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Foreign trade consists of both exports and imports.

Nobody here is begrudging Germany its exports. What I and others are saying is that Germany needs to either stop short-charging its workers so they can start importing stuff from other European countries, or accept that Germany will never get paid for its exports.

Because there is one and only one way to pay for exports: Through imports.

The low-wage service sector may be unimportant to the export side (to low order), but it is very important to the import side.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Feb 18th, 2012 at 10:47:25 AM EST
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