Multi-language site

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I am contemplating migrating an existing site to C5.

The current site pulls all content from a db. If the site is set to, say, German, all pages where German is available in the db are displayed in German (nav links as well) and all other pages are displayed in the default language, English. Using xml tags each field in the db can hold content for multiple languages.

This allows us to display the full site to all visitors with the core content in the chosen language.

I gather that C5 doesn't do it like this out of the box. Does anyone have any suggestions about doing this in C5 - or a better way of doing this?

Thanks, Terry