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Well, that rate also puts a floor under a lot of domestic manufacturing (see how it has worked for China?), so a little bit more complicated that "gee, Miami is
by fixxer 10y ago
Well, that rate also puts a floor under a lot of domestic manufacturing (see how it has worked for China?), so a little bit more complicated that "gee, Miami is so much more expensive now."
- Johnie 10y agoExactly. Low currency is great for manufacturing.
- newrotik 10y agoNot only manufacturing. It will become effectively cheaper to hire people in the UK from outside. We had a (too) strong Swiss franc for years now, and it's been a bane for businesses/economy.
- kartickv 10y agoIt will help British industry, while hurting savers, so maybe it's more a transfer of wealth than an overall benefit or loss?
- guitarbill 10y agosadly it's also become much more difficult to hire people from outside. also, isn't more immigration the opposite of what the leave campaign voted for?
- fixxer 10y agoLittle more nuanced than that...
- Tomte 10y agoUnfortunate that Britain has been deindustrialized over the last decades.
- jacquesm 10y agoYes, it is. If you're a manufacturing country. And the UK hasn't been one for quite a while now, most industry has moved out to other countries (former Soviet satellites and Asia).
- mathgenius 10y agoYeah, and we mustn't forget all those folk from miami who will now go on holidays to england. It's going to be chaos!
- rodgerd 10y ago80% of the cars made in exit-voting Sunderland are there for export to the EU. They will e subject to import barriers. Do you imagine Nissan will be chanting "Rule Britannia" and eating that loss, or do you imagine they'll be moving the bulk of their manufacturing capacity to one of the Eastern European countries that already has a solid car making capability?