“relegation zone”
No national industry strategy
Labor costs
Neg. entrepreneurship
GNP < 16 competitor nations
Labor unions: conflict, strikes, high wages
Labor unions
Complex global changes
Empire’s sun setting
“Maggie’s back in town”; confidence
End of colonialism
Too conservative
Industry revolution moved on to GE, US
Laggard initiative, enterprise, and entrepreneurship
Comparative advantage (-)
Atomistic – many reasons
Still has niche qualifications
Slowed demand, slow growth
Foreign competition
Nepotism…
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