When will the penny drop?
David Cameron, to his credit, recently spoke about all of the emerging markets (not only just China and India) within the global economy and the effect these markets will have in the coming years.
He said of these emerging economies that they are “lean, fit and obsessed with enterprise” while countries such as the UK are “fat, sclerotic, over-regulated, spending money on unaffordable welfare systems”.
“We’ve been hearing about China and India for years, but it’s hard to believe what’s happening in Brazil, in Indonesia, in Nigeria too” he went on to add “and meanwhile the old powers are on the slide”.
All the stats show how much these emerging markets are picking up speed, despite the current slowdown that is affecting the whole global economy. The Eastern powers are becoming the engine room for the world economy. These powers aren’t hocked up with debt, unlike the Western economies.
Our own politicians seem to spend far too much time undermining UK business and looking for new ways of taxing business and success without looking at what’s happening elsewhere. Tony Blair and Gordon Brown have single-handedly brought this country to its financial knees by creating a welfare system and public sector that we simply cannot afford.
The wealth of this country, ultimately, comes mainly from business activity. The UK has a fantastic opportunity to take advantage of our opportunities within a dynamic world market – now and over the next generation. We need to stimulate growth and attract enterprise from overseas wherever possible.
It’s not good enough talking about it…we need to do something.