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Britain joins "race to the bottom".(INSIDER REPORT)(Brief Article)

The New American

| June 13, 2005 | COPYRIGHT 2005 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Leading London economists predict that more than 500,000 jobs "will be slashed in Britain over the next three years," reported the London Telegraph on May 5. According to projections by ABN Amro bank, the British economy "'is set for a dramatic decline' and will 'remain depressed for several years.'"

ABN Amro's analysis is based on the reasonable assumption that "heavily-indebted consumers will stop spending, triggering job losses on the high street [retail sector] and construction industry." The ...

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