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However, weaker-than-expected performance from this business and rising pressure from the depreciating British pound on its U.K. operations in recent periods have COT's shares down 33% since mid-August.
The country has not been successful in exporting more of its products to the United States market, which accounts for less than 1percentt of its exports in 2000 despite the depreciating trend of the CFA franc against the dollar, which has gained 40percentt in value between 1995 and 2000.
One bright spot is manufacturing, which is benefiting from the depreciating rand.
Nor do they like Japan's anti-terror legislation or, come to that, the depreciating yen.
Exports slowed, reflecting weaker demand abroad, while higher oil prices and the depreciating yen helped imports expand, leading the country to post a decline in trade surplus for the sixth consecutive month.
But Europe, with its bigger population and not much smaller GDP (reckoned to be larger, in fact, until America's recent faster growth and the depreciating euro reversed the honours), has considerable heft, as the table shows, and that weight will grow as the EU takes in more members.To their economic cost, the Europeans put less money into R&D than America does.
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(See "Morgan Stanley's Bad Moment") The rapidly depreciating value of mortgage-related assets and the general turmoil in the credit markets has punished Wall Street's power houses.
You can almost smell the vehicles depreciating.
During 2014 the euro depreciated against other major currencies.
Between April and September 2013, India's currency, the rupee, depreciated by an alarming 17%.
In each case, the dollar depreciated about 10 percent in terms of an average of other currencies.
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