"This hurts our competitiveness, creates problems and restrains domestic consumption," Mr. Slim said.
"Inflation has eaten up almost all of the competitiveness created by devaluing," says Miguel Kiguel, the director of EconViews, a consultancy.
"The problem is that we're all competing for so few roles, and the competitiveness creates an unfriendly atmosphere".
The problem that policy makers are wrestling with is how to correct the economic imbalances that German competitiveness creates.
The culture of competitiveness created in the process explains why America is, once again, pre-eminent in technology.
George Osborne has raised the prospect of Britain leaving the European Union if the 28-nation bloc fails to undertake fundamental reforms to improve competitiveness, create jobs and protect the rights of countries which are not in the single currency.
The commission said its goals were to increase competitiveness, create jobs, attract more top researchers and simplify funding rules to facilitate scientific breakthroughs in areas like health, food security, clean energy and transport, and raw materials for manufacturing.
Unable to devalue, others have fared less well.That said, it would be a mistake to ascribe all of Germany's renewed economic strength to export competitiveness created by wage restraint.
Similar moves in previous years—such as permitting the creation of private employment agencies—have had equally pleasing results.The idea that flexibility (along with new technology and international competitiveness) creates jobs might seem less than revolutionary.
If the program succeeds, the report said, it could assure American technical leadership, increase industrial competitiveness, create technology jobs and inspire the nation's youth to pursue careers in science and engineering.
