Next 20 years to be most significant period of global growth predicts Mayor's top economist
Despite increased economic growth over the next two decades, Britain must accept it will have a smaller proportion of global wealth – warns leading economist Dr Gerard LyonsSpeaking at London South Bank University (LSBU), Dr Gerard Lyons - economist and chief economic advisor to Boris Johnson - outlined the implications of China's continuing economic growth, and explained that Britain is perfectly placed as a partner within the EU to take advantage of China's demand for imported goods and services.
Remarking on the global economic growth trends, Dr Lyons said: "The global economic cake is getting bigger, and so is our slice, although we must accept it is smaller in proportion to what we have had before."
Adding that Britain could potentially become the largest economy in Western Europe through investment from China – and the work going on to address political and cultural differences through institutions such as LSBU's Confucius Institute - Dr Lyons predicted: "The last few years have been dominated by the phrase 'made in China', but increasingly this will be replaced by 'bought by China'."