I fear for britain, at a time when its sustained ability to punch above its weight, economically and diplomatically, is finally ebbing. With the end of irrational exuberance, the country found itself in an especially difficult position, when the need is to eat a slice of humble pie and be fleet-footed in recognising that many of the pillars its strengths were built on have collapsed. The need was to recognise other supports and partners and embrace them. Instead, the country went in exactly the other direction. Not good.

get them to come, and they will build

A quite nice twist, I thought, on the much-maligned build it and they will come school of economic thought, which I used whilst speaking at the hilton hotel to make a point about a city that really wants to show its international colours. It all went down very well. You can read it here.