The ONS recently revealed their latest report and Frost Magazine found it very interesting. As the seemingly never ending recession kicks our butts, the facts are that we are spending more and more. Check out the survey below.
Family Spending, the annual report from ONS on household expenditure in the
UK, found that in 2011, average UK weekly expenditure rose to £483.60, an
increase of £10.00 on the level recorded for 2010. The 2011 average
expenditure is the highest recorded by Family Spending.
Spending was highest on the transport costs category at £65.70 per week, up
80p from the previous year. Over half of all transport (£36.40) was on
running costs, which rose by £3.10 (an increase of nine per cent, following
last year’s 14 per cent increase). Most of the increase in running costs
was due to spending on fuel, as petrol, diesel and other motor oils
increased by £3.30. Higher expenditure on personal transport was also
reflected in vehicle insurance (£9.40 in 2011 compared with £8.00 in 2010).
On average, household expenditure was more than twice as much on
second-hand cars (£12.90) as new cars (£5.50). Unlike most types of
transport expenditure, spending on new cars decreased in 2011, from £6.50
per week in 2010.
The second highest expenditure category was recreation and culture (£63.90
per week). There was a small decrease in expenditure on audio-visual
equipment (including computers) averaging £6.30 per week in 2011 compared
with £7.20 in 2010. Spending on many recreation items remained fairly
constant, including games and toys (£2.20) and garden equipment (£2.60).
Spending on newspapers, books and stationery was similar in 2011 at £5.70
per week. However, there was a small increase in spending on recreational
services, including cinema tickets, leisure classes and admission to
sporting events, from £17.80 to £19.80. A weekly average of £4.00 was also
spent on pets and pet food. Average expenditure levels in the third highest
category: housing, fuel and power increased to £63.30 in 2011 from £60.40
in 2010. This was partly due to an increase in maintenance and repair of
dwellings, which rose by £1.00 to £7.70. Gross rent rose by 70p in 2011, to
£40.60. Average expenditure on electricity, gas and other fuels was £22.10
per week, an increase of 70p.
Weekly household expenditure on food and non-alcoholic drinks increased
from £53.20 in 2010 to £54.80 in 2011. However, the amounts spent on fresh
fruit (£3.10) and vegetables (£4.00) were unchanged.
Some types of expenditure decreased in 2011. This was notable for household
goods and services, which saw a drop of £4.10 to £27.30. This was mainly
due to a decrease of £2.80 in spending on furniture, to £13.80. Expenditure
on clothing and footwear was also lower in 2011 than in 2010, decreasing by
£1.70 to reach an average weekly expenditure of £21.70; of this decrease,
£1.00 was in clothing, which fell to £17.60. Spending on men’s outer
garments decreased by 60p to £4.20, while spending on women’s outer
garments fell by 70p but remained much higher than men’s at £7.70 per week.
Footwear for adults decreased by 40p in 2011, men’s footwear fell by 10p to
£1.30 and women’s fell by 30p to £2.10.
There were notable differences in expenditure patterns by income, seen by
comparing the ten per cent of households with the lowest incomes and the
ten per cent of households with the highest incomes. The lowest-income
group spent a larger proportion of their total average weekly expenditure
on housing, fuel and power (23 per cent), and food and non-alcoholic drinks
(16 per cent), than those in the highest income group (8 per cent in both
expenditure categories). Households in the highest income group spent a
greater proportion on transport (16 per cent) and recreation and culture
(14 per cent) than those in the lowest income group (7 and 10 per cent
respectively). Differences by income were also evident for internet access,
with 41 per cent of households in the lowest income group having access to
the internet at home, compared with 99 per cent of the highest income
households.
Overall, average household expenditure in the UK was £470.70 per week for
the years 2009–11 combined. There were five regions in which expenditure
over this period was higher than the UK average: expenditure was highest in
London (£574.90 per week), followed by the South East (£539.30), the East
(£497.10), Northern Ireland (£489.40) and the South West (£479.90).
Spending was lowest among households in the North East (£384.20 per week),
Wales (£398.20) and Yorkshire and the Humber (£410.10).
The high spending of London households of £574.90 was partly due to the
housing, fuel and power category, £91.30 per week, compared with the UK
national average of £60.30 per week. Households in rural areas had higher
overall expenditure (£510.50 per week) than those in urban areas (£458.30
per week). This was reflected in expenditure on transport, where spending
was highest (£77.40 in rural areas and £58.80 in urban areas), and
recreation and culture (£68.80 in rural areas and £57.20 in urban areas).
