Remember this? The news was only interested in Corbyn and his ‘will he, won’t he’ wear White Tie, or say something controversial or head-butt the
President of the People’s Republic of China. Philip Hammond said at the time:
“This is a way of working together to support the prosperity of Britain, the economic growth of Britain and also to work with China to ensure that China’s emergence is done in a way that ensures she respects the rules-based international system and works with the grain of the international community to be, and to remain, a responsible player on the world stage.” Full article here
That was just over five months ago and things appeared to be looking bright for Tory PLC. However, what a economic disgrace China has proven itself to be yet again! As reported in the Telegraph (1/4/16) China is imposing up to 46% Tariff on EU, Indian Japanese steel in a Cuckoo like attempt to drown Chinese competition. However I can’t blame them alone! They are like any dictatorship, wanting to make up the rules and make everyone else obey to their own benefit. It’s our government’s response, or lack of that’s appalling. The Tories are hellbent on the Invisible Hand of the free market. Cheap steel is good, expensive is bad. This short-termism is damaging for whole communities in South Wales, Scunthorpe and across Scotland. It rips the very means that people have of feeding themselves and their families. However the damage is far worse to the soul of the community. Thatcher drove thousands from work and onto the welfare state making generations depend on benefits ever since. How is that economically sensible? Let alone morally justifiable.
Finally I can see all too easily a future whereby we abandon yet more of our industries to the East because of the price at the cost of the value. When China decides to increase the price we will pay and I’m sure hear the Tory line ‘well it’s nothing to do with us, it’s the free-market don’t you know!’