Yes, but one wishes, reading this, that he had elaborated, just a little more, re:
"There are a number of reasons that’s foolish..."
as well as just this terse, graphic, comment.
He does point out a few things, in fairness, but not enough to explain the differences well enough.
Saying they export better to China is not a good sign, of good advice, going forward, in my opinion.
That exporting will end, some day, perhaps sooner rather than later, and then what engine of economic prosperity would one be left with, in Germany?
Let's put it this way, for the intellectually challenged out there, imports from China, and other low labor cost sites, and exports to them, facilitating those good imports,
are a little like crack cocaine.
American 'producers', and consumers, certainly Wall Street, various state capitols, and Washington, have been on this 'crack' foreign production, since the early 60s.
Started out innocently enough, with the Marshall Plan, Bretton Woods, but quickly morphed into a whole other market capitalist, economic, state department, series of agendas.
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