that Germany nowadays the no1 economic role model is and the no1 economy BY FAR is shown by the following also I will show you the trade facts and the current account status of Germany vs the so-called giant, China. Well, China is peanuts. For November 2011 China had a trade surplus of 14,6 bill dollars. Well Germany stood at 16,20 bill euros or in dollar terms (the mean currency rate of eur/dol for November was 1,35557) 21,96 bill dollars. Yep !!! Germany + 22 bill dollars China + 14,6 bill dollars For the year till November (sakisglo facts from my database with the mean currency rate - eur/dol for each month) January 2011 - November 2011
China + 141,72 bill dollars
Germany + 205,03 bill dollars !! And the funny thing is that China is quickly turning into a trade DEFICIT !!! Yep !!! All the following are from Bloomberg yesterday "Bank of America Corp., Credit Agricole CIB and Haitong Securities Co. estimate the surplus (CNFRBAL$) this year will slip below $102 billion in 2005. For December, the excess shrank to $8.8 billion, according to the median of 20 estimates in a Bloomberg News survey (CNFRBAL$), indicating an annual surplus of $147.2 billion." “As China comes close to a balance of trade, political pressures from the U.S. will have to cool eventually.” With the gradual stabilization of foreign-exchange reserves and close to zero current-account surpluses, China will have more arguments to oppose Washington’s demand on currency appreciation,” said Herve Lievore, an economist for Asia at AXA Investment Managers in Hong Kong. |