The Reaction

In my last Blog I described how our industries collapsed under the threat of low-cost foreign competition, and now I’ll consider if we were ‘innocent bystanders’ in the situation…..or whether we were complicit in our own downfall.

There was of course, some truth in our protestations.

The huge price differentials that were being achieved were in no small part due to the enormously reduced labour rates in the countries that were emerging, and their quality was indeed inter...