Large redundancies of skilled employees are in prospect in Scunthorpe, Redcar and Lanarkshire, Scotland. This could simply have been prevented.
Britain’s heavy industry is a diminishing reality. It was a world leader not so long ago.
Whenever industry is closed, there occur knock-on effects. Quite apart from component manufacturers, service industries and local business also experience the impact, as customers and clients evaporate.
A nation cannot thrive on service industry alone: services cannot service thin air.
The culprit, once again, is the penetration of cheap imports from the Far East – in this case China.
Politicians, as usual, complain loudly and pugnaciously but they have no desire or stomach to challenge the philosophy behind such economic and human misery:
Globalisation revolves around free trade and the export of capital, technology and inventions to build up competitors. As Sir James Goldsmith observed, globalisation will result in the diminution of wages in the West to those of the developing world. The import of millions of unassimilable migrants from the developing world assists that ambition.
All of these factors help, in part, to explain the pronounced stagnation or flat-lining of wages throughout the West since the recession of 2007.
Free trade benefits multinational corporations, not only for the aforementioned reasons but also for taxation purposes, because they engage in such practices as transfer pricing, whereby profits are transferred to low taxation economies.
Multinational corporations despise nation states. They prefer regional trading blocs, such as that of the EU, where only one set of regulations apply rather than 28, as would be the case without the EU.
The category that gains most from globalisation is the international banking industry. Large financing combines such as Goldman Sachs make vast profits from globalisation. On behalf of their globalised clients, they buy and sell companies, engage in acquisitions and mergers, raise finance for companies – loans, IPOS, rights issues, mezzanine finance, collateralized debt obligations and so on – and this is quite apart from the advice and activity they provide to governments, either in the form of privatising industry or raising money. The international global banker thrives in a globalised environment, where his profit draws advantage from free trade and the diminution in the authority and integrity of the nation state.
Britain’s steel industry is the victim of globalisation but it need not be this way. Specifically, in the present circumstances, the UK should simply impose import tariffs on cheap Chinese imports. Given the massive balance of payments imbalance between the UK and China (and, indeed, the West and China), this would be advantageous and it would safeguard not only the UK steel industry but those who work within it.
There are, however, a number of additional factors at play, which characterise much of Chinese industry. Quite apart from the cheaper labour available in China – and similar nations – the Chinese gain advantages from currency manipulation, the absence of similar health and safety requirements as exist in the West, the lack of effective trades unions to represent employees’ interests, the relative absence of social security funding (ie national insurance) and, not least, the availability of significant state subsidies.
Finally, the ridiculously high costs of UK energy – levied to combat unproven and arguably bogus climate change – render UK manufactures at a massive disadvantage. This fraudulent theory, alone, is a leading factor behind the ‘de-industrialisation’ of the West.
The main political parties are all proponents of globalisation – Lab/Lib/SNP/Kip/Con. All of them are financed by the promoters of globalisation. That is why all of them also support the catastrophic imposition of multiculturalism. Multiculturalism is an essential component of globalisation because it undermines the identity of the indigenous inhabitants who created nation states.
The British Democrats understand the nefarious processes involved in globalisation, what is behind them and how to deal with them, to safeguard British and, more generally, Western interests.