El auge patológico de las exportaciones alemanas

Alemania es el bazar industrial del mundo. Ningún otro país puede ofrecer a sus clientes internacionales tan extensa variedad de productos industriales. Tiene 450 campeones ocultos de nichos de productos y es el hogar de 15 de las 20 ferias comerciales más grandes del mundo. También es el primer exportador mundial de mercancías y el segundo exportador más grande de bienes y servicios.

Pero Alemania gradualmente se está convirtiendo en una economía de bazar en un sentido diferente, ya que hoy en día se especializa en empacar y vender sus productos, mientras que subcontrata una parte cada vez mayor de sus manufacturas de alto valor agregado en países con mano de obra barata. En otras palabras, el papel de Alemania en la economía mundial está cambiando de ser productor a ser mercader. Como resultado, sus exportaciones contienen una parte cada vez mayor de bienes y servicios importados, y la proporción del valor agregado interno por unidad producida en sus exportaciones está disminuyendo rápidamente.

Eso no significa que la proporción de las exportaciones hechas en Alemania esté cayendo en términos absolutos. Sólo significa que el volumen total de las exportaciones alemanas ha estado creciendo más rápido que el valor agregado alemán total de esas exportaciones.

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