Surviving the Asian Century: Four steps to securing sustainable long-term economic growth in the UKPublished Mon 22 Aug 2011
This discussion paper - which forms part of IPPR's New Era Economics flagship programme of work - draws on the historical evolutionary strand of economic analysis and a suite of comparative economic data to explain the nature and the scale of these challenges. Our aim is to understand how this period of global and technological transformation will affect the UK, how our economy will need to adapt, and how this should shape policymaking over the coming years and decades.
A closer look at comparative economic data suggests that the key weaknesses which characterised the UK economy throughout the 20th century still exist today: lower business investment, a weaker skills base, less innovative and productive firms, and a smaller presence in the most vibrant emerging markets. The UK economy needs to be at the top of its game, and it is our view that the UK's ability to address these challenges will determine its success or failure in the Asian century before us.