_JJ exports_NN2 feed_VV0 a_AT1 Chinese_JJ economy_NN1 that_CST itself_PPX1 is_VBZ fed_VVN by_II American_JJ demand_NN1 for_IF goods_NN2 ._. 
Jacques_NP1 Cailloux_NP1 ,_, chief_JJ Europe_NP1 economist_NN1 at_II Royal_JJ Bank_NN1 of_IO Scotland_NP1 in_II London_NP1 ,_, has_VHZ established_VVN a_AT1 strong_JJ correlation_NN1 between_II Chinese_JJ exports_NN2 to_II the_AT United_NP1 States_NP1 and_CC German_JJ exports_NN2 to_II China_NP1 ._. 
The_AT American_JJ trade_NN1 deficit_NN1 in_II 2007_MC was_VBDZ $708.5_NNU billion_NNO ;_; Germany_NP1 's_GE $288.5_NNU billion_NNO surplus_JJ and_CC China_NP1 's_GE $262.2_NNU billion_NNO excess_NN1 represent_VV0 much_DA1 of_IO the_AT other_JJ side_NN1 of_IO that_DD1 equation_NN1 ._. 
Already_RR ,_, overall_JJ manufacturing_NN1 orders_NN2 in_II Germany_NP1 have_VH0 dropped_VVN significantly_RR ._. 
In_II September_NPM1 ,_, they_PPHS2 fell_VVD by_II the_AT largest_JJT monthly_JJ amount_NN1 since_II 1990_MC ,_, when_CS the_AT economy_NN1 of_IO East_NP1 Germany_NP1 was_VBDZ disintegrating_VVG ._. 
October_NPM1 was_VBDZ nearly_RR as_RG bad_JJ ._. 
Hawe_NP1 ,_, founded_VVN by_II Mr._NNB Haeusgen_NP1 's_GE grandfather_NN1 after_II World_NN1 War_NN1 II_MC ,_, belongs_VVZ to_II the_AT group_NN1 of_IO German_JJ companies_NN2 known_VVN as_II the_AT Mittelstand_NP1 --_JJ medium-size_JJ businesses_NN2 ,_, almost_RR always_RR family-owned_JJ ._. 
Their_APPGE products_NN2 are_VBR as_RG ubiquitous_JJ as_CSA they_PPHS2 are_VBR invisible_JJ to_II consumers_NN2 ._. 
With_IW metal_NN1 shavings_NN2 littering_VVG parts_NN2 of_IO its_APPGE shop_NN1 floor_NN1 and_CC employees_NN2 grinding_VVG blocks_NN2 of_IO steel_NN1 by_II hand_NN1 and_CC manually_RR assembling_VVG components_NN2 ,_, Hawe_NP1 looks_VVZ like_II the_AT sort_NN1 of_IO company_NN1 that_CST modern_JJ economics_NN1 textbooks_NN2 suggest_VV0 would_VM better_RRR exist_VVI in_II places_NN2 with_IW low_JJ labor_NN1 costs_NN2 ._. 
In_II fact_NN1 ,_, skilled_JJ Hawe_JJ employees_NN2 are_VBR able_JK to_TO mill_NN1 crucial_JJ parts_NN2 of_IO its_APPGE hydraulic_JJ systems_NN2 to_II tolerances_NN2 of_IO one_MC1 micron_NN1 ._. 
Hawe_NP1 has_VHZ not_XX been_VBN able_JK to_TO find_VVI any_DD machine_NN1 --_NN1 to_TO say_VVI nothing_PN1 of_IO an_AT1 ill-paid_JJ worker_NN1 --_NN1 that_CST can_VM manage_VVI the_AT feat_NN1 ._. 
It_PPH1 manufactures_VVZ solely_RR at_II sites_NN2 in_II and_CC around_II Munich_NP1 ,_, the_AT capital_NN1 of_IO Bavaria_NP1 ._. 
But_II21 for_II22 all_DB its_APPGE success_NN1 ,_, Hawe_NP1 is_VBZ by_RR31 no_RR32 means_RR33 immune_JJ to_II the_AT global_JJ economic_JJ sickness_NN1 ._. 
Hawe_NP1 generated_VVD revenue_NN1 of_IO 238_MC million_NNO euros_NN2 last_MD year_NNT1 ,_, capping_VVG five_MC years_NNT2 of_IO growth_NN1 ._. 
But_CCB sales_NN are_VBR now_RT flat_JJ and_CC it_PPH1 is_VBZ bracing_VVG for_IF a_AT1 slight_JJ dip_NN1 in_II 2009_MC ._. 