However, expenditure on the housing, fuel and power category was higher in
urban areas (£61.30 per week) than in rural areas (£58.30 per week).
Read the full report at
http://www.ons.gov.uk/ons/rel/family-spending/family-spending/family-spending-2012-edition/index.html
As research from Megaflo, the hot water expert has shown, more than 93% of parents believe that bath-time is one of the most important parts of a child’s day to help them relax, learn and have fun. With the cold weather now upon us, bath time will be more important than ever. We all remember there being nothing better than splashing about in the bath tub when we were little; so from bubbles to shampoo mohawks and bath crayons – here are a few top tips to bring the old favourites back and make your child’s bath time as fun and memorable as yours, without breaking the bank.
1. Sail away!
Bath time just isn’t the same without a boat to play with. Keep all of your clean, empty cartons and bottles as these make great play time accomplices for all of those budding pirates! You can even create some pre-bath fun, by using use crayons and felt pens to help them make their dream vessel a masterpiece! Remember – no holes… otherwise the boat will become a submarine! (Follow these instructions to make your creation. http://www.ehow.com/how_
2. Paint by bubbles!
A new era of children’s toys is upon us with bath crayons and bath paint pallets galore! For the same effect and to save a few pounds, why not get a plastic egg carton and mix some shaving foam with food colouring… you have your very own clean-easy bath colour palette fit for any little artist. Just be on hand to check that inquisitive little fingers don’t decide to try to swallow their creations..!
3. Bath time Punk-Rockers!
One of the best ways to avoid the hair-washing tears is to get your little ones to design their own shampoo mohawk. Create different soapy styles and faces – no doubt you’ll be creating one for yourself too! Everyone’s a winner. Remember to try and find a mild but soapy shampoo, for extra volume but minimal tears…
4. Deep sea aquarium!
All children love aquariums and creatures of the deep sea. Why not create your own right at home in your bath tub? It will also make some good pre-bath entertainment. Simply draw and decorate your fish, mermaids, crabs and other sea-side goodies, laminate them with sticky-back plastic and throw them in. The kids will have hours of fun searching for them in amongst all the bubbles. Why not create some treasure to go with your pirate ship as well?
5. Trusty Rubber Duck never fails!
We all remember using a lovely rubber duck to play with in the tub and with the latest trend for bright and colourful Hippie, Pirate, Union Jack, Princess and Alien ducks, there is sure to be one to please every child! What’s more – these ducks last a lifetime and look great as an ornament in your bathroom. Why not build up a family of ducks and let their imaginations run wild!
Megaflo has teamed up with Pump Aid, the charity dedicated to providing clean water and good sanitation to sub-Saharan Africa, to support a phenomenal Malawi Schools project. The £62k project, co-funded by Megaflo, will provide pupils and staff across 21 schools in the Mchinji District, Central Region of Malawi, with access to clean water and basic sanitation through the installation of 80 toilets and 10 pumps.
For more information, please visit www.megaflo.com.
Clem Chambers book touches on news-worthy and relevant subjects as ageing, the possibility of living forever and the financial markets. A riveting and thrilling read, I got through this book quite fast. The way the book has been written flows beautifully. The First Horseman is fresh and interesting.
This book touches on the subject of what people would do to live forever. This is the fourth book in the Jim Evans series but you can still know what is happening and not get lost.
Jim Evans is a brilliant character and so is his butler, Stafford. Together they make a great team. Professor Christopher Cardini is a good character too. He has a sick and twisted mind, but is obviously a genius. Like all good books, The First Horseman has wonderful observations. I found myself turning the corners of the page to go back to certain parts.
I thought The First Horseman was great and I will now be catching up on the rest of the series, and the rest of Clem Chambers books. Clem Chambers is the CEO of ADVFN, so goodness knows when he finds the time to write books, but I for one am glad that he does.
The First Horseman by Clem Chambers
Some would give everything just to live one more year. To live another
hundred, some would destroy everything.
Jim Evans, retired super-rich trader, only wants to do good. He wants to
fund research that will save lives.
Professor Christopher Cardini has developed medical technology he says
will change the world. Through cell therapy, he can even rejuvenate the
dying.
Yet there’s something Jim will find even all his money can’t buy:
protection from a brilliant, but twisted, mind.
The First Horseman is the fourth book in the acclaimed ‘Jim Evans’
thriller series, by Clem Chambers. It focuses on what might happen if we
had the ability to turn the human body clock back?
