Sunak claims 'Brexit Britain' became world's fourth biggest exporter - is he right?

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The Conservatives claim Brexit has enabled the UK to leapfrog a number of other countries to become the fourth biggest exporter in the world.
Sky's Ed Conway has been looking at the trading statistics to see if this stacks up.
Read more here: news.sky.com/politics
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Опубликовано:

22 июн 2024

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Комментарии : 766

@MAC_ABC 7 дней назад

Can we appreciate how good this guy is in cutting through politicians crap & points out straight facts. Great journalism.

@piccalillipit9211 7 дней назад

Exceptionally good...!!!

@Pikestnt 7 дней назад

Excellent. Just like the Radio 4 programme “More or Less” which has been examining such numbers for many years now. Unfortunately, it’s trendy to hate the BBC and all it stands for 😀

@piccalillipit9211 7 дней назад

@@Pikestnt Not lived in the UK for 15 years but I used to love Radio 4

@joeduffy3309 7 дней назад

He destroyed farages 20k tax policy yesterday showing it will only benefit the wealthy, the bots didn't like it, it wasn't on their script

@kirishima638 7 дней назад

Except he failed to point out the crash to 6th place on the first chart in 2016. I wonder what happened in 2016?

@IvarDaigon 7 дней назад

Fourth biggest exporter of BS.

@ulfosterberg9116 7 дней назад

No, thats north Korea. Uk is actually the third biggest exporter of BS.

@stuartmelville5684 7 дней назад

I THOUGHT THAT WE WERE FIRST IN BS DAMM

@thomasswift3563 7 дней назад

tell that to the UN who say this and the IMF?World Bank who state theUK is 3rd fastest G7 economy

@jonathanbowen3640 7 дней назад

@@thomasswift3563 only for very specific period of time. That's not the macro, long term trend. Overall the UK has not done well since before 2008.

@thomasswift3563 7 дней назад

@@jonathanbowen3640 but of course anything that doesnt project the UK in a bad light is oh yes but macro trends - if Brexit and the Tories are so bad how come the figures aren't worse and how come on every metric various organisations show the UK expanding as the IMF/Worls Bank reports the UK 3rd fastest growing in the G7

@RazorMouth 7 дней назад

Selling off your gold reserves and claiming it as exports 😂😂😂😂😂😂

@RazorMouth 7 дней назад

@@peterholden3672 same thing 🤣 The UKs largest export currently is gold.

@Nice0n3 7 дней назад

@@RazorMouth Its not an export as its not made in the UK. It only passes trough... Which is even funnier.

@mikedennington8856 7 дней назад

@@peterholden3672 Gordon Brown sold the UK gold off when he was in power at the lowest price gold had been in 20 years. It's come back a bit since then to 310 tonnes.

@Mark-kh1ny 7 дней назад

“Gold Reserves” and the Gold they are trading, are two entirely different things. We’re the world hub for trading Gold, ~70% of the world’s trading volume are stored in our vaults.

@Mark-kh1ny 7 дней назад

@@Nice0n3the definition of an export isn’t solely whether it’s made in that country. That’s a Wikipedia answer…. Exports are defined based on the movement of goods across borders, regardless of where the goods were originally produced. When gold leaves the UK to another country, it is counted as an export because it involves an economic transaction that affects the country’s balance of trade. Also ownership of the gold typically changes hands during the transaction. When UK-based entities sell gold, regardless of its origin, it represents a commercial activity that impacts the economy.

@kirishima638 7 дней назад

We’re an export powerhouse alright, we’re exporting our doctors, nurses, professionals and youth who have no future here.

@boofuu3145 7 дней назад

not surprised with DEI turning our away from uni or the workplace , to hire from abroad for their religious DEI stats

@pablogats4627 7 дней назад

Even us immigrants are going back 😂

@jeongbun2386 7 дней назад

@@boofuu3145 take a nap

@Skygrey2943 7 дней назад

@@boofuu3145That's complete rubbish.

@boofuu3145 7 дней назад

@@Skygrey2943 nope even the RAF had to apologize for discriminating against white men , fact

@mum2jka 7 дней назад

I wonder why they didn't include 2023? According to the international figures available, including gold, the UK sits in 13th place for exports...

@peteroneill2991 5 дней назад

Yes, I was arguing with a brexit supporter last week about that claim of 4th, just rechecked Statistica and Yes the UK was 13th in 2023. If I remember right in 2022 we were the 4th largest importer?

@AngelaVlahos 5 дней назад

russian oligarchs have no power

@zenastronomy 4 дня назад

probably sanctions on russia. Russia is a huge miner of gold and Russian mining companies listed on London before the war. sanctions pushed them all abroad now to china and dubai.

@tophat593 7 дней назад

Very good journalism here.

@Sonicade 7 дней назад

GCSE level journalism. Virtually all the countries on that table, can have something removed. Like Oil. Look at Oil price for the year and exports. Same with Netherlands and their 'Rotterdam effect'. Nothing new here.

