Breaking News

Asia Today ISSN 1861-4604 Wednesday, May 23, 2018

Headline

US warns German economic policies 'damaging to eurozone'

Warning its export-reliant growth model

Share on Facebook October 31, 2013, Reporter : Deutsche Welle, Reader : 622

German Automobile Mercedes Photo source: DW/AP news

A US Treasury report has offered a rare criticism of German economic policies, warning its export-reliant growth model was harmful to the eurozone. The report also reiterated concerns about the value of China's currency; reports the Deutsche Welle.

In the Treasury report, published Wednesday, the Obama administration criticized Germany for maintaining a large trade surplus throughout the eurozone. It also flagged up Germany's limited domestic demand-led growth as a risk not only to the eurozone but to global economic recovery.

 "Germany's anemic pace of domestic demand growth and dependence on exports have hampered rebalancing at a time when many other euro-area countries have been under severe pressure to curb demand and compress imports," the twice-a-year Treasury report to Congress said.

"The net result has been a deflationary bias for the euro area, as well as for the world economy."

It said Germany's surplus was larger than China's in 2012, urging Europe's largest economy to do more to rebalance growth on the continent. This would provide markets to boost the exports of other European nations. more...

More Euro Asia news of the month

Photos Iran greatest threat to world: Netanyahu

Munich [Germany], Feb 18 (ANI): Israeli Prime Minister Benjamin Netanyahu on Sunday branded Iran as the "greatest threat to...

Photos May warns EU against blocking post-Brexit security deal

LONDON, U.K. - Calling for a new security treaty with the European Union, British Prime Minister Theresa May said on Saturday that a...

Photos German FM urges closer dialogue with Turkey

World Bulletin / News Desk Political differences should not hinder Germany and Turkey from closer dialogue and cooperation, German...

Photos Berlin Film Review: ‘The Heiresses’

A finely-crafted, beautifully realized debut that exquisitely balances character study with shrewd commentary on class, desire, and the...

Photos Berlinale opening: Wes Anderson’s ‘Isle of Dogs’ is a Japanophile‘s feast

The Berlin International Film Festival has opened with Wes Anderson's "Isle of Dogs," a stop-motion adventure featuring...

Photos Martin Schulz Withdrew from the Leadership of the German Social Democrats

Social Democratic Party leader Martin Schulz announced his resignation, DPA reported. Shortly after, the party's leadership...

Photos EU warns disagreements turning Brexit negotiations sour

BRUSSELS, Belgium - In a warning issued on Friday, European Union Chief Negotiator Michel Barnier warned that the Brexit transition...

Photos BERLINALE 68th International Film Festival

BERLIN: The Competition and Berlinale Special programmes of the 68th Berlin International Film Festival have now been finalised....

Photos Most stock markets in Europe, Asia fall sharply after U.S. rout

HONG KONG — Asian and European shares fell Monday, extending global stock losses after Wall Street’s big sell off on...

Flying Reimagined

Stock Index

Wednesday, May 23, 2018

Life Style

Photo Gallery

FEUILLETON