Breaking News

Asia Today ISSN 1861-4604 Wednesday, January 24, 2018


US warns German economic policies 'damaging to eurozone'

Warning its export-reliant growth model

Share on Facebook October 31, 2013, Reporter : Deutsche Welle, Reader : 416

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 At the snowiest WEF meeting in 18 years, who is in focus?

DAVOS, Switzerland - At the World Economic Forum, which is set to begin on Tuesday in Davos, Switzerland, over 3,000 of the...

Photos German political deadlock ends, SPD approves coalition talks

BERLIN, Germany - Ending a prolonged political deadlock in Germany, the centre-left Social Democrats (SPD) voted at a special party...



Photos Merkel, Macron Look to Turn Warm Ties Into Reform Goals

PARIS - Chancellor Angela Merkel and President Emmanuel Macron will spend more than five hours together in Paris on Friday, putting on a...

Photos EU: Treating Rights as Optional Extra

(Brussels) - The European Union and its member states were too often willing to set aside human rights in 2017, but there were glimpses...

Photos Faced with Russian aggression, Sweden prepares its citizens

STOCKHOLM, Sweden - Faced with perceived Russian aggression, Sweden has revamped its defense strategy in recent months. Now,...

Photos London Mayor heckled by protesters backing Brexit, Trump

LONDON, U.K. - A day after criticizing the U.S. President Donald Trump following his decision to cancel his trip to the U.K., the London...

Photos Things Trump blames for scrapped London trip: Obama, Embassy

LONDON, U.K. - Gripped with raging controversies, the U.S. President Donald Trump raked up another one overnight, after cancelling a...

Photos Merkel unveils coalition deal, hails new dawn for Europe

BERLIN, Germany - On Friday, the German Chancellor Angela Merkel unveiled a coalition deal between her conservative bloc and the Social...

Flying Reimagined

Stock Index

Wednesday, January 24, 2018

Life Style

Photo Gallery