But Germany's external surplus is too big.

但德国的外部顺差过于庞大。

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The external surplus should decline somewhat further this year.

今年外部盈余应会继续有所下降。

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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。

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With the Eurozone expected to shrink a further 0.1% this year, after contracting 0.6% in 2012, European policymakers will have to work to achieve more symmetrical adjustment shared between core external surplus members, namely Germany, and peripheral deficit countries, Kraemer argues.

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In time, those adjustments should cut both the U.S. external deficit and China's surplus.

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Guillermo Perry, the World Bank's chief economist for Latin America, says Chile is better placed than any other country in the region to absorb external shocks, thanks to its well organised budgetary institutions, prudent fiscal management (a surplus every year since 1989) and tight banking supervision.

ECONOMIST: Chile