Michael Stumo

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Last quote by Michael Stumo

Germany's 2016 current account surplus was the biggest in the world in relation to its GDP at 8.5 percent. China's was 3 percent. Germany overproduces and underconsumes. This means they have an excessive savings rate (27.8 percent) and free ride off the U.S. and other [countries'] consumers to drive their growth.feedback
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May 30 2017
Michael Stumo has most recently been quoted in an article called Wilbur Ross says he's 'open to resuming' talks on mega-trade deal with Europe. Michael Stumo said, “Germany's 2016 current account surplus was the biggest in the world in relation to its GDP at 8.5 percent. China's was 3 percent. Germany overproduces and underconsumes. This means they have an excessive savings rate (27.8 percent) and free ride off the U.S. and other [countries'] consumers to drive their growth.”.
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