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America has hollowed out its manufacturing in just the same way as the U.K. before it.
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At times, the company has built a two-story temporary structure in the parking lot in front of the Central Hall just to accommodate its briefing schedule, while at the same time putting together a substantial booth on the floor itself.
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It's also because although Germany could probably afford a 50% writedown of what it's owed, given the strength of its economy and public finances (the writedown, excluding the Target2 credit, would be equivalent to just over 1% of its GDP), the same probably can't be said of Spain, Italy or even France (where the writedown costs would also be around 1% of GDP).
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