Close to 5% devaluation just like that on some crosses in last weeks. Seems like a good idea.
Problem is, what does the UK make that I want to import? :S
Anyone got any ideas? :D
Interesting area approaching on GBPCHF 1.60. Will be interesting to see if it holds there ! Acutally more important for medium term was breaching 1.62 I guess. Think this pair is going to get me off the sidelines!
As a Brit I can confirm that we ceased manufacturing anything in 1989! It's a 'knowledge economy' apparently, I should really be making widgets in a Victorian factory but instead I am trading.
ReplyDeleteThe only good thing I came up with was salt&vinegar crisps... but that would be very low margin import export business :)
ReplyDeleteFriday I was listening to a presentation of a CEO of a continental european chemical/pharma company and he said the key for them was producing or buying the ingredients in places like china then bringing them to western europe to create a finished high margin product.
Expertise and last step of manufacturing being safer here than say in china, where the chance is considerable that shortly after setting up the factory, an identical copy pops up in the neighbour village making and selling the product cheaper.