Sündenbock Deutschland

BRÜSSEL – Könnte Deutschland, in dem 1% der Weltbevölkerung lebt und dessen Anteil am Welt-BIP weniger als 5% beträgt, tatsächlich für den jämmerlichen Zustand der Weltwirtschaft verantwortlich sein? Das US-Finanzministerium hat den Reigen mit einem Bericht über Währungsmanipulatoren eröffnet, in dem der deutsche Leistungsbilanzüberschuss kritisiert wurde. Die Europäische Kommission hat sich im vergangenen Monat ebenfalls zu Wort gemeldet, als sie ihren Bericht über makroökonomische Ungleichgewichte veröffentlichte und eine eingehende Analyse des deutschen Überschusses verlangte.

Es scheint wesentlich eher gerechtfertigt, den Schwerpunkt auf Deutschland zu legen, wenn man sich auf Europa beschränkt. Doch selbst auf die EU bezogen entfallen weniger als 30% des BIP der Eurozone (und weniger als ein Viertel der Produktion in der EU insgesamt) auf Deutschland. Deutschland ist bedeutend, aber nicht dominierend.

Dieser Fokus auf Deutschland lässt außerdem die Tatsache außer Acht, dass das Land lediglich die Spitze eines teutonischen Eisberges repräsentiert: Alle nordeuropäischen Länder mit germanischen Sprachen weisen einen Leistungsbilanzüberschuss auf. Die Niederlande, die Schweiz, Schweden und Norwegen weisen allesamt Überschüsse auf, die auf das BIP bezogen größer sind als der deutsche.

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