Wednesday, Jul 15, 2009
Britain ahead of leading economies
Telegraph: Britain 'further ahead' in race for recovery
If Britain needs to change from being a net importer to being a net exporter, then it is hard to see how we can independently recover ahead of the creditor nations. But apparently we are.
Posted by stillthinking @ 12:01 PM (812 views) Add Comment
8 Comments
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1. mrflibble said...
One minute we are doomed the next we are heading for utopia...
I'll believe the latter when people stop laughing at our currency...
2. hpwatcher said...
I just don't accept that we are far ahead......but I fully accept that there are people attempting to make it look like it's happening.
3. Riskreward said...
Balance of Payments. When that goes into the (Black or Green) again then we know there has been a sea change.
4. inflation is eating my savings said...
Countries with big guns don't need to balance their books
5. Lukeskywalker said...
Personally, I'm never sure of how exports are measured. Wikipedia has them down as being 'transported' but our service economy does not deal with the physical. However anyone familiar with VAT returns will know that the export measurement is monetry.
Anyway, as far as recovery goes, I'm not surprised that we could be ahead as we are smaller and nimbler than "competing" economies, and that we don't have actual stuff to sell may mean that we get back to where we were faster, only to be overtaken when the larger beasts get back on their feet.
6. A. Steve said...
http://uk.reuters.com/article/idUKLNE56E01X20090715
Yes, the thing about polls is that you need to be careful whom you ask. This is a poll of economists - presumably the same economists who were only yesterday saying "no-one saw this coming."
I'll listen to opinion when it is an opinion of someone who is accountable... not some nebulous previously-discredited group, thanks.
7. bleakhouse said...
If they can weaken the pound enough, then lots of things happen. Imports become more expensive so people buy less. Exports become more competitive so we take market share. Imports being more expensive starts to cause inflation, inflation helps to inflate away household debt, All jolly good. However, most hyperinflations require a weak currency and quantitive easing. We shall see.
8. new user 2007 said...
At no point does he say why we are ahead. Are we not using exactly the same policies as the US? And is our financial centre not most linked to the US?