But Germany can be Germany - an economy with fiscal discipline, feeble domestic demand and a huge export surplus - only because others are not.
但德国之所以是德国——一个财政自律、内需疲软、出口顺差巨大的经济体——只是因为其它国家不是德国。
Germany and other surplus countries must do more to sustain growth, if need be by borrowing more when, as now, demand is weak.
德国和其他盈余国应该为了维持增长付出更多努力,如果需要,就要在像现在一样需求疲软的时候借入更多。
The two big surplus countries in the rich world, Germany and Japan, are suffering deep recessions, which may bring them to the table.
发达国家中的两大盈余国德国和日本均陷入了严重的衰退,这也许会将它们带到谈判桌上来。
The surplus countries with the most leeway to increase domestic spending - Japan and Germany, in particular - are not yet doing enough.
最有余地增加国内支出的顺差国家——特别是日本和德国——目前做得还不够。
Overnight, Germany will lose its status as a conqueror on world markets. Its enormous trade surplus, the source of its prosperity, would quickly vanish.
一夜之间,德国就会丧失在全球市场呼风唤雨的地位,该国繁荣赖以存在的庞大贸易顺差将会迅速消失殆尽。
However, Keynes could not secure American support for "creditor adjustment". This was in part because America had both the world's most powerful economy and (like Germany today) a big trade surplus.
然而,凯恩斯没有能够为美国提出的“债权人调整”提供有力支持,这是因为美国即拥有最强劲的经济实力,又有巨大的贸易顺差(如同今日的德国)。
And unlike America, Germany is a supplier of global credit: its current-account surplus was a hefty 7.7% of GDP last year, according to the OECD.
不同于美国,德国是全球信贷的供应商:据经合组织称,去年其经常账户盈余是达到了惊人的7.7%。
Germany in 1967 and Japan in 1971 both had a fifth of the world's total surplus, too.
而1967年的德国和1971年的日本都占到全球总盈余的五分之一。
Similar growth tonics need to be applied in much of the rich world, both to boost domestic spending in surplus economies, such as Germany and Japan, and to raise productivity.
富国也要采取相似的措施实现增长,在贸易顺差的国家,比如德国和日本,既要刺激内需,又要提高生产力。
Germany, unlike other rich countries, has avoided deindustrialisation, they point out. With a rapidly ageing population, it is also right to accumulate savings by running a current-account surplus.
他们指出德国不同于其他发达国家的是已经避免了去工业化,而其迅速增加的老龄化人口使得通过国际贸易顺差来增加储备也是合理的。
Germany was pressing to treat the European Union as a whole, which doesn't have the huge trade surplus that German does when treated separately.
德国急着将欧盟作为一个整体看待,这样的话就不想德国被单独对待那么多的盈余。
One objection is that the pressure remains on deficit countries within the euro area to put their houses in order, whereas none is brought to bear on surplus countries such as Germany.
反对该意见的人认为,欧元区内部存在赤字的国家仍然面临重整秩序的压力,而财政盈余国家如德国则没有任何压力。
Just as weak southern-tier economies need to free up their Labour and product markets and boost competitiveness, so surplus countries like Germany need to promote spending at home.
就像南线弱小经济体需要解放他们的劳动力、实现商品市场的自由化及提升竞争力一样,德国这样的预算盈余国则需要提高国内消费需求。
Indeed, Germany even has a shift towards a smaller surplus.
德国甚至出现了盈馀下降的趋势。
In Germany, however, the deterioration in the fiscal balance is entirely an offset to a smaller current account surplus.
但在德国,财政馀额的恶化纯粹是抵消经常帐户盈馀减少的一种手段。
In Germany, however, the deterioration in the fiscal balance is entirely an offset to a smaller current account surplus.
但在德国,财政馀额的恶化纯粹是抵消经常帐户盈馀减少的一种手段。
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