It’s Good To Be The Queen

Of extracting wealth from the rest of the European Union.

Merkel

While few European states can pretend to share Germany’s distinction of being a “country of poets and thinkers,” none can rival German abilities to extract so much wealth from the rest of the European Union.

Last year, Germany posted a 159.3 billion euro surplus on its goods trade with other countries in the EU — one of the world’s largest free-trade areas and a region with privileged access to German goods and services.

That’s the way it’s been since 1958, when Europe’s common market opened up.

Statistisches Bundesamt: Deutsche Exporte im Juni 2018 um 7,8% höher als im Vorjahr.

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But Nobody Said We Couldn’t Do It Until Now

Trump is right about trade and Merkel needs to do something about it, former German state secretary says.

Trade

In early March, Trump started by implementing tariffs on aluminum and steel imports — measures that did not represent a big impact for China, but did for countries like Japan and potentially Europe too.

Germany has also faced international criticism for its trade surplus, which means its exports outweigh its imports, as some see it as unfair, imbalanced and a cause for protectionism elsewhere.

“Germany is really out there as the main culprit, so to say, because Germany has the highest surplus, much higher than China in terms of GDP… Germany has to do something against it, that’s absolutely clear,”

Germans Oddly Quiet About Protests In Iran

I wonder why?

Iran

I know, let’s ask the Tasnim News Agency: The head of the German-Iranian Chamber of Commerce said Germany sold 2.358 billion euros ($2.846 billion) worth of goods to Iran, and imported just $328 million worth of goods from Iran in nine months from January through October 2017.

“Germany’s trade surplus with Iran is massive. But that’s nothing new. The Iranians complain about it from time to time, and we try to find ways to encourage more Iranian exports into Europe and Germany, but we’ve been running big trade surpluses with Iran for forty years.”

German Of The Day: Exportüberschuss

That means export or trade surplus. In this case the German trade surplus, of course.

Export

Also see: Böse Buben. That means bad boys.

Christine Lagarde (IMF) and Donald Trump may not have much in common at first glance but one thing they seem to agree upon is Germany’s trade surplus. That is, Germany exports more to, say, the USA than it imports from that country (same procedure with practically every other country Germany deals with, too). And it’s been like forever already.

So Germany, just in case you didn’t know it, you’re being a very bad boy.

Deutschland wird zum bösen Buben des Welthandels.