The_AT rapid_JJ slowdown_NN1 in_II global_JJ growth_NN1 over_II the_AT last_MD three_MC months_NNT2 means_VVZ Hawe_NP1 's_GE traditional_JJ Christmas_NNT1 break_NN1 has_VHZ been_VBN extended_VVN ,_, to_II varying_JJ degrees_NN2 depending_II21 on_II22 the_AT product_NN1 ._. 
Several_DA2 hundred_NNO temporary_JJ workers_NN2 have_VH0 been_VBN let_VVN go_VVI ._. 
Other_JJ idled_JJ employees_NN2 are_VBR drawing_VVG full_JJ paychecks_NN2 by_II tapping_VVG accounts_NN2 in_II which_DDQ they_PPHS2 stored_VVD overtime_RR hours_NNT2 during_II the_AT fat_JJ years_NNT2 ._. 
"_" A_AT1 year_NNT1 ago_RA ,_, this_DD1 would_VM have_VHI been_VBN full_JJ of_IO employees_NN2 ,_, "_" Michael_NP1 Knobloch_NP1 ,_, Hawe_NP1 's_GE director_NN1 of_IO marketing_NN1 ,_, said_VVD as_CSA he_PPHS1 stood_VVD between_II dormant_JJ sorters_NN2 ._. 
"_" Every_AT1 machine_NN1 would_VM have_VHI been_VBN running_VVG ._. "_" 
With_IW machines_NN2 at_II Hawe_NP1 and_CC so_RG many_DA2 other_JJ plants_NN2 silent_JJ ,_, other_JJ economic_JJ activity_NN1 in_II Germany_NP1 has_VHZ fallen_VVN off_RP ._. 
Deutsche_NP1 Bahn_NP1 ,_, the_AT railway_NN1 operator_NN1 ,_, has_VHZ rented_VVN space_NN1 at_II ports_NN2 to_TO store_VVI train_NN1 cars_NN2 this_DD1 winter_NNT1 for_IF lack_NN1 of_IO freight_NN1 ._. 
It_PPH1 expects_VVZ shipments_NN2 to_TO drop_VVI about_RG 40_MC percent_NNU in_II December_NPM1 over_II the_AT period_NN1 a_AT1 year_NNT1 ago_RA ._. 
Specialized_JJ manufacturers_NN2 like_II Hawe_NP1 are_VBR part_NN1 of_IO that_DD1 ,_, but_CCB so_RR are_VBR iconic_JJ automakers_NN2 like_II BMW_NP1 ,_, Daimler_NP1 ,_, Porsche_NP1 and_CC Volkswagen_NP1 ,_, which_DDQ all_DB extended_JJ holiday_NN1 shutdowns_NN2 ._. 
Deutsche_NP1 Post_NN1 ,_, the_AT German_JJ logistics_NN1 giant_NN1 that_CST owns_VVZ DHL_NP1 ,_, has_VHZ been_VBN hit_VVN by_II a_AT1 15_MC to_II 20_MC percent_NNU drop_NN1 in_II its_APPGE freight_NN1 forwarding_NN1 business_NN1 ._. 
It_PPH1 is_VBZ trying_VVG to_TO corral_JJ new_JJ business_NN1 by_II cutting_VVG rates_NN2 ,_, just_RR as_RG many_DA2 of_IO its_APPGE competitors_NN2 are_VBR ._. 
"_" We_PPIS2 are_VBR trying_VVG to_TO gain_VVI market_NN1 share_NN1 ,_, "_" said_VVD Hermann_NP1 Ude_NP1 ,_, who_PNQS runs_VVZ the_AT freight_NN1 business_NN1 ._. 
"_" That_DD1 does_VDZ n't_XX necessarily_RR mean_VVI you_PPY gain_VV0 volume_NN1 ._. "_" 
Recognizing_VVG that_CST they_PPHS2 must_VM sell_VVI more_RRR at_II home_NN1 to_TO compensate_VVI for_IF the_AT drop_NN1 in_II overseas_JJ sales_NN ,_, many_DA2 export-driven_JJ countries_NN2 have_VH0 embraced_VVN domestic_JJ stimulus_NN1 programs_NN2 aimed_VVN at_II halting_VVG the_AT slide_NN1 ._. 
Last_MD week_NNT1 ,_, Japan_NP1 announced_VVD a_AT1 $250_NNU stimulus_NN1 program_NN1 ,_, while_CS China_NP1 is_VBZ planning_VVG a_AT1 $586_NNU billion_NNO investment_NN1 over_RG two_MC years_NNT2 in_II infrastructure_NN1 and_CC other_JJ projects_NN2 ._. 
