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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (34078)7/23/2005 3:41:49 AM
From: regli  Read Replies (3) of 116555
 
In essence I agree with it. I personally consider the U.K. to be one of the least competitive of the Western European countries on the manufacturing front. To me the MG/Rover story exemplifies the slide in U.K. manufacturing.

Both Norway and the U.K. had a huge advantage because of the riches of the North Sea. Clearly depletion is now gradually reducing this benefit. It won't be easy for the U.K. in the next few years.

I personally also think that not being part of the Euro zone will turn out to be much more of a problem in the medium to long term. There is an inherent inefficiency and cost associated with currency conversion in trade. When competition is as tough as it is today every percentile in overhead counts.
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