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Originally Posted by jfman
Yet the pound collapsed in 2016 and manufacturing is stalling?
It’s also only a sound economic theory if you have a significant manufacturing industry, and a tariff free market to sell into.
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Is the UK the 5th largest economy in the world ?
An obvious way to convert this is to use market exchange rates—like those you use when going on holiday—to convert local currencies into dollars. Using this method, the size of the UK economy in 2016 was $2,629 billion . Doing the same for the rest of the world allows us to rank the size of all economies. This league table is shown below, with the UK the world’s 5th biggest economy on this measure, just ahead of France but behind Germany, Japan, China and the US.
https://fullfact.org/economy/uk-worl...rgest-economy/
Still not doing too bad thanks
