Two timely articles:
Yale economist Stephen Roach notes -
“Donald Trump’s
economic strategy is severely flawed. The US president-elect wants to restore
growth via deficit spending in a country with a chronic shortfall of saving.
This points to a further compression in national saving, making a widening of
an already outsize trade gap all but inevitable.”
As a percent of GDP, Germany’s current account surplus
dwarfs China’s surplus
http://www.spiegel.de/international/germany/germany-preparing-for-trade-conflict-with-donald-trump-a-1123136.html
“There are plenty of reasons for that. Germany's current account surplus has never been as high as it is this year and never before has that surplus represented such a significant share of the country's gross domestic product. Making matters worse is the fact that the US is the largest consumer of German exports.”
“There are plenty of reasons for that. Germany's current account surplus has never been as high as it is this year and never before has that surplus represented such a significant share of the country's gross domestic product. Making matters worse is the fact that the US is the largest consumer of German exports.”