You are missing out one relevant point: currency. It is easy to win at exporting if you pay employees in a functionally worthless currency. Germany's trade sur

You are missing out one relevant point: currency. It is easy to win at exporting if you pay employees in a functionally worthless currency. Germany's trade surplus is 10% of GDP, this is roughly where China was at peak. Germany can win at exporting because: consumers are conservative and will accept large corporations milking them, and other countries in Europe are willing to let Germany export deflation to them. It is one of the most unsustainable economic models (and the source of significant global financial instability...China's trade surplus peaked in 2008, not a coincidence) and that is before you consider the need going forward for high levels of innovation, business creation, etc. I didn't say on earth: I managed that section, I said in the developed world. If you provide a counter-example then I will accept you are correct.