@richardjmurphy misses the difference between global and local

It\’s not like he doesn\’t miss other important differences, is it?

The FT says twice as many business leaders say that the world economy is going to improve in the next six months than think it is going to get worse, according to the FT/Economist global business barometer.

Well, I presume the survey does say that but I find that distinctly weird, or yet further evidence that these people are utterly out of touch.

He then goes on to point out that we\’re not doing very well etc.

But he\’s missed the really important point. The FT survey is about the global economy. China\’s still going at 10% (for how long who knows) India at 8%…..that\’s a third of humanity right there. Sub Saharan Africa is growing (yippee! and who thought they\’d be able to say that?) which is another sixth of the species.

The IMF, World Bank, OECD, G7, G20, Uncle Tom Cobbleigh and everyones\’ grandmother all think that the global economy is going to continue growing rather strongly.

There might be local difficulties, sure, no one\’s prediciting imminent growth in either the Greek or Portuguese economies, but if you\’re commenting upon a survey about global growth it\’s worth remembering that it is about global growth.

It\’s not about whatever some twat in Whitehall is doing, it\’s about the triumph of neoliberalism in putting absolute poverty into the dustbin of history, where it belongs.

4 comments on “@richardjmurphy misses the difference between global and local

  1. Who to believe – loads of people who actually work in business, who have no political axe to grind, or, um, Murphy.

  2. You couldn’t make it up:

    ‘further evidence that these people are utterly out of touch.’

  3. But Murphy has always been parochial. The rest of the world must change to prop up the UK tax revenues.

    Even when he goes international, it’s still basically all about the evil British tax avoiders.

  4. Sub Saharan Africa is growing (yippee! and who thought they’d be able to say that?) which is another sixth of the species.

    Thanks largely to my tireless efforts. 🙂

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