Germany economy - Frankfurt Thomas Lohnes/Getty Images

德国外部盈余的政治学

慕尼黑—关于全球宏观经济失衡的争论正在日益关注德国的经常项目盈余和经济政策。尽管德国经济引擎动力十足,并且起到了推动欧元区增长、保持其稳定的作用,但对德国巨额外部盈余的批评仍然日益严重。《经济学人》(Economist)杂志最近指出,德国“储蓄过多,而支出过少”,这使得它成为“尴尬的自由贸易捍卫者”。

那么,德国应该怎么做?答案取决于是经济学还是政治学指导决策。

当前的批评造成了本月G20汉堡峰会所呈现的、某位观察者所谓的“不安的氛围”,其主要观点有二。首先,德国出口过多而在国内投资过少正在伤及自身。其次,德国不顾世界其他国家,特别是美国的要求。根据这一观点,如果德国为全球支出做出更多贡献,那么2008年金融危机以来的经济复苏将会更加强劲。

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