Trump might be right about the Germans
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Trump might be right about the Germans
Trump might be right about the Germans

This article was originally published in Hungarian (Trumpnak igaza van: a németek tényleg nagyon rosszak. 06.19.2017). It was first published in English by The Center for Transatlantic Relations.

Donald Trump has declared war. Not on terrorism, nor on the “cheating” Chinese, not even on Mexico. Instead, the US President appears to have decided that his main international adversary will be a loyal ally to the U.S.: Germany. Recently, Berlin has had to bear the brunt of Trump's anger on international trade and security, through which, at least according to the President, the United States is supposed to be taken advantage of.

At the end of May in Brussels, Trump essentially kicked down the door on unsuspecting European leaders by turning a NATO summit designed to appease him into a tirade against Germany and its ‘very bad' export policies. The problem according to Trump: Germany ‘exports too many cars to the United States, and that needs to be stopped. (The majority of German-brand cars sold in the US are actually assembled in America. The same is true for Japanese automobiles.)

But even though Trump's policy ideas usually don't line up with mainstream economics wisdom, in this case, broadly speaking, he is actually right. Germany really does export too much, and this hurts Europe, America and the world economy as a whole.
Excess German exports create unemployment, industrial decline and debt in Southern Europe and all over the world. All the while, the heavily export-reliant German economic model is unsustainable, and poses substantial risks for Germany's and Europe's future. (...)

"The secret to happiness is freedom... And the secret to freedom is courage."

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2017 Nov 16 19:55
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