As economic indicators wobble, there is hope that a new course will produce stability here and abroad.

Last week I was in Germany on business. Thanks to the power of CNN and global communication, I couldn't shake the U.S. presidential election.

When people say the world is watching, they aren't kidding. Virtually every group I was with had questions about the election.

How could McCain have picked Sarah Palin? Had I ever met Barack Obama? Why were Americans making so much of his middle name, Hussein? And so on.

One thing is clear. Everyone in Europe, it seems, will be delighted when George W. Bush heads back to the ranch. Most are captivated by the notion that Barack Obama might become president.

Another event in Germany last week heightened the focus on America: the closing of Berlin's Tempelhof Airport.

Tempelhof was the center of the Berlin Airlift in 1948 – an airlift still fondly remembered in Germany as the turning point of the Cold War years. In fact, one of my German business colleagues traced the good will Germans feel for Americans back to the airlift. His grandfather had told him the story many times.

This year is the 60th anniversary of the airlift, a story I noted in a column in June. It was poignant that this should also be the year that Tempelhof closes.

Apparently there were many efforts to keep the airport open, but none was ultimately successful. The terminal is a magnificent example of a beaux-arts style taken to extremes. Hopefully, it will be preserved as a conference center, hotel or similar commercial development.

I found several reminders of World War II and the post-war period in my visit. My first destination was Munich, where my German host arranged a tour of the downtown.

It has been well-restored from the considerable bombing damage during the war. The city's central square is a lovely open space with an ornate Gothic town hall complete with glockenspiel. The entire downtown area is limited to pedestrian traffic only and is a delight for the walking visitor.

I was impressed throughout Germany by the clean and prosperous look of the cities and towns. They are well-kept.

Shoppers abound. Cafes and restaurants are busy. In fact, there was a report last week of German unemployment falling to its lowest level in 20 years.

I visited three companies last week. All are enjoying record years. In short, the German economy, at least, is looking more resilient than I would have expected.

Nonetheless, even in Germany there are signs that 2009 will be more difficult. The European sales manager of one of the companies discussed a recent visit to Sweden and the Low Countries. The customers in those areas suggested their businesses were slowing and that fewer orders were likely in the new year.

Subsequently, I stopped by to see old friends in the south of France. They own an architecture and real estate development business.

The economy in France is much weaker than in Germany. Their architecture business, often an early indicator for commercial and residential development, is off significantly this year. Many projects have been deferred.

Nonetheless, they have gone ahead on their own with the design and, beginning this month, the construction of a major new apartment development. Given market conditions and the global economic situation, this is an act of considerable courage.

They are convinced that there is latent demand for good housing, and that French banks will lend on reasonable terms to prospective apartment buyers. Bonne chance will be needed also.

This is the kind of entrepreneurial spirit unusual in France. My friends hope that after the U.S. election, new leadership in the United States will lead to more stable financial markets globally.

They believe that this will have a positive influence on buying decisions all the way to southern France. I hope they are proven correct.

All of this was a reminder to me once again of how connected our global economies have become.

You will be reading this on Election Day. I am confident that Americans will make a sound choice. By next week we should be examining who the key picks will be in an Obama administration. So far, candidate Obama has shown excellent judgment.

If he assembles a strong and able Cabinet, we will have turned an important corner. Much depends on it.