West German Prosperity

Political Significance of West Germany's Boom

The federal republic of Germany has been catapulted by its economic prowess into the status of a first-class power. This pre-eminence was reflected in the emergence of the German mark, from a series of international monetary crises in 1967–68, as the world's strongest currency. In the past year, the Federal Republic has become the leading financial and industrial nation of Western Europe, with the largest gold hoard, the soundest economy, and the best-disciplined, most industrious work force.

West Germany is the second largest trading nation in the world, behind only the United States; and it is third, after the United States and the Soviet Union, in industrial production. Domestically, the country's economy has achieved a goal hitherto ...