Such criticism disregards two important differences first, unlike China, Germany, as a member of the eurozone, cannot undervalue its currency.

And this isn't something that you can quantify or track or measure, and we tend to undervalue things in society that we can't measure.

True, all countries in the world cannot simultaneously undervalue their currencies. But poor nations could have shifted the burden onto rich countries, where, economic logic suggests, it ought to be placed.