@davep7176 7 дней назад

@@Sonicade The government is making out like we are exporting a lot when in reality they horded all the gold in 2021 and then sold quadruple the normal yearly amount in 2022 and then claimed we are the 4th biggest just based on that alone. If they export oil, they do that each year, they don't buy that in, horde it and then re-export it later.

@therodentofurbana2568 7 дней назад

so taking an objective sample and making it subjective by removing undesirable traits to fit the narrative is good journalism? In my books that is called introducing bias.

@Thomas15 7 дней назад

⁠@@therodentofurbana2568 No, it’s demonstrating how statistics can be illusory, because a decline can easily be hidden in the data. Britain’s non-gold trading (i.e. most) has declined, but this fact is masked by the data on gold trading.

@shaun906 7 дней назад

we are not stupid, we can tell we've gone down hill since the tories took power.

@Moneyyes1256 7 дней назад

Tories big pile of💩💩💩

@markwalker2627 7 дней назад

But yet millions are stupid as they will STILlL vote Tory 😢. Asfor Reform its just the Tories mk2😮

@jamie_2452 7 дней назад

I think even if it was labour instead they both would've cocked it up. Our economy per head is higher than ever because of our immigration laws and this is something both tories and labour have contributed to.

@SlowhandGreg 7 дней назад

The Tories moreso due to squeezing public sector pay reduction in train8ng and n9t regulating the gig economy @jamie_2452

@johnnyj2066 7 дней назад

Vote Tory 2024. Vote Rishi 💪💪💪

@goelnuma6527 7 дней назад

All lot of the Gold is owened by other countries central reserves or central banks, they store in the London... its not even our gold

@hbt739 7 дней назад

Oh thats bad does that mean that it went down because of less trust in the uk economy?

@davidcolin6519 7 дней назад

In which case, it's not an export. In order to count as an export it has to change hands from the UK government to that of another, or a financial institution which does not have its principle operations within the UK.

@boofuu3145 7 дней назад

exports crossing borders is how they measure it , they measure it the same for every country , not everything that crosses a border is made their , they go right around the world ha ha ha

@boofuu3145 7 дней назад

@@davidcolin6519 no it doesnt , if that was the case the international stats would reflect that , and would be fraud if they cooked the books

@shaun906 7 дней назад

because it "passes through" the uk, it boosts exports. enough to move us from 6th exporter to 4th in the world. which the tories ate claiming is regards to increased trade, after brexit. the tories can't help but lie!

@piccalillipit9211 7 дней назад

*THIS SHOULD BE THE DEFAULT STANDARD FOR JOURNALISM...!!!* exceptionally good...!

@kktg8370 7 дней назад

It's only the standard when they want to catch people out

@sophielovez5340 7 дней назад

Agree agree agree!!!!

@johnnyj2066 7 дней назад

Bullshit! Vote Tory 2024💪💪

@noutubenamesleft 5 дней назад

It's pure data snooping that's been done because the Boss who he hasn't met has dictated it be done.

@mistervo8185 7 дней назад

Oh wow, the UK doesn't even mine the gold. Yall just handling it back and forth, counting it as export

@liamatsutv 7 дней назад

It’s remarkable that SKY NEWS is finally (FINALLY!) reporting the anti-Tory truth.

@davidhollins870 7 дней назад

Along with GB News and Daily Heil - why might this be?

@liamatsutv 7 дней назад

@@davidhollins870 😉

@T5Zplayer 7 дней назад

The truth? Truth is, we are a great exporter. We are a great nation. So why does Labour keep running us down and insulting all our industries?

@davidcooney3100 7 дней назад

No fear of the BBC telling us the truth, as they're in the Tories pockets.

@aaronaaronson7600 7 дней назад

@@T5Zplayeroh grow up.

@the3spirit 7 дней назад

*So we have been worse off since Brexit. Point blank, period.*

@boofuu3145 7 дней назад

how have we when we still fourth? we always a top gold exporter , even before brexit, what happened to trade dropping off a cliff?

@philthrelfall5294 7 дней назад

@@boofuu3145 But we don't mine significant gold, the UK just trades it. It is not even like goods, where we can add value. This is just markets moving money around. To claim the UK is a big "exporter" on the basis of this is very misleading.

@aleph8888 7 дней назад

Exaggerating the economic effects has been the primary purpose of the Remain campaign and this has badly undercut their credibility.

@TheLastCrumb. 7 дней назад

The money goes through the uk economy@@philthrelfall5294

@Deepthought-42 7 дней назад

What is this measured in? The value of the pound has dropped more than 20% since the brexit referendum in 2016 and never recovered.

@Dan-ly4px 7 дней назад

Ed Conway is an asset to Sky. Love the way he is able to use statistics to tell the truth about what is happening in the UK.

