Yesterday I met Goldman Sachs chair and globalisation guru, Jim Oneil, at a Downing Street seminar. He is the founder of the phrase 'BRIC', and has a powerful thesis about the implications of the pace of globalisation to go with it.

 

His message for the UK is very clear: wake up to the massive implications of the rapidly developing economies. Stop thinking patronisingly of these countries as 'poor relations' needing charity and support but as fast emerging powers and trading partners, and think about how our economies can service them as they develop invreasinly sophisticated needs and aspirations.

 

Its an important messge with far reaching implicatations for our thinking about economic recovery.