Those Germans. First they win the World Cup, and now they’re ranked #1 in trade. Germany has a trade surplus of $257 billion (a sign of a truly robust economy.) In contrast, the US is DEAD LAST on the list of 193 countries in the CIA World Factbook, with a trade deficit of $361 billion.
Who knew that a highly unionized country with a solid manufacturing base, a strong middle class, and a woman head of state could do so well? Aren’t we constantly being told that our overpaid, privileged union workers must accept pay and benefit cuts in order to compete with other countries for world markets? Obviously, what the corporate people and their Republican minions in the Congress have been telling us is hogwash.
In a syndicated editorial published in today’s Arizona Daily Star, Harold Meyerson of The American Prospect, compares the policies and financial health of countries in the top and bottom tiers. Meyerson writes…
The composition of the top and bottom 20 nations on the list provides an even more illuminating picture. Three kinds of nations dominate the top 20: oil exporters (Saudi Arabia ranks third), East Asian manufacturers-for-export (China ranks second) and Northern European industrial and social democracies (not just Germany but also Denmark, Sweden, the Netherlands and Norway — the last, swimming in North Sea oil, an energy exporter as well).
The most striking aspect of the bottom 20, by contrast, is the prevalence of English-speaking nations. Not only does the United States finish 193rd, but Britain comes in at 192, Canada at 189, Australia at 186 and New Zealand at 173.