The United States reprimanded Germany on Wednesday for an economic model that depends too heavily on exports, saying the country’s giant trade surpluses were holding back the global economy.
The U.S. Treasury Department said euro zone countries that rely on exports, particularly Germany, should focus more on boosting domestic growth in order to make the European economy more stable.
“Germany’s anemic pace of domestic demand growth and dependence on exports have hampered rebalancing (of the euro zone economy),” the Treasury said in a congressionally mandated semi-annual report.
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