"... Who is to blame for the state of the world economy? To listen to a range of presidents, investors, pundits and finance ministers, just one country: Germany.
U.S. President Barack Obama suggests the Germans are sending the world back into recession. George Soros says they are destroying the euro. French Finance Minister Christine Lagarde thinks they are pushing the euro area into deflation.
It is all crazy.
Germany’s huge trade surplus isn’t part of the problem. Handicapping the strongest link won’t help the European economy. And Germany couldn’t change direction now even if it wanted to. Instead of criticizing the Germans, other nations should be learning from the world’s second-biggest exporter. German brands such as Siemens AG, Bayerische Motoren Werke AG and Bayer AG didn’t just appear for no reason...
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