When you checkout a project's commit, you also checkout the dependency commits at that point - the commit of the submodule is part of the version history of the parent.
But a git tag of the parent doesn't create a tag in the child repositories - that's probably a good thing, though.
That's something different than I had in mind. The thing is, when I want to manage or view versions of submodules, I'd like to use their respective version tags.
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