If we were able to repair telomeres, the tiny proteins found at the end
of every strand of human DNA – we could live much longer, perhaps even
become immortal, like Hydra.
Yet when such a medicine would result in many more billions of people
fighting to live amongst ruins of an ecologically exhausted planet, what
would be the point?
Professor Cardini sees no point. He plans to deal with seething humanity
in a way that will both shock and horrify. Will he succeed in releasing
his tiny, but deadly ‘First Horseman’ and wreak bloody havoc on the world?
Not if Jim Evans can help it.
Become certified in one of the most popular and useful areas that Cisco has to offer. The design pathway can be mastered by becoming an associate, professional, or expert. Hands-on skill experience and knowledge of network design is required; prior to taking the exam, it is highly recommended that participants take advantage of the numerous training resources available through Cisco, along with the comprehensive practice exams offered by http://www.testslive.com/.
The Cisco Certified Design Associate (CCDA) certification can be attained by passing the 640-864 DESGN examination. Although no prerequisites are required, knowledge from the CCNA and CCNP levels of network switching will appear. The certification will validate the ability to design network infrastructures (switched and routed) and technologies. Obtaining the CCD Professional certification is only possible by passing three exams: 642-874 ARCH, 642-902 ROUTE, and 642-813 SWITCH. Each will cover specific information; advanced network design concepts and fundamentals will be assumed. The internetwork expert certification requires a passing score on the CCDE written exam and practical exam.
Exam information can be found under each certification area in the Learning section of the Cisco website. Earning any of the above exams is a major benefit when confronting employers. A Cisco certification is a strong representation of proper knowledge within the IT profession, and having one in possession can be the one thing that earns you a high-status, high paying job. Train, study, experience, and put your knowledge to the test with a design certification exam.
1 in 4 used cars* are revealed to have finance owing against them, making it the biggest risk to used car buyers today. Now shoppers can avoid the danger with the help of a new vehicle history check service which includes finance data – carstatuscheck.co.uk.
Following on from the successful launch of the Car Status Check app on iTunes and Google Play, vehicle information experts HPI have now launched the service online, which provides three levels of protection, allowing used car buyers to choose the level of protection they need, at a price to suit them.
To get an instant picture of a vehicle’s past; users simply tap in the vehicle registration number (VRM) at carstatuscheck.co.uk to immediately get basic details, such as vehicle make, model and year of manufacture for free. The user then decides how much information they want to buy on their next used vehicle.
Buyers can purchase the ultimate peace of mind with the Platinum Car Status Check for just £9.99, which provides a full history of the vehicle, including if it has been stolen, declared a write-off by an insurer or has outstanding finance registered against it. In addition to this data, the Platinum check is supported with a Guarantee of £10,000 should any data be inaccurate or incomplete.
For those who want the full picture of a vehicle’s history without the Guarantee, the Gold level check is offered for £7.99, which provides a full history check and includes a finance check as part of the service. “We recognise that more cars than ever are bought on credit. If shoppers buy a car that they later find out is on outstanding finance, they stand to lose both the vehicle and the money they have paid for it,” comments a spokesperson from Car Status Check. “This is because the finance company may be the legal owner and have the right to reclaim it.”
Finally, for used car buyers who need to count every penny, but still want an idea of a vehicle’s history the Silver level Car Status Check is offered for £4.99, which provides vital information, including if a car is currently recorded by the police as being stolen, has been written-off by an insurer or it is at risk of being sold illegally.
All Car Status Check customers receive a report for them to download and keep for reference. This confirms if the car is ‘clear’ or not, and includes a CO2 Certificate giving emission ratings, fuel and Vehicle Excise Duty costs.
The spokesperson concludes, “The Car Status Check provides history check information for people on the move. Consumers are offered a choice on the level of vehicle data they need, with price points to match. Knowing the full history of a vehicle is crucial when buying a car, and with all the information available in just 90 seconds – used car buyers are a just a click away from potentially saving themselves from an expensive mistake.”
I met Vanessa in the City. She is fashionable, warm, friendly and passionate. I came to interview her about her amazing site for women in the City: wearethecity.com. A place where women can find help and advice with their work, life and careers.
Vanessa Vallely: “There are three core values that I had in mind when I set it up that hold true. One, that we provide a platform for female entrepreneurs to get their products to market on the basis that it fits into our members’ demographic. We do that by taking away hefty advertising fees for them and to give female entrepreneurs a bit of a leg up. We are also a conduit to charities to get to high net worth women. We will actively promote any network or any organisation that is free that will develop skills for women. So probably 40% of what we do on the website falls into that value set, that is really important to me.”
