European Space Activities in the Global Context
In the reporting period covering the second half of 2011 and the first half of 2012, the world economy seemed to be on a successful path out of the financial and economic crisis. The booming economies of China, India, Brazil, Russia in particular, and some other emerging and developing countries were providing impetus to global economic recovery. Due to strong export orientation, industrialised countries, such as Germany, had benefitted from demand from these countries. Thus Germany had record growth rates and declining unemployment.