By Larry Elliott, Dan Atkinson (auth.)
With a moment recession looming, Britain is dealing with a second of fact. This e-book examines how the chief of the economic revolution got here to convey the beneficial properties of a 'developing country'; power debt, risky progress and vulnerability to exterior occasions. Going South explains how this has occurred, arguing that the time for speedy fixes is over.
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Extra resources for Going South: Why Britain will have a Third World Economy by 2014
Sample text
All the major nations apart from the United Kingdom – the United States, Germany, France, Italy, Russia and Canada – were involved. June 1914: A snapshot 47 Protectionism was not always an advantage. The pioneering work of Daimler and Benz in the motor industry did not prevent France from taking an early lead over Germany in car production. As with the Common Agricultural Policy, high prices for the domestic market were accompanied by the dumping of excess output abroad. So while German car makers were paying 140 marks a tonne for their steel, firms abroad could buy it for 100 marks a tonne.
The Treasury has borrowed £700 billion since the start of the financial crisis.
By the time the lights came on again in November 1918, the United Kingdom was an unrecognizable place from the one it had been in 1914. It would never have crossed Grey’s mind to have proposed passports for travel abroad, since as a foreign secretary who much preferred to go fly fishing at his home in Hampshire than to attend June 1914: A snapshot 25 an international meeting, he could never understand why anybody would want to leave the United Kingdom in the first place. But on Armistice Day they were required, and have been so ever since.