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Britain Named A 'loser'

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Britain was today named as one of the main ‘losers’ in an influential report measuring the competitiveness of countries around the world.

The UK came 18th in the annual World Competitiveness Rankings published by experts at the IMD business school in Switzerland – unchanged since last year and up from a low of 22nd in 2010.

But it was still well below the 9th place recorded when the global league table was first compiled in its present form in 1997. The slide made Britain one of the biggest losers along with countries such as France, Spain, Italy, Ireland, Japan and Argentina.

By contrast, the ‘winners’, who have surged up the table since 1997, include Germany, China, Poland, Sweden and Mexico. The United States topped the 60-strong table followed by Switzerland, Hong Kong, Sweden and Singapore. Venezuela was bottom of the pile, with Argentina second last.

‘Europe has lost ground and accounts for more than half of the losers since 1997,’ said Professor Stephane Garelli, director of the IMD World Competitiveness Centre.

Britain was held back by its weak economic performance, high youth unemployment and soaring government debts.

Garelli warned that harsh austerity measures designed to cut state deficits in a number of European states risked antagonising their populations to the extent that they threaten the social stability needed for a return to prosperity.

‘In the end, the golden rules of competitiveness are simple: manufacture, diversify, export, invest in infrastructure, educate, support SMEs, enforce fiscal discipline, and above all maintain social cohesion,’ he said.

Sadly Britain does almost none of the bold bit.

We're numero uno or at parity with USA for tax avoiding corporations, money laundering, and general immoral financial market mechanics.

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Sadly Britain does almost none of the bold bit.

We're numero uno or at parity with USA for tax avoiding corporations, money laundering, and general immoral financial market mechanics.

The plan is to turn the UK into some south asian type sweatshop. They want to expand GDP by expanding the population, not through innovation and technology. Hence Camoron going to pretty much every asian nation pleading for their student to come here, and not sealing off the borders to the EU.

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I'm sure us Brits costing a fortune to house ourselves has no impact on our competitiveness.

Companies are desperate to hire people who require millionaire sized salaries to buy a 3 bed semi-detached.

huh.gif

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Sadly Britain does almost none of the bold bit.

We're numero uno or at parity with USA for tax avoiding corporations, money laundering, and general immoral financial market mechanics.

Some posts do make me laugh.

There are a couple of countries that stand out in manufacturing terms (Japan, Germany) but in general the UK manufacturing output per head is pretty consistent with many other countries.

To say we do "almost no" manufacturing is nonsense.

Now don't get me wrong, I don't see wealth creation in selling houses to each other at vasted inflated prices, and I think Osbourne should be pumping money into manufacturing rather than stuff like funding for lending.

But I think you have to maintain some sort of realistic perspective.

Here is the link. The worlds 11th largest manufacturer.

http://en.wikipedia.org/wiki/Manufacturing#Countries_by_Manufacturing_output_using_the_most_recent_known_Data

When that is normalised for population our manufacturing doesn't look so bad.

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The worlds 11th largest manufacturer.

UK at less than 1/10th of the EU.... UK positioned right between two modern nations of India and Indonesia, and falling.... Something we should be proud of?

What exactly is it that you envision your children doing for a living? How about your grand children?

EDIT: ranked 154th globally as far as industrial growth rate, at -1.2%, right behind Uruguay, exports $481 billion, imports $646 billion

Edited by cashinmattress

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Some posts do make me laugh.

There are a couple of countries that stand out in manufacturing terms (Japan, Germany) but in general the UK manufacturing output per head is pretty consistent with many other countries.

To say we do "almost no" manufacturing is nonsense.

Now don't get me wrong, I don't see wealth creation in selling houses to each other at vasted inflated prices, and I think Osbourne should be pumping money into manufacturing rather than stuff like funding for lending.

But I think you have to maintain some sort of realistic perspective.

Here is the link. The worlds 11th largest manufacturer.

http://en.wikipedia.org/wiki/Manufacturing#Countries_by_Manufacturing_output_using_the_most_recent_known_Data

When that is normalised for population our manufacturing doesn't look so bad.

Stop posting realistic perspectives on here. They do not fit with the programme

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UK at less than 1/10th of the EU.... UK positioned right between two modern nations of India and Indonesia, and falling.... Something we should be proud of?

What exactly is it that you envision your children doing for a living? How about your grand children?

EDIT: ranked 154th globally as far as industrial growth rate, at -1.2%, right behind Uruguay, exports $481 billion, imports $646 billion

India has 20x the population of the UK, so we manufacture 20x the amount per head of population that India does.

