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Look, it's a floating currency. Navarro's an idiot.
Be nice to America. Or we'll bring democracy to your country.
Few here would, I think. The existing situation with currency value and the competitiveness of the various national economies comprising the Eurozone is highly complex. Competitiveness can be rigged in a variety of ways. Germany does so in no small part because of the Hartz 2 agreements and in ways that also disadvantage the average German.
I did not see enough actual economic analysis from Navarro to tell what his position on German currency manipulation was. Perhaps I misread. But German exports are undervalued compared to what they would cost were Germany to have its own floating currency and Germany has been quite clever in crafting this arrangement to the benefit of German elites.
A more accurate statement would be that Germany has, effectively, managed to undervalue its exports, largely at the expense of its Eurozone partners. The problem I have with that is that it doesn't pass the smell test for me and a lot of others, mostly the victims.
"It is not necessary to have hope in order to persevere."
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