German engineering Sean Gallup/Getty Images

El mal comprendido superávit comercial de Alemania

BERLÍN – Ahora que el superávit de cuenta corriente de Alemania alcanzó la cifra récord de 270 000 millones de euros (285 000 millones de dólares), es decir, cerca de un 8,7% del PIB, el persistente debate sobre su modelo económico se intensificó. Los políticos de la eurozona y el gobierno de Donald Trump en Estados Unidos se culpan mutuamente por el desequilibrio económico, y unos y otros echan la culpa al euro.

El gobierno de Trump acusó a Alemania de exportar demasiado y de manipular el euro. Pero en realidad, el superávit comercial alemán tiene poco que ver con la moneda europea, convertida en un chivo expiatorio conveniente que desvía la atención de otros errores políticos.

Muchos alemanes ven la última oleada de críticas como señal de que el resto del mundo envidia el éxito de su país, y rechazan firmemente las acusaciones que dicen que Alemania intenta obtener una ventaja competitiva desleal. Señalan que Alemania no hace dumping ni promoción directa de las exportaciones, y que sus autoridades no siguen metas cambiarias.

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