DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - UK Economy to be surpassed by Canada's and Australia's

**Cheaperisdeeper** · 12-07-2009, 07:06 PM

I just realised the article is from the Evening Standard. I wouldn't put too much faith in it.

It's in a few papers, however I don't put much credence in think tanks they often get things very wrong.

As you have already mentioned Alonzo the current high strength of the Euro and exchange rates has affected Britain's position in relation to some European countries, whilst Canada and Australia are much bigger countries with far greater natural resources. However it's not that Britain is going to decline, it's a case of other countries such as the BRIC Nations are growing rapidly and some countries have vast natural resources
such as Russia, Canada and Australia.

Britain risks falling out of world's top 10 economies

Britain could lose its place as one of the world's top-ten economies in the next five years, as it's eclipsed by countries with more natural resources, a new report warns.

http://www.telegraph.co.uk/finance/economics/6750844/Britain-risks-falling-out-of-worlds-top-10-economies.html

By Amy Wilson
Published: 12:18PM GMT 07 Dec 2009

Britain was the world's fourth-largest economy in 2005, but was overtaken by China in 2006, France in 2008 and Italy in 2009, leaving the country in seventh position, according to a report by the Centre for Economics and Business Research.

The report said that the UK could drop to 11th place by 2015, if current economic and population growth and exchange rate trends continue.

Brazil and Russia could overtake the UK as soon as 2012, and India by 2015, the CEBR said. Canada's economy could also be bigger than Britain's that year, if demand for natural resources continues to increase, and Australia may surpass the UK by 2020.

CEBR chief executive Douglas McWilliams said dropping from the top ten won't affect economic growth or the day-to-day lives of most people, but could affect Britain's diplomatic power and mean it has to accept countries with different approaches to human rights and democracy will be in the driving seat in international relations. He questioned whether the UK will be able to keep its permanent seat on the UN Security Council if it drops out of the top ten.

"In the real world there is no league table, no relegation or promotion, no Sky TV payments to lose out on," Mr McWilliams said. "But whether we like it or not, we are going to have to be prepared to put up with economic, political and social decisions that are made internationally, not only in other countries but quite likely in countries which have very different approaches."

12-07-2009, 07:06 PM	#5
Cheaperisdeeper Join Date Oct 2005 Posts 555 Senior Member	I just realised the article is from the Evening Standard. I wouldn't put too much faith in it. It's in a few papers, however I don't put much credence in think tanks they often get things very wrong. As you have already mentioned Alonzo the current high strength of the Euro and exchange rates has affected Britain's position in relation to some European countries, whilst Canada and Australia are much bigger countries with far greater natural resources. However it's not that Britain is going to decline, it's a case of other countries such as the BRIC Nations are growing rapidly and some countries have vast natural resources such as Russia, Canada and Australia. Britain risks falling out of world's top 10 economies Britain could lose its place as one of the world's top-ten economies in the next five years, as it's eclipsed by countries with more natural resources, a new report warns. http://www.telegraph.co.uk/finance/economics/6750844/Britain-risks-falling-out-of-worlds-top-10-economies.html By Amy Wilson Published: 12:18PM GMT 07 Dec 2009 Britain was the world's fourth-largest economy in 2005, but was overtaken by China in 2006, France in 2008 and Italy in 2009, leaving the country in seventh position, according to a report by the Centre for Economics and Business Research. The report said that the UK could drop to 11th place by 2015, if current economic and population growth and exchange rate trends continue. Brazil and Russia could overtake the UK as soon as 2012, and India by 2015, the CEBR said. Canada's economy could also be bigger than Britain's that year, if demand for natural resources continues to increase, and Australia may surpass the UK by 2020. CEBR chief executive Douglas McWilliams said dropping from the top ten won't affect economic growth or the day-to-day lives of most people, but could affect Britain's diplomatic power and mean it has to accept countries with different approaches to human rights and democracy will be in the driving seat in international relations. He questioned whether the UK will be able to keep its permanent seat on the UN Security Council if it drops out of the top ten. "In the real world there is no league table, no relegation or promotion, no Sky TV payments to lose out on," Mr McWilliams said. "But whether we like it or not, we are going to have to be prepared to put up with economic, political and social decisions that are made internationally, not only in other countries but quite likely in countries which have very different approaches."
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