If a “surplus country” such as Germany wanted to lower non-wage labor costs and increase value-added tax in order to boost its competitiveness, it would simultaneously have to adopt an expansive fiscal policy to compensate for the negative effects on its partners’ foreign trade.
Si un "país con superávit" como Alemania quisiera reducir los costos laborales no salariales y aumentar el impuesto al valor agregado para estimular su competitividad, simultáneamente tendría que adoptar una política fiscal expansiva para compensar los efectos negativos en el comercio exterior de sus socios.