Frost: First of all, what are you wearing? You look great.
VV: “I am wearing a Britt Lintner dress with my normal Gucci shoes and scarf. She is a fantastic designer. She set herself up a couple of years ago doing dresses and managed to get her collection into Harrods, although she’s taking some time out because she’s raising some small children.”
When did you know you wanted to go into business?
“I left school at 16 with just a couple of GSCEs and headed out into the city with 15 pence and a bag of ambition because I wanted to change my lifestyle and my mum’s as well. We come from a very socially and economically-challenged background, so I knew that I wanted to be successful, I knew that the financial district was two miles away from where I lived and that was where I was going to start.
“I actually realised I wanted to develop the website three years ago due to my frustration with not having a site that covered everything in my life. There needs to be a bit of lifestyle in there because let’s not hide it, I am a woman. I need to eat, I need to have my hair done, I need to find a dentist. But I also wanted to upskill myself outside of my corporate environment, so how was I going to that?
“Women’s networks, courses I could go on – for me it’s frustrating. If I Googled that information, I would spend hours on the internet. I wanted to find it all on one site so my husband said, ‘Why don’t you create a website for women?’ and we built it together.
“So that’s when I knew that I wanted to work for myself. I love my corporate job and run the website outside of work.
“My aspirations in 10 years time are to be the CEO of a charity, because I do a lot for charity still.”
Tell me about being a Pearly Queen?
“It has been in my family for 100 years. The Pearly Kings and Queens were started by an Orphan called Henry Croft and he used to sew buttons on his suit, he was a rat-catcher in the markets.
“If you think about London 100-odd years ago it was still markets, no superstores or anything. So he used to hang around the markets with the costermongers who were the apple sellers. They used to sew buttons on their suits and were called flash boys.
“If the costermongers were down on their luck, their entire family was affected if someone was ill. There was no social security then, so he used to raise money in the markets for his fellow orphans. Eventually he was so much in demand, he couldn’t be at all the markets, so he made head Pearly Kings and Queens of each of the 20 boroughs of the London of the time and they’d raise money for individuals in that borough. My granddad was pearly King of East London and he passed that title to my father and my father passed it to me.
“I have been a Pearly Queen since I was three years old. I was Pearly Queen of Hoxton until this year when I gave that title to my 11-year-old daughter and I have taken the City of London from my dad. So we still go out and put our buttons on for various charities. I don’t quite sing and dance the way I used to, but it is a lovely part of London heritage and we are as famous as the Chelsea Pensioners, so why not do it? The fact that I have a profile in the City helps because it could die out with people getting old.”
I read that you could see the city from….
“I could, from my tower block window. I lived on the 18th floor and could see NatWest tower. I used to say to my mum, ‘I am going to work there one day and I am going to change how we live’. My first job was in that building.
I drive past there now and I look up at that tower block and I think, That’s where it all began’. We were broke half the time. There were lots of people with challenges and me and my mum were one of them, but bit-by-bit we made it out through sheer hard work. Most of my childhood was spent going to school and then cleaning betting shops until 11 pm. I don’t know if my mum still has it, but I think there’s a picture where I am holding a mop that is bigger than I am. I still love to clean – mopping and stuff like that.”
Was it hard getting to where you are now? Any reinforced ceilings?
“Yes, in the City I was different in a time when diversity wasn’t really appreciated. I didn’t speak the right way, I didn’t look right, and had a bit of an attitude. I was quite precocious and quite a forceful individual because I wanted to get ahead. I never had a college network to back me up, I never knew anyone, so I had to fight my corner a little bit harder.
“There were individuals who I worked for along the way who told me I can’t do what I have done. They said I’ll never succeed or I’ll never cut it or I’ll never get that job. I love people like that because they fuel my fire and I love to say to them, ‘Well, actually, you were wrong’.”
It’s all connections isn’t it?
“Absolutely. And I spent the past six years building those connections, not just for me, but for other people. I find people jobs, I mentor, I connect businesses, source providers. I spend probably 30% of my week connecting people to others. That’s why my strapline is ‘Make The Magic Happen’. They can go off and do stuff together. They call me a ‘contentpreneur’. I enjoy doing that and enjoy hearing about what other people have done as a result, because I feel like I was part of it.”
