The U.S.-China trade war has changed how economists look at France and Germany.
They are two of the biggest economies in the euro zone and since the sovereign debt crisis emerged in 2011, Germany has always been seen as the most resilient.
They are two of the biggest economies in the euro zone and since the sovereign debt crisis emerged in 2011, shaking the foundations of the region, Germany has always been seen as the most resilient. France has a much higher public debt pile and has been more exposed to the financial distress taking place in countries, such as Italy. However, the tables have turned.
The French-German axis remains extremely important for Europe but at the same time, the last years have shown that this axis functions best when both countries are on equal footing.Germany's share of manufacturing in gross domestic product is almost 25%, according to recent data from UBS. In comparison, manufacturing in France represents less than 15% of its GDP.
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