UK enthusiastic about opportunities to sell to Asia

Published: 23/01/2012 at 12:26 PM
Category: Economy, Featured

“A richer, stronger Asia is an opportunity for the world, not a threat _ we should be bold enough to say it and to explain it to our own populations,” said George Osborne, the UK Chancellor of the Exchequer.

Addressing some 2,000 corporate leaders at the Asia Financial Forum, Mr

"A richer, stronger Asia is an opportunity for the world, not a threat _ we should be bold enough to say it and to explain it to our own populations," said George Osborne, the UK Chancellor of the Exchequer.

UK enthusiastic about opportunities to sell to Asia

Osborne said that if western countries are bold enough to take the right steps, then growth in Asia could mean growth for the West and for Britain.

“It is precisely as Asian economies become richer and become nations of consumers that hundreds of millions of people will want to buy the things that British companies can sell them,” he said.

“They will want to buy modern medicines for the first time _ and when they do so, I want to make sure it is from pharmaceutical firms such as Glaxo SmithKline and Astra Zeneca, the largest employer in the constituency I represent.

“They will need modern insurance, banking, and accountancy services, and when they seek those services I want them to do so from companies such as HSBC, Prudential, Barclays and Standard Chartered. The wealthiest will become consumers of Rolls-Royces made in Sussex, and Bentleys made in Crewe, dressed in Burberry clothes manufactured in Yorkshire.”

The Asian economic growth miracle, he said, was one of the most remarkable achievements in modern history.

He cited the example of the Chinese economy being 15 times larger than it was when he first visited China as a student two decades ago. South Korea in 1960 had the same income per head as Sub-Saharan Africa but today, South Koreans enjoy an average income of $23,000.

“What is the human story behind all these statistics? The desire of people to have a better life and to leave to their children more than they were…

Full story from Bangkok Post at http://goo.gl/I8LnQ

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