I heard that you were the most connected women in London….
“I do know a lot of people. I do agree that there are only three degrees of separation. I can get to most people if I need to. But I don’t call on favours often. I only call on them when I need them. I am more likely to be found giving favours or doing stuff for other people. That’s my model and I enjoy doing it.”
What do you think made you successful?
“Passion and drive. But also I open most conversations with, ‘what can I do for that person?’ and I think what you end up with is thanks. You are good to other people and they want to help you back. Also volunteering for things other people didn’t want to do. People would say, ‘oh, I don’t want to do that’ if there was a project that was really messy. I was the first one with my hands up, because I think you learn so much as a consequence of being in a mess, fixing it, and getting yourself out of that mess.
“I have always volunteered for projects that other people don’t want and for things I don’t necessarily have the expertise for. There are things I have worked on when I’d have to come home and study. I would read books and call on my network, saying, ‘Can you help me understand this stuff?’. I am not a hugely academic person, but I get things done and I have people skills. I get along so well with people. I think if you approach it a certain way, then people will help you.”
What do you think about the global economy?
“I think we’re in a tight space. I think we have been in a tight space since 2008. You look at what happened with the banks out there, Northern Rock and stuff, it has had a knock-on effect. It’s wider now, it’s countrywide, Portugal, Greece, Ireland.
“I think it’s a tough place to be. I think it’s a tough time for businesses, but I also think tough times are the best place to grow sometimes. You are starting from a very low point. I think there are people who will thrive as a consequence, but we have to watch what we are doing. It’s difficult. It’s difficult for public services, schools, I mean I do a lot of work within charities who have had their funding cut. I think the whole world is feeling the pinch. It’s a scary place to be.”
What was the original idea behind Wearethecity.com?
“It was my frustration that there wasn’t really a website for women. There wasn’t something that showed me a one-stop shop where I could make a change. There are now 20-30 charities that we promote and we have over 200 writers.
“These are girls that have never written for publications before and are amazingly talented. Some of them want to share their experiences and they are writing about a myriad of things, those problems that women face in their careers, life, childcare, elderly care, career aspirations, setting up a business. We are giving them the opportunity.
Wearethecity has grown from being a website that was built on an £8 a month web builder tool that anyone can get off the internet to a website that gets a million and a half hits every single month.
“Let it be noted that I have not done it on my own. There wouldn’t be a me without my husband. He built the website, he is the technical person, he has a full-time job, he believes in the power of women, he believes in me and it is a very supportive partnership. That enables me to do what I do. It is shared responsibility. Yes, when the kids are away we have an argument about whose week was more important, but he is a massive support, I couldn’t do it without him.”
How do you juggle kids with a career?
“Again, it’s a tough one. The kids come first. They have to come first. You have to spend quality time with them and it is quality time. I get up at 5:30 in the morning, generally I am pulling letters out of school bags, I write a few cheques, and I get prepared. I have a childminder that comes at 6:30, I literally hand over as I am walking out of the door. I get into work at 8:45 and I do my full day job. I see people, I do work on wearethecity on lunch breaks or after work, so I don’t mix the two.
When I am here in work, I am here in work. I do my emails on the train. I get home at 7. I see the children, the childminder goes. We tend to do a lot of quality stuff. We go to the theatre and we travel a lot because we live in quite a middle class white area and I grew up in the culturally mixing pot that is Hackney. I don’t want my kids growing up thinking the world is flat or white. I want them to have an appreciation of different religions and cultures. We cook a meal from the culture that we are visiting and then we travel there.
“My kids have a huge world map, probably three feet by two feet, that I bought them a few years ago. Every year, we choose two countries and then we go through a process. They do a little project, we talk about it, we cook a meal and we go. My kids can navigate Heathrow airport, Gatwick, Stansted like you would not believe. It has helped them to grow up. I want them to be the kind of individual who would see a person properly, for what they are, not what they look like or what their beliefs are. That is very important to me.”
Do you think the City is a good environment for women?
If you think of where we came from in the last 40 years, from being able to vote and stuff like that, I still think it is sad that we have to celebrate en masse when a women gets a board position. I would rather that was the norm.
“I also think women in my position should be role models and mentor these women because we need to build the next generation – that next pool of talent – or we’ll never get women who are ambitious enough to get onto boards.
It’s a good spot for women. The young girls that I talk to are coming out with different dreams and aspirations, with a ‘why can’t I?’ attitude, which I like because I think women should continue to push boundaries and I fully support that.”
