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The Economy after Joining the EU (After 1957) The creation in 1957 of the?European Common Market, of which Italy was among the founder members, provided more investments and eased exports. The above mentioned highly favorable historical backgrounds, combined with the presence of a large and cheap stock of labour force, laid the foundations of a spectacular economic growth.? 1964-1973 The Italian economy experienced an average rate of growth of?GDP?of ?5.0% per year between 1964-1973. Italian rates of growth were second only, but very close, to the?German?rates, in Europe, and among the?OEEC countries only?behind the Japan. Economy(At present) Although the economic situation of the Italy is not as good as it was during the time when it just joined the EU, the Italian products in the world still has strong competitiveness. Export covers a wide range of commodities. Such us mechanical equipment, automobile, processed agricultural products, steel, household appliances, clothing, shoes, precious metals and other manufactured goods. Italy is one of the top ten foreign trade countries around the world,whose import and export are ranking stably seventh or eighth in the world. In 2011,the exports of goods and services reached 375.719 billion euros.At the same time,imports were 400.052 billion euros.The total trade volume of world trade total was 3% ~ 3.5%. The Federal Republic of Germany is one of the worlds leading industrialised countries. Located in Central Europe.And it is a founding member of the European Union. It is the European Unions most populous and most economically powerful member state. Germany In 2009,European debt crisis broke out.Europe is going through a hard time: Ireland,Spain,Portugal,Greece have calling for help from all EU countries trying to revive there economy,but how does Germany keeps its economy steadily going up year by year? What strategy does it use for its own advantage when other Euro countries are in trouble? What role does it
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