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What do these rankings mean when you consider the large numbers of Poles working in the UK and as yet showing no signs of returning en masse to a higher ranked country?

On another matter in this report: "Garelli warned that harsh austerity measures designed to cut state deficits in a number of European states risked antagonising their populations to the extent that they threaten the social stability needed for a return to prosperity".

Are the elites getting nervous?

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http://

citywire.co.uk/money/chart-of-the-day-manufacturings-slow-decline/a506517

The chart in the article goes back to 1978 and shows manufacturing's continued downwards trend since then - but it's also fair to say that going back well beyond 1978 the downwards trend would be similar for decades.

Edited by billybong

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When that is normalised for population our manufacturing doesn't look so bad.

Looks even worse to me.

Looking at other northern European countries.

If they had UKs population the figures would be.

Austria 503

Finland 471

Germany 461

Sweden 447

Norway 421

Denmark 396

Netherlands 352

Belgium 332

France 257

UK 229

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Looks even worse to me.

Looking at other northern European countries.

If they had UKs population the figures would be.

Austria 503

Finland 471

Germany 461

Sweden 447

Norway 421

Denmark 396

Netherlands 352

Belgium 332

France 257

UK 229

OK so we have half the manufacturing capability of Germany and that is classed as "almost none".

The UK may be unbalanced as regards its service/manufacturing sectors, but it's not that unbalanced.

I understand that services may be a dirty word round here, but although it may include bad things, it also includes good things that people/countries want, otherwise those services wouldn't exist.

Changes in the proportion of different sectors in the economy might reflect malaise and inappropriate investment. Or they might reflect transition of economies from "old model" to new ones.

I think in this case something like Apple is a good example.

http://www.forbes.com/sites/timworstall/2011/12/24/china-makes-almost-nothing-out-of-apples-ipads-and-i/

In order to be successful countries need to leverage their strengths in different areas.

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Looks even worse to me.

Looking at other northern European countries.

If they had UKs population the figures would be.

Austria 503

Finland 471

Germany 461

Sweden 447

Norway 421

Denmark 396

Netherlands 352

Belgium 332

France 257

UK 229

Allowing for population Spain was just about on a par with the UK according to its 2009 figures - although I dare say maybe (maybe not?) it might have deteriorated a bit more than the UK since then.

Allowing for population Australia is well above the UK - it's almost on a par with Belgium.

New Zealand would also be at a similar level to Australia and above the UK and New Zealand is often perceived as mainly a farming type of economy, whether that perception is now strictly true or not.

On that basis maybe it's a bit surprising to see the Republic of Ireland seemingly on a par with Germany and well above the UK.

All above the UK in the manufacturing rankings - on that basis. Likely there are plenty of other examples.

It does seem to put the UK's manufacturing performance in perspective.

Edited by billybong

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In order to be successful countries need to leverage their strengths in different areas.

What is/are Britain's strength(s) then?

We're very quickly losing the knowledge industry.

Britain's banking is coming under fire.

Demographic crisis under way.

Energy crisis unfolding.

Where do you suggest our kids go to work in this country, and in what profession?

Fine to say that apple makes money, but it's floated bonds are losing investors their shirts. Their stock prices is tanking. They pay nowt in taxes to the states where they make their profits.

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What is/are Britain's strength(s) then?

We're very quickly losing the knowledge industry.

Subjective.

Britain's banking is coming under fire.

So is everyone elses.

Demographic crisis under way.

This is true worldwide, including Japan, Western Europe and US.

Energy crisis unfolding.

Subjective.

Where do you suggest our kids go to work in this country, and in what profession?

Fine to say that apple makes money, but it's floated bonds are losing investors their shirts. Their stock prices is tanking. They pay nowt in taxes to the states where they make their profits.

What's that got to do with manufacturing ?

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  • Engineering

  • Renewable Energy Tech

Of course you are correct sir; I work in this industry and I'm an engineer.

But not everybody is capable of understanding and properly using calculus, engineering design methods and drawings.

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I'm sure us Brits costing a fortune to house ourselves has no impact on our competitiveness.

Companies are desperate to hire people who require millionaire sized salaries to buy a 3 bed semi-detached.

huh.gif

Yep.

"See my sig." and all that... :(

Morons, all of them.

Well, actually it appears that Osborne gets it, but is unable to overcome his party's NIMBY resistances: http://www.telegraph.co.uk/earth/greenpolitics/planning/10089428/George-Osbornes-botch-job-has-left-housing-in-crisis.html

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  • 246 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


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