The sense in business circles, that demand is weak and growth is slowing down, was…
The German current account surplus: Much larger than officially reported? Heiner Flassbeck and Friederike Spiecker
It appears the German government is manipulating its trade surplus statistics to avoid increased criticism. While Germans believe a massive trade surplus is a confirmation of national superiority, elsewhere it is termed “beggaring thy neighbour”. The losers are not only the rest of the world, but also German workers, who go underpaid to maintain a trading advantage, thus not enjoying the full fruits of their labour.
(This article was originally posted in the Brave New Europe on January 29, 2018.)
