Tyskland går österut

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With large parts of Europe struggling to cope with a debt crisis, Germany is increasingly deploying its money outside the euro-zone to fuel its robust growth.

The shift in focus, still in its early stages, could have profound economic and political implications because it comes at a critical time when the rest of Europe is counting on Germany to continue its traditional role as the locomotive of the Continent’s economy.

German companies, instead of concentrating their investment overwhelmingly on countries like France and Italy, are sending a growing proportion of their euros to places like Poland, Russia, Brazil and especially China, which is already the largest market for Volkswagen and could soon be for Mercedes and BMW.