This is an important story reported by AFP.
via “Re-shoring” key to West’s economic recovery: Cameron – Yahoo News UK.
As usual, David Cameron will be keen to grab the headlines but what about the substance to the idea of re-shoring, especially to the UK?
Here are a few random thoughts:
- Labor costs in Europe will need to fall significantly to re-shore from India and China – this will need to include deregulation, job-flexibility, liberalization of work practices
- Enormous effort to energize the domestic work force to compete effectively on skills, dexterity, flexibility, and capacity to work hard and for long hours
- Massive fiscal incentives to promote the re-shoring of jobs and related investment
- Strategic investment in Europe’s major energy opportunities, including offshore gas and oil in Cyprus
Given the omni-shambles across government of David Cameron’s record in office, I struggle to see him promoting serious policy options to encourage the -re-shoring of jobs. For me, the overarching strategy of David Cameron’s government has been austerity.