Heiner Flassbeck argues that the China-US trade war is not having as much of an impact on the global economy as many assume. China’s currency is not undervalued, despite its recent devaluation. Rather, the undervalued Euro gives Germany a real competitive advantage in world trade. It’s actually Europe’s economic weakness that is dragging down Germany, not China
The European elections delivered a crushing blow to the German Social Democrats. Only a miracle can save them now.
Source: Social Democracy at Death’s Door