Mohamed H.

Zakaria, Jeddah, published in Arab News on 16 March 1993 Britains Crisis This is reference to several reports published in your paper about the despondency that has gripped Britain. The crisis is due to a variety of reasons, most of which can be solved. The British can restore their dignity by depending solely on themselves rather than looking at others for help. Politicians and media bear a large share of the responsibility for the present predicament. Despite the shakeout produced during the leaner and fitter Thatcher era, Britain is still stuck in the 13th position in a league table of 22 measuring world competitiveness. Incidentally, Ireland is in the ninth place. The spirit of invention and innovation seems to be dying and industrial competitiveness continues to lag well behind other nations. England has been losing ground to America, Japan and Germany in all fields of economic performance this despite the supposed benefits of the EC and ERM. Since John Major came to power, his government is so pre-occupied with the single objective of escaping re-cession. Nothing else gets his attention. The government can revive the economy and contain inflation only if it can gain the confidence of international markets, and convince the markets that the government possesses a credible policy alternative to ERM. The 1990s seems to be a bad decade for England. Its entry and disgraceful exit from ERM resulting in massive devaluation of sterling has left Britishers wondering what went wrong. The recent announcement of Brussels that parts of England and Scotland will for the first time, be eligible for the maximum rate of EC development aid due to Britains economic decline will do the British morale no good. Time is still there for Britain to retain its position as a world economic and political power. The industrial base which one brought it supremacy is still there, just waiting for the right leadership. Muhammed H. Zakaria Jeddah