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UK faces worst downturn of any advanced economy, OECD says

bbc.co.uk

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Re: UK faces worst downturn of any advanced economy, OECD says

#61

Post by realgeniushere »

RC_ITR wrote: post #45
realgeniushere wrote: post #30

Earlier quoted context omitted.

That’s a deceptive analysis because catch-up growth is easier. That’s why the Asian Tigers could grow at breakneck speeds, right until they caught up to Western development levels and stagnated just like everyone else.

What do you mean? Small base growth is easier (that’s the example you give), but catch-up growth in large economies is damn near impossible.

That’s only because of political entrenchment. If Europe loosened their labor laws and made other reforms to bring them in line with American business law, they would probably catch up to American GDP per capita pretty quickly. As it stands, US GDP per capita is 40% higher then even Germany. Do you think the Germans aren’t capable of producing at the same level as the US?

Re: UK faces worst downturn of any advanced economy, OECD says

#62

Post by touristtam »

TapWaterBandit wrote: post #58
TheLoafOfBread wrote: post #57

Earlier quoted context omitted.

> Regained control of borders. This is going to be an increasingly important issue going into the 21st century as Africa is going through an enormous population boom. Actually it is exactly the opposite. When you were in EU and migrant came in on a dingy or hidden in a truck, you could have return him back to France. After the Brexit there is no such agreement and France can just show you a middle finger. See https:/…

Paywall. Can you post the text and date of the article?

If you are in the UK and this is news to you, I suggest that you seriously start looking at the news. This article is referencing the FT article fwiw: https://www.rfi.fr/en/europe/20221028-britain-france-agree-g...

Re: UK faces worst downturn of any advanced economy, OECD says

#63

Post by imtringued »

TapWaterBandit wrote: post #32
matthewdgreen wrote: post #13

Earlier quoted context omitted.

The problem with this plan is that “the UK coming out of Brexit ‘up’” would be meaningfully bad for the EU if it encourages other countries to follow. And at the same time, the party with the greatest power to determine free trade agreements between UK/EU is the EU itself. This always struck me as the worst paradox of the whole idea: you’ve created an adversarial zero-sum environment where a much more powerful oppone…

> In practice it doesn’t look this will even be an issue, since Brexit is already producing such bad results and losing popular support as demographic changes wipe out its base of support. We shall see. Remember that when rejoining the EU are going to try and get the best deal possible for themselves. I think you'll find that public sentiment can turn very quickly under such circumstances. You are also assuming no pr…

Italian debt crisis? You mean that the EU will bail out German and British banks like with Greece?

Remember, the debtors aren't being bailed out, the creditors are. Otherwise creditors would import products from these countries and be made whole very easily if it was about bailing out the debtors.

Re: UK faces worst downturn of any advanced economy, OECD says

#64

Post by chmod775 »

realgeniushere wrote: post #61
RC_ITR wrote: post #45

Earlier quoted context omitted.

What do you mean? Small base growth is easier (that’s the example you give), but catch-up growth in large economies is damn near impossible.

That’s only because of political entrenchment. If Europe loosened their labor laws and made other reforms to bring them in line with American business law, they would probably catch up to American GDP per capita pretty quickly. As it stands, US GDP per capita is 40% higher then even Germany. Do you think the Germans aren’t capable of producing at the same level as the US?

You honestly believe these differences are duo to internal policy?

This may be interesting to you: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)...

Re: UK faces worst downturn of any advanced economy, OECD says

#65

Post by realgeniushere »

chmod775 wrote: post #64
realgeniushere wrote: post #61

Earlier quoted context omitted.

That’s only because of political entrenchment. If Europe loosened their labor laws and made other reforms to bring them in line with American business law, they would probably catch up to American GDP per capita pretty quickly. As it stands, US GDP per capita is 40% higher then even Germany. Do you think the Germans aren’t capable of producing at the same level as the US?

You honestly believe these differences are duo to internal policy? This may be interesting to you: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)...

And considering PPP, the US still smokes all the major European powers. What is your point?

Re: UK faces worst downturn of any advanced economy, OECD says

#66

Post by chmod775 »

realgeniushere wrote: post #65
chmod775 wrote: post #64

Earlier quoted context omitted.

You honestly believe these differences are duo to internal policy? This may be interesting to you: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)...

And considering PPP, the US still smokes all the major European powers. What is your point?

It does not seem like you want to give any contrasting explanation so much as a thought.

Your 40% gap turns into an 18% gap. Further more libertarian economies don't look particularly exceptional.

Together this suggest that the differences in GDP are much more easily explained by existing wealth and foreign policy/trade, instead of domestic factors.

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