Alemania: el chivo expiatorio

BRUSELAS – ¿Se puede responsabilizar a Alemania, país que tiene el 1% de la población del mundo y que da cuenta de menos del 5% de su PIB por el estado lamentable de la economía global? El Departamento del Tesoro de EE.UU. comenzó con esta cantaleta a través de un informe sobre manipuladores de divisas, mismo que critica el superávit de cuenta corriente de Alemania. El mes pasado, la Comisión Europea sumó su voz al publicar su tarjeta de puntuación sobre los desequilibrios macroeconómicos e hizo un llamado para que se lleve a cabo un análisis profundo del superávit alemán.

El énfasis en Alemania parece estar mucho más justificado dentro del contexto de Europa. Pero, incluso allí, Alemania representa menos del 30 % del PIB de la eurozona (y menos de una cuarta parte de la producción en la UE en su conjunto). Alemania es importante pero no es preponderante.

Esta concentración de atención sobre Alemania también pasa por alto el hecho de que el país representa solamente la punta del iceberg teutón, debido a que todos los países del norte de Europa que hablan una lengua germánica tienen un superávit en cuenta corriente. De hecho, los Países Bajos, Suiza, Suecia y Noruega mantienen superávits más grandes, si se los mide como porcentaje de su PIB, en comparación al que mantiene Alemania.

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