But what is more important and a pointer for our future is HSBC’s chief executive’s permanent move to China which should show to any person now with any intelligence at all, that the UK’s financial services are increasingly in terminal decline. Indeed according to leading economists, the City of London contributed enormously to the collapse in the people’s personal wealth through the financial meltdown and where 40% of all global assets of the people were destroyed. For nearly 15-years now our web-based ‘scientific discovery’ newsletter (http://www.thewif.org.uk/version2/nlett/class/issue.html) has been outlining the great threat of China to the economy of the UK. Therefore if people would not listen then, they certainly should now and where politicians should stop investing in the financial sector immediately and start to invest in a new economic base for Britain. For this new economic base resides as we have also said, in the British people’s innovative thinking, the best in the world according to authoritive reports by the government of Japan in the 1980s and Germany in the 1990s. Indeed, this is the only strategy that will prevent the UK from unparalleled economic decline in the 21st century. For continuously we have told succeeding governments over the past two decades what they have to do and where this is soundly based in high-technology. Indeed in this respect, Britain has the most creative minds in the world, commanding up to 55% of all the thinking that has made the modern world what it is today according to both Japan and Germany. Therefore we have to STOP investing in our declining international banking industry and start a ‘New Britain’ based predominantly upon it’s greatest competitive advantage, the creativity and innovative thinking of the British people. But where unfortunately it also has to be said like all else, politicians are always the last to realise this and where they always invest in things that cost wealth and jobs in the long-term through keeping on with persistent strategies that continually consume wealth and not provide. Time has now come therefore for great strategic and economic change, for if not, the people of the UK will witness an incomparable decline in both living standards, wealth and the nation’s standing in the world-at-large. The threat of China cannot be stressed more and where basically it cannot be ignored any longer by our government who are ultimately charged to look after our long-term social and economic wellbeing! That definitely is not being undertaken presently and with their still predominant interest in our financial sector, will further add nails to the coffin of UK PLC over the next 10-years.

Dr David Hill
World Innovation Foundation
Bern, Switzerland

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