Britain’s Sun newspaper comments on a new report by the Centre for Economics and Business Research. The Sun’s focus is Britain, but the report is highly relevant to the U.S. as well:
BRITAIN’s economy has defied forecasts predicting it would be overtaken by France as a new report reveals we have cemented sixth place in the world.
And by 2034 the UK’s economy is now predicted to be a quarter larger than France’s, according to research by the annual World Economic Rankings from the Centre for Economics and Business Research (CEBR).
Brexit was supposed to devastate Britain’s economy, remember?
This is despite forecasts predicting Brexit would trigger an economic slowdown that would allow France to leapfrog Britain.
France was due to overtake the UK economy in the 2016-19 period but failed to do so.
How France, with its generally awful policies, could be expected to overtake anyone is a mystery. This is most relevant to American readers:
The research also found that the USA now makes up for a quarter of the world’s GDP – the largest share of the world’s economy since 2007.
The US share of global GDP is 3.6 per cent higher than halfway through Barack Obama’s presidency in 2011.
Imagine that! Strictly coincidental, according to liberal commentators and politicians. But there are ways in which we could do better:
Australia and Canada, which both have skills-based immigration systems that Boris Johnson hopes to emulate after Brexit, are expected to rise in the rankings due to their success in attracting skilled migrants, according to the CEBR report.
By 2034 Canada is predicted to be the eighth largest economy and Australia the 13th biggest.
A skills-based immigration like Canada’s would do more than just about anything else to give the U.S. economy a permanent boost, but the Democrats will never let it happen.
The left’s “resistance” to the Trump administration, including the current impeachment farce, is all about distracting attention from the administration’s successful policies so that the Democrats can cling to power. Some might call Trump’s successes “winning.”