But Germany's external surplus is too big.
但德国的外部顺差过于庞大。
The external surplus should decline somewhat further this year.
今年外部盈余应会继续有所下降。
Germany's external surplus reflects chronically weak domestic demand as much as external strength.
德国外部顺差反映了一个长期问题，它的外需有多强，内需就有多弱。
China still has a large external surplus, so-using the same logic-how can it now be fuelling world inflation?
中国仍有巨大的对外顺差，因此，以同样的逻辑来看，他们怎么会加剧世界通胀呢？
If wages now outpace productivity, workers' share of the cake will rise, boosting consumption and helping to reduce China's external surplus.
如果工资能够以比生产率更快的速度增长，工人分得的蛋糕就会更大，消费就能得到提振，外部盈余就会有所减少。
The classic case of not revaluing in the face of a large external surplus is when there is conflict with domestic macroeconomic objectives.
面对大规模盈余而不对货币重估的通常理由是，其与国内宏观经济目标存在冲突。
The classic case of not revaluing in the face of a large external surplus is when there is conflict with domestic macroeconomic objectives.
面对大规模盈余而不对货币重估的通常理由是，其与国内宏观经济目标存在冲突。
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