France is getting the food parcels!
Politicians of all political persuasions see Foreign Direct Investment as a litmus test of an economy's success. There isn't really much reason for this, but there you go.Anyway the OECD has released updated figures for 2003.
China $53bn
France $47bn
US $40bn
Belgium $31bn
Spain $26bn
UK $14bn
Germany $13bn
(Note: Luxembourg had over $70bn but this is considered to be a statistical illusion)
Prepare yourself for these reactions.
First, Michael Howard or the Shadow Chancellor will say it is government 'red tape' that has brought Britain down from the top of this 'league table' (or thereabouts).
Second, Britain in Europe will say the decline is an inevitable consequence of our not joining the euro.
Third, people who have harped on about FDI being a litmus test of an economy's strength will go all quiet, or decide that it is the 'type' of FDI that matters, not its total.
Update: Actually a google search for 'foreign investment' and 'Michael Howard' turns up hundreds of entries. The man is obsessed with it, and in at least one speech said the fact that it was steady shows the government's obsession with euro entry was wrong. Oh dear.
posted by Matthew @ 6/29/2004 12:33:00 PM
Comments: 0