The_AT Obama_NP1 administration_NN1 is_VBZ talking_VVG about_II spending_VVG at_RR21 least_RR22 $500_NNU billion_NNO and_CC perhaps_RR as_RG much_DA1 as_CSA $1_NNU trillion_NNO over_RG two_MC years_NNT2 in_II a_AT1 bid_NN1 to_TO revitalize_VVI the_AT rapidly_RR contracting_VVG United_NP1 States_NP1 economy_NN1 ._. 
Not_XX so_RR Germany_NP1 ._. 
The_AT bitterest_JJT political_JJ dust-up_NN1 in_II recent_JJ memory_NN1 has_VHZ erupted_VVN in_II Europe_NP1 over_II Germany_NP1 's_GE unwillingness_NN1 to_TO pump_VVI larger_JJR amounts_NN2 of_IO cash_NN1 into_II its_APPGE economy_NN1 ._. 
Content_NN1 ,_, at_RR21 least_RR22 so_RG far_RR ,_, with_IW one_MC1 modest_JJ package_NN1 and_CC another_DD1 on_II the_AT way_NN1 ,_, German_JJ officials_NN2 are_VBR wary_JJ of_IO spending_VVG programs_NN2 that_CST would_VM bust_VVI a_AT1 nearly_RR balanced_JJ budget_NN1 ._. 
The_AT country_NN1 's_GE economy_NN1 minister_NN1 ,_, Michael_NP1 Glos_NP1 ,_, fought_VVN for_IF more_DAR stimulus_NN1 to_TO spur_VVI Germany_NP1 's_VBZ traditionally_RR weak_JJ domestic_JJ demand_NN1 but_CCB lost_VVD to_II the_AT finance_NN1 minister_NN1 ,_, Peer_VV0 Steinbruck_NN1 ._. 
That_DD1 prompted_VVD Mr._NNB Glos_NP1 to_TO say_VVI laconically_RR that_CST maybe_RR other_JJ countries_NN2 '_GE packages_NN2 "_" will_VM help_VVI our_APPGE export_NN1 economy_NN1 ._. "_" 
This_DD1 perspective_NN1 resonates_VVZ at_II companies_NN2 like_II Hawe_NP1 ._. 
"_" My_APPGE fear_NN1 is_VBZ that_CST the_AT Chinese_JJ are_VBR reacting_VVG more_RGR strongly_RR ,_, in_II a_AT1 psychological_JJ sense_NN1 ,_, than_CSN other_JJ countries_NN2 ,_, "_" Mr._NNB Haeusgen_NP1 said_VVD ._. 
"_" Our_APPGE hope_NN1 is_VBZ that_CST someone_PN1 decides_VVZ to_TO turn_VVI on_II the_AT lights_NN2 again_RT in_II the_AT next_MD few_DA2 months_NNT2 ._. "_" 
Indeed_RR ,_, German_JJ companies_NN2 ,_, not_XX expecting_VVG growth_NN1 at_II home_NN1 ,_, are_VBR using_VVG the_AT current_JJ crisis_NN1 to_TO reassess_VVI how_RRQ to_TO tap_VVI the_AT most_RGT lucrative_JJ export_NN1 business_NN1 ._. 
Hawe_JJ product_NN1 designers_NN2 ,_, executives_NN2 said_VVD ,_, are_VBR using_VVG the_AT lull_NN1 to_II ramp_NN1 up_RP their_APPGE efforts_NN2 ;_; their_APPGE floor_NN1 of_IO the_AT Munich_NP1 headquarters_NN throbs_VVZ with_IW energy_NN1 ._. 
A_AT1 new_JJ pattern_NN1 of_IO trade_NN1 may_VM ultimately_RR emerge_VVI ._. 
In_II31 place_II32 of_II33 American_JJ consumers_NN2 ,_, Germany_NP1 companies_NN2 say_VV0 ,_, they_PPHS2 look_VV0 forward_RL to_II Chinese_JJ customers_NN2 saving_VVG less_RRR and_CC spending_VVG more_RRR as_II Beijing_NP1 encourages_VVZ domestic-led_JJ growth_NN1 ._. 
"_" I_PPIS1 could_VM imagine_VVI that_CST a_AT1 future_JJ boom_NN1 comes_VVZ from_II the_AT countries_NN2 that_CST have_VH0 big_JJ savings_NN2 ,_, particularly_RR in_II Asia_NP1 ,_, "_" Mr._NNB Ude_NP1 of_IO Deutsche_NP1 Post_NN1 said_VVD ._. 
"_" We_PPIS2 should_VM n't_XX lose_VVI sight_NN1 of_IO that_DD1 ._. "_" 