What advice would you give to other women in business?
“Don’t take no for an answer. Try to remove the emotion. With some things that happen, it’s very easy to get a bit deflated. They just have to dust themselves off, get up and keep trying.
“Networking is one of the most important tools. Meet people, even if you can’t see an immediate need for your business. You never know when that person’s name is going to come up, so spend a lot of time networking with the right peer group. Keep those relationships warm, don’t be transactional, keep in touch even if it’s not a close contact. If it’s a peripheral contact, keep in touch every six months. Drop them an email saying. ‘I thought of you’, that sort of thing. That is massively important.
“Don’t give up. If you have a dream in your head, think about, ‘How do I get there?’. You may be back at the start and your dream is two miles ahead, so how do we get to mile one? Who do we need to help us to get there? What do I need to learn?
“Visualise that short-term goal, but keep the long-term one in mind as well. You just have to keep pushing on. It’s not always easy. I’m not perfect. I had times when I put my head in my hands and thought, ‘Why am I doing this?’ Or when I want to give up, that network around me are the ones that give me the push. You need to push on. That is what I give to my network now.”
I know what you mean, I have times when I think, ‘I can’t do this’.
“But then one of your friends will be strong and they will say, ‘Yes you can’. Then they might have a moment. I think it’s a fantastic time for women, and again, if you hang out with the right set of women who support women, it’s a fantastic place to be.”
It was Madeleine Albright who said there is a special place in hell for women who don’t help other women [Vanessa finishes the quote with me]
Absolutely. And she’s spot on. She said a lot of profound things. She is one of my women that I aspire to. She’s amazing.”
It is an annoying myth that women don’t help other women.
“I can honestly say 99% of women I associate with are absolutely supportive. If we don’t make a difference, if we don’t support other women, if we don’t tell young girls that they can do it, and influence and navigate….
“I don’t think a woman should ever change her make up. I look back at the pictures of me early in my career and I look like a guy, I have a pinstripe suit on. The only thing that says I am feminine is my hair and a bit of make up, because that’s how I thought I needed to be. In order to succeed, I needed to be one of them. I needed to be a ball breaker, I needed to be, ‘I don’t care. I’ll sack that one and I don’t care’.
But you know what? I am absolutely proud to be a woman. Unfortunately, women get labelled very easily, so if you are outspoken about something, you are having an emotional breakdown. If you react to something in a certain way: you’re sensitive, so it is very easy to slap a label on women, and I am like, ‘Why can’t my outburst be described the same as yours? I have a label and you are just being seen as being passionate. There is no difference.”
It’s like that quote: a women who has an opinion is a bitch, but a man with an opinion is strong.
“Exactly. A man and women can say the same statement and people will go ‘Ooh!!’ to the woman and with a man they just say, ‘Alright’. They see things how they are and won’t bat an eyelid. It is easy for women to be labeled and it’s a shame, it shouldn’t be that way.”
This short book is more than food for the brain, it is fascinating, a snapshot of history. Touching on a popular subject and often asked question by the global media; Is china buying the world? 
Peter Nolan’s well researched short book is full of facts and weighty political and financial debate. Nolan certainly knows his stuff, as well he should; he is Professor of Chinese Development at the University of Cambridge and is one of the leading international experts on China and the global economy.
Did you know?: China accounts for 26 percent of the total foreign holding of US debt. However Britain and Japan hold more US public debt than China. China only holds 12 per cent of total US public debt.
Everyone in business should read this book. It also has lots of fun, fascinating graphs and tables. This book gives a stunning insight into business in China, the UK, US and beyond.
Another point I got from the book is a certain racism against China. I know China has a dodgy history of human rights, but it would seem that the western world is finding it hard for anyone else to take over it’s dominance: perceived or otherwise. A point that Nolan point out is not good for peace or international relations. The book also touches on another subject “Who are We?” and are there any business which are British, or American left?
China is the world’s second biggest economy and its largest exporter. It possesses the world’s largest foreign exchange reserves and has 29 firms in the FT 500 list of the world’s largest companies. ‘China’s Rise’ preoccupies the global media, which carry regular articles suggesting that it is using its financial resources to ‘buy the world’.
Is there any truth to this idea? Or is this just scaremongering by Western commentators who have little interest in a balanced presentation of China’s role in the global political economy?
This book is a must-read. A lot of people are worrying about the ‘awakening giant’ of China, let Peter Nolan allay your fears.
