Germany is to become a world champion on the way. But it is a success, the many places triggers concern and even frustration. The droning shops of our exporting companies will attract a record in the current account after this year. The Munich Institute for Economic Research (Ifo) expects the surplus in trade with the rest of the world will add up to $ 310 billion -. 25 billion more than last year
that would be not only a peak for the German exporting companies, but probably also the largest surplus on the globe. Exceeds Forecast to Germany would even go by China. For the Chinese national economy Ifo expert Christian Grimme expected a surplus of only $ 260 billion, $ 50 billion below the German level. In third place accordingly follows Japan with around 170 billion.
especially the trade in goods with the rest of the world and the big difference is responsible for the high current account surplus between exports and imports. In the first months of the business with other European countries has sharply tightened while the demand from German consumers and companies for foreign goods was surprisingly weak.
While German commercial Plus grows vigorously, should China’s surplus this year to decline by about 70 billion dollars because the local companies sell noticeably less abroad. But in the first quarter, exports fell by 35 billion dollars. The local current account surplus has long been the greatest of all economies to China filed past Germany last year.
The export success of German companies could now however Brussels on the plan call, because the European Commission is holding a long-term average surplus of more than six percent for economically harmful. Exceeds Expectation of Ifo to,
the German surplus this year will be at 8.9 percent. In this country, the Export Plus is especially true as a result of high competitiveness , The Commission sees however differently. Persistently high surpluses it considers a threat to the stability of the euro zone. The surpluses of the Federal Republic are facing deficits in other euro countries and the associated potentially high debt. So at least it seems the Commission.
International organizations such as the International Monetary Fund (IMF) share the concerns of the European Commission. In your opinion, brings Germany with its surpluses the entire world trade by a Direction. Prompt came forward and the Organisation for Economic Co-operation and Development (OECD) to speak. It is concerned about the global imbalances, it said in a reaction to the organization based in Paris.
The Federal Republic could contribute to reduce the imbalances, about through more government-funded investments. The European Commission regularly recommends increased investment to boost demand in Germany and thus to drive the imports into the air.
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