Turban Explorer

Worked brilliantly for Japan during the 'lost decade'...

Amazulu

They still make so much (40% of the world's electronic components), which employs millions of people - and it's 'real' jobs, high-tech jobs. They build ships, the biggest diesel engines in the world, an insane amount of vehicles, robotics etc. They are innovative.

spartacus

The UK in comparison "value adds" (I think that was how Mr Blair once described it) . . . whatever the **** that means . . .

bcworld

The UK & Japan economies have a virtually identical services / industry / agriculture split.

Amazulu

Since WW2, the decline in UK manufacturing compared to the rise in Japanese manufacturing is brutally stark.

Who won?

Turban Explorer

They can be as innovative as they like but it still hasn't dragged them out of decades of deflation. They have huge government debt (prior to the recent earthquake) of 200% to GDP and an aging population. Just one point - the shipbuilding industry is suffering from massive overcapacity and isn't currently very profitable.

bcworld

This doesn't seem to matter as long as people have 'real' jobs. It reminds me of my trip to Vietnam, just a little bit commie!

Amazulu

What's your solution for the UK then? Or are you happy with the way it is?

I'm sticking up for the UK in this thread - even though it's not my country and I have no intention of living there again. I want to see them being successful - but as it stands, they have no chance.

Over to you

Amazulu

See post #98

Your solution?

Amazulu

I design systems that use a lot (and I mean a lot) of electrical equipment that comes from all over the world. Stuff that comes from Germany, France, Sweden, Finland, Spain, USA, Brazil, Japan, Korea, China, Thailand, Singapore, Australia - plus others. I'm racking my brain, but I can't think of anything that comes from the UK - and I'm being serious.

bcworld

The pubic finances need to be put in order. The composition of the economy doesn't necessarily need to change, I don't believe it is as unusual as you seem to. All of these countries: UK, Germany, Japan, Australia - have dominant paper pushing service sectors that make up between 70-80% of their economies. I think there is more high-tech manufacturing in the UK than you give it credit for. The financial services industry isn't going anywhere.

Turban Explorer

You don't appear to be sticking up for the UK other than offering some appreciation of a much maligned ex Prime Minister. Recovery will be slow and dependent on recovery in close bilateral markets in Europe and the US, R&D and a return to lending by the banks - inevitable as bad debts are removed from balance sheets as time goes on. Boom, bust has been the economic cycle for at least a century and it will continue this way - it's human nature.

Personally I suspect the whole world economic model is pretty screwed longer term, there is only a matter of time until the Chinese property bubble pops and with the increase in overpopulation globally together with unsustainable lifestyles will make things pretty unpleasant for future generations.

geordiebloke

geordiebloke

I blame Bush

bcworld

Gold!

Friggen iPhone!