America is such an important export market for both that neither would cope easily with such a loss of competitiveness.
Russia, in contrast, is no longer an important export market for most East European countries, so the risk of regional contagion is small.
Until now, they have been concerned to stem the dollar's rise, but they will become less fixated about the greenback, suggests Mr O'Neill, when they realise that America is no longer such an important export market.
Germany is the traditional home of Eiswein but producers in Canada, such as Inniskillin, Jackson-Triggs and Mission Hill, have created an important export market and the country now makes more ice-wine than any other nation in the world.
And America is less important as an export market for the zone than you might expect.
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Wheat prices spiked this August after a drought and fires in Russia, an important supplier, prompted an export ban.
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China has good reason to help Europe, its biggest export market and an important source of technology and know-how.
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Despite Lesotho's market-based economy being heavily tied to its neighbor South Africa, the US is an important trade partner because of the export sector's heavy dependence on apparel exports.
In an important step forward, countries with large surpluses and export-oriented countries agreed to take additional steps to support growth and boost demand in their own countries.
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Once merely an important growth market, China is fast becoming GM's global export base, and the change can be seen in the very structure of the company.
Mr Brown said that banning export credit guarantees for "unproductive expenditure" was an important step towards eradicating Third World poverty and urged other industrialised nations to follow suit.
This will be an important step towards aggregating Caspian output and enhancing the viability of the Ceyhan export route.
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