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The UK used to know build how to most those things, indeed invented them; they now buy them from abroad. Globalisation and the economics thereof dictate that.
by easytiger 7y ago
The UK used to know build how to most those things, indeed invented them; they now buy them from abroad. Globalisation and the economics thereof dictate that.
India to some degree skipped a step on the way. Much like central and rural African countries skipping broadband and going straight to mobile internet.
- lewisjoe 7y agoYes. UK’s biggest company is not a train engine company. UK learned that it could generate far more revenue by selling financial services with its rich legacy along that line, than export train engines that it invented. India took a similar path in 90s, selling IT services. But it isn’t simply enough given the size and the population of the country. The only sustainable way forward is to become strong exporters of good products along with services.