It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Britain's Economy growing faster than all other G7 Country's

page: 1
0

log in

join
share:

posted on Mar, 21 2007 @ 10:07 AM
link   
but i don't get why or how?

as far as i'm aware britain's main trade and industries have always been:-

. coal (dying business)
. steel (dying business)

so why is our economy booming?



posted on Mar, 21 2007 @ 10:10 AM
link   



posted on Mar, 21 2007 @ 10:39 AM
link   

Originally posted by st3ve_o
but i don't get why or how?

as far as i'm aware britain's main trade and industries have always been:-

. coal (dying business)
. steel (dying business)

so why is our economy booming?


Coal and steel (i.e. commodity production) may have been big employers in the past, but they were never the staples of the british economy.. manufacturing was. These days though, much of this goes on in the far east, and now the service sector is the biggest part of the UK economy, which includes such things as financial services, tourism, IT services etc..

Then there's the high tech/software industries, the creative industries, trading and retail etc.. We are world leaders in many of these areas.

Nothing wrong with the service industries.



posted on Mar, 21 2007 @ 02:04 PM
link   
There's absolutely nothing wrong with the service industry, mainly because that's what's going to be the primary source of economic productivity from this point forward. We're pretty much past the industrial era.



posted on Mar, 21 2007 @ 02:25 PM
link   

Coal and steel (i.e. commodity production) may have been big employers in the past, but they were never the staples of the british economy.. manufacturing was.


Manufacturing is going east as you said, to cheaper wages. However the high-tech research and development is still going here. The design work for most products can be done in the UK and sent abroad to be manufactured cheaply.

Add to that the high-tech industries tend to bring in more cash and industries such as communications, software and electronics need a higher standard of engineer, mostly found in western europe. Not to say other countries engineers are bad, I have met a good few who are excellent, it is just that there is a larger base of experience and talent to draw from in the UK.

I doubt the services industry brings in very much. I would say finance and high-tech industries (Comms, electronics, Bio) are the bread and butter industries in the UK.

Also, it seems the UK has many small businesses which have taken the ball with environmental industries (low/no carbon houses, solar tech) and run with it. One to watch for the future.



posted on Mar, 21 2007 @ 07:13 PM
link   
Were also the largest arms dealers in the world, that probably helps.



posted on Mar, 22 2007 @ 12:17 PM
link   

Originally posted by Mr Jihad
Were also the largest arms dealers in the world, that probably helps.


Yup, surprising the profits from high tech and low morals!




posted on Mar, 22 2007 @ 05:05 PM
link   
we have

Oil (companies)
Weapons
Aircraft
Loan Repayments from other countries
and whole load of other sources

[edit on 22-3-2007 by bodrul]



posted on Mar, 22 2007 @ 10:50 PM
link   

The Bank of England deliberately stoked the consumer boom that has led to record house prices and personal debt in order to avert a recession, the former Bank Governor Eddie George admitted yesterday.

Lord George said he and his colleagues on the Monetary Policy Committee " did not have much of a choice" as they battled to prevent the UK being dragged into a worldwide economic slump by slashing interest rates. And he said his legacy to the current MPC was to "sort out" the problems he had caused.

Lord George, who headed the Bank for a decade from 1993, revealed to MPs on the Treasury Select Committee that he knew the approach was not sustainable. "In the environment of global economic weakness at the beginning of this decade... external demand was declining and related to that, business investment was declining," he said. "We only had two alternative ways of sustaining demand and keeping the economy moving forward - one was public spending and the other was consumption.


Candid response from Ex-Bank Governor: www.belfasttelegraph.co.uk...

Peace &
Good Fortune
OBE1




top topics



 
0

log in

join