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BERLIN (MarketWatch) -- "Simply put, export growth leads to job growth and economic growth," President Barack Obama said last week as he set up an industry panel to help him achieve his ambitious target of doubling American exports over the next five years. "This isn't just about where American jobs are today. This is where American jobs will be tomorrow."With this sort of endorsement ringing in their ears, it's no wonder that German policy-makers are not taking too seriously the president's equal-and-opposite entreaties for the Germans to do more to stimulate domestic consumption and rein back on exports as the prime source of economic growth. ... Officials close to Schaeuble report with satisfaction that rumours of his health-related resignation that swept the German press earlier this year during the height of euro worries have now completely subsided. And there is considerable disdain for the rhetoric of President Obama and his advisers regarding Germany's export-orientated economic progress. Particular derision is reserved for the rhetoric of Nobel prize-winner Paul Krugman, who with his recent diatribes against an allegedly inflationary bias in German policies is widely regarded in Berlin as somewhat imbalanced."Obama is becoming increasingly transparent," says one satisfied German official. "With his arguments that we should become a bit less reliant on exports and allow the others to catch up, he's just trying to weaken us. Well, we're not going to take his advice." ...
