CEBR: UK could drop out of the world's top 10 economies by 2015

Revenge_of_the_Red_Devil

lostinrates wrote: »

Italy is bigger than UK, has stong exports in different industries (eg. food and clothing) plus a strong patriotic spend...people are proud to buy italian made goods, eat Italian food and holiday in Italy. As are a significant number of people here. In Tescos they have a big British-only potatoes section. Alot of TV ads have something about being British in it. It has a good state education system and higher education is often supported through employment. France is much bigger than UK and much more able to provide for itself than us. I don't see how size of the country is necessary relevant

France is a much larger country, and while the politics aren't to my taste they have served some industries well, agriculture in particular and those exports are strong. They are the recipient of a significant amount of foreign investment How many foreign investors are there in London? I'd bet a hell of a lot more than in Paris and through use of nuclear power are less relient than some on oil rich nations. The sorbonne is at least as aspirational as Oxbridge.

both countries are culturally rich as are we, and have strong enduring tourism. we have some of the most famous tourist attractions in the world, and crucially we're visited by richer tourists from more well-off countries

We are a good country, to suggest the situation ''laughable'' is to underestimate our neighbours and over estimate us.

Truly it makes no difference in grand scheme of things whether we're ranked 4th or 7th or whatever, I just think it was/is avoidable to slip behind countries like France/Italy.

lostinrates

As someone from roral industry I'm passionate about good British produce. Our meat, I would argue, is at least equal in uality and superior in welfare...but British potaoes do not rival pasta, parma ham, parmigiano cheese....or Champagne. That more British cheese is not awarded DoP is a travesty imo. we buy lots of foreign stuff comparitively.

Land is a resorce, a significant resourse, and increasingly so.

Foreign investors in EU are going to be increasingly ''hot stuff'' IMO. Oil money for example, we do well out of Arab spend, but Paris does extremely well. Perhaps not getting fingers dirty over wars, and of course the long historical relationship, and ...the fact they are not quite so dependant on paying it all straight back? No idea...but possible.

France and Italy have some of the most famous tourist attractions in the world too. They are accesible more easily by neighbouring normal spends, and I'm afraid the wealthy money does go very willingly to Paris, Milan and rome!

In the grand scheme of things I think it does make a diference, if we want to maintain our standing and standard of living, we can't really rest on our laurels.

Revenge_of_the_Red_Devil

lostinrates wrote: »

In the grand scheme of things I think it does make a diference, if we want to maintain our standing and standard of living, we can't really rest on our laurels.

I mean that the ratings are unimportant really - too many variables and not reliable enough -

and more importantly, more money does not necessarily mean a higher standard of living; comparing the countries with the highest standards of living with the richest countres/those with the biggest economies proves this.

lostinrates

Revenge_of_the_Red_Devil wrote: »

I mean that the ratings are unimportant really - too many variables and not reliable enough -

and more importantly, more money does not necessarily mean a higher standard of living; comparing the countries with the highest standards of living with the richest countres/those with the biggest economies proves this.

Its kind of difficult to prove anything that in truth remains somewhat subjective. I'm having a google for a reference to consider your point...but can't find anything satisfactory...do you suggest a link?

Revenge_of_the_Red_Devil

http://news.bbc.co.uk/1/hi/8290550.stm

http://hdr.undp.org/en/statistics/ (Full rankings)

There are a few similar names - but genearlly the richest countries aren't really near the top.

lostinrates

First link didn't work for me.

Second link is interesting. It would seem that in combination with a reasonably spread wealth and degree of politcal and cultural freedon rank high.

And France and Italy both rank higher than us there too.

ghanagirl

The trouble with statistics like these is that small or tiny factors can bear huge changes in the final places on these types of lists.

France and Italy will suffer badly if the EU cut back on Subsidies to farmers so they have called a summit and not invited the 5 member states including the UK who want huge cuts in subsidies.

Look at the price of gold it shooting up and the reason is China is Buying all the gold it can get its hands on and paying in U.S dollars because they believe that the US dollar will collapse because they are printing to much money to get out of debt.
We the UK hold $250 billion dollars of US treasury securities or U.S debt, this week the U.S are trying to sell more debt $74 billion worth and the price fell and the take up is low.
Iraq started to sell oil in Euro's instead of dollars (the real reason behind the iraq war) then Venezuela and now Iran is only selling oil for Euro's and not dollars (Iran look what happend to your neighbour) and now Putin is Talking about Euro's for Gas and Oil.
When my hubby did his army arctic training in Norway, they were in a nightclub and the locals thought they were rich because they smoked an entire ciggie in one go and not stubb it 2 or 3 times because they were so expensive.
I am from Ghana and my hubbies job has made us live all over the world and i know where i prefer to live and thats here in the UK :beer: and belive me so would 2 billion other people.

movilogo

UK is already 7th [behind USA, China, Japan, India, Germany, Russia]

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29

kabayiri

We should change what we export....I'd suggest we start with AD, Gordon and all the Nu Labour MPs.

Export them to take office in China.

I'd give it maybe 6 months before Chinese people were bickering about the new rice harmonisation program, and a scheme to hand in your rickshaw and get a new VW Polo.

Before you know it they'd be broke and coming to us for a payday loan.