(Ian Talley – WSJ)
China’s devalued exchange rate has made it a pariah of U.S.-based manufacturing and a beloved target of countless U.S. political diatribes and bills seeking to censure Beijing for its currency policy.
But it is key U.S. ally Germany that’s sapping growth from the global economy, according to the latest tally of trade surpluses by the International Monetary Fund.
Germany has replaced China as the largest surplus economy in the world. Read more here.