Subjects

Economics

Explore Economics
Search

Before you read this blog please have a look at another blog written by our good friend Mark Johnston from New Zealand. Students of China and the US economy will find it fascinating!

There are good grounds for no longer calling China an emerging economy - it has arrived! The multiple significance of the rapidly-growing Chinese economy is plain for all to see but for Britain, only a small percentage of our exports of goods and services go there and this must change if Britain is to fully engage with and benefit from the rising might of the Chinese consumer. This article from the Daily Mirror provides a non-technical but clear explanation of the growing purchasing power of newly wealth Chinese, thousands of whom are flocking to western shopping malls to buy premium brands. Chinese foreign exchange reserves are also being used to buy up real assets - last week we heard that a Chinese sovereign wealth fund is set to buy nearly 9% of Thames Water.

As things stand Britain’s export businesses are not making the in-roads into fast-growing Asian, African and Latin American countries that is needed to kick-start the recovery. Too many of our exports continue to flow to debt-constrained economies where growth is weak and likely to remain so for some time to come. Read The Economist (Jan 2012) Exports are growing, but too slowly to rescue the economy

Data from Timetric.

To view this graph, please install Adobe Flash Player.

BoP-consistent: China: Exports: SA : quarterly from Timetric

Britain’s monthly balance of trade with China is shown in the chart below.

Data from Timetric.

To view this graph, please install Adobe Flash Player.

UK Balance of Trade with China (£m, monthly) from Timetric

We do have some British exporting success stories in China - British Aerospace, Rolls-Royce, Burberry to name a few - but simple not enough of them at the moment.

 

 

Featured
CPD courses

Teaching Behavioural Economics at A Level

This new course supports colleagues delivering the behavioural economics teaching content for the new AQA A Level Economics specification from September 2015.

Learn more ›

Teaching & learning products

AQA Economics Year 1 (AS) Practice Exam Papers

This resource comprises two practice exam papers (with supporting mark schemes) for each of the two Year 1 (AS) papers. The format of each practice exam paper follows precisely the format of the specimen assessment materials issued by the board that have been accredited by Ofqual.

£75.00

eduqas Economics Year 1 (AS) Teacher PowerPoint Presentations

This resource comprises a complete collection of editable PowerPoint presentations that are ideal for teaching individual topics for the whole Year 1 (AS) teaching content. Each presentation has a consistent, clear and professional format and maps precisely to the eduqas specification teaching content

£100.00

Close

Economics