Signs and wonders are happening! The German Handelsblatt has recognised that foreign trade surpluses are not necessarily a good thing. Although they have long been regarded in this country as hard proof of German competitiveness, the paper writes that a country’s surpluses inevitably create deficits in other countries, which can also get into difficulties as a result. Bravo! This is finally a realisation that will help Germany move forward, albeit a good twenty years late.
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