@zedrake 7 дней назад

This is absolutely brilliant journalism!! I feel like I actually learnt something

@wjhd6823 7 дней назад

Why did no-one call Farage out? He's been parroting this rubbish for weeks.

@silondon9010 7 дней назад

A Romanian Beggar outside every supermarket in London thanks to free movement from the European Union, fantastic take a bow 😢

@stephenconway2468 6 дней назад

@@silondon9010 Freedom of movement allowed us to deport them after 1 month.....but we never used that right. Take a bow

@silondon9010 6 дней назад

@@stephenconway2468 yes I remember that happening 😭😭

@stephenconway2468 6 дней назад

@@silondon9010 So Brexit was worse than useless. We had the controls for EU migrants.

@silondon9010 6 дней назад

@@stephenconway2468 Free movement was a wetdream for big business and the oil 🛢 for the gig economy

@benbow7 7 дней назад

Zero seats.

@johnnyj2066 7 дней назад

Tory 2024💪💪💪💪

@user-lt5no1xt1z 7 дней назад

Conservative will win some seats

@terryj50 7 дней назад

They will get more than rejoin eu lol

@hg82met 7 дней назад

What are we exporting exactly? Untreated sewage?

@pablogats4627 7 дней назад

Were also importing a lot of sewage 😂

@zenastronomy 4 дня назад

hoolignism and Xionism is uks biggest exports

@benrayner9813 7 дней назад

This guys brilliant, let's see more of him hopefully 🤞

@boofuu3145 7 дней назад

yes i want to see same energy when the left in power , lets see what labour do

@piccalillipit9211 7 дней назад

*MONEY LAUNDERING GOLD* thats a Brexit benefit...!!!

@cYYAN88 7 дней назад

Hey a media doing journalism. That should be breaking news!

@3ddieLowFilth5layer 7 дней назад

I don’t even need to watch the video - if Sunak said it then it’s obviously not true 🤷‍♂️

@user-wj4yk8ly1d 6 дней назад

He Is deaf and blinde

@user-wj4yk8ly1d 6 дней назад

As if An ultra orthodoxe far right figure

@runtothehills8992 7 дней назад

World's #1 importer of brain surgeons and engineers.

@BasedLibertarianZ 7 дней назад

hahaha. Also number #1 exporter of doctors 😆

@aaronaaronson7600 7 дней назад

Oh cope harder

@thirdmeow2270 4 дня назад

@@aaronaaronson7600You're a traitor.

@aaronaaronson7600 4 дня назад

@@thirdmeow2270 why am I a traitor? 😂😂

@tosinanimashahun3647 7 дней назад

Well Done Ed Conway !! Unreal reporting !! This what the media should be !! Helping us get the truth !!

@the_hetman 7 дней назад

It’s not as if the gold in London vaults even moves. It’s just traded around between foreign entities.

@alipaf2002 7 дней назад

Lies, damned lies, and statistics

@johnnyj2066 7 дней назад

Rishi is well educated. He don't lie.

@zootrunner 7 дней назад

Torries clutching at straws as always.

@Quyanxi 6 дней назад

I'm missing a lot of information here: 1) Exports of what exactly? Is it production + services, or services only? A breakdown of the aggregate would be useful. 2) Is the trade of the other listed countries inclusive or exclusive of intra-EU trade? 3) Is the UK's so-called leapfrog down to the fact that the other countries had performed worse, or because the UK had performed better? I understand it's a lot to ask to include in a 3-minute video, but one should always be weary of simplification of the complex.

@petekadenz9465 6 дней назад

Our exports plummeted when we left the single market.

@gdwlaw5549 7 дней назад

SO TRADE IS LOWER THAN 2016......I wonder with which trading block?

@hairyhaggis7431 7 дней назад

Part of the issue is politics is driven by sound bites. Even the debates have been very quick-fire. It encourages basic, elementary answers that do not go into enough detail. It also makes it easier for politicians to make misleading claims like Sunak did…

@bryandavidson6386 7 дней назад

Very true. Shallow politicians doing shallow politics.

@chrissanders1027 7 дней назад

So in fact Britain is the fourth biggest exporter of numbers ,no production no shipping no boarder checks just numbers on a screen. We need some sort of industrial revolution,OH we did .

@haseebur-rehman3218 4 дня назад

Actually this story was first published in City AM and relied on an UNCTAD dataset, which included all exports (including gold). It is true, the UK did become one the largest exporters in the World. However the same dataset also showed that since Brexit the level of UK imports has surged to the extent of causing a world-class Balance of Payments crisis, a point which was entirely ignored by City AM and the gutter-press. UK exports (including Gold) have increased partially owing to Sterling weakness and in spite of that weakness imports have surged, indicating a diminished productive capacity, further inflation and a looming crisis.

@Tini_Scrapitti 7 дней назад

Politicians must adapt to the reality that lies and half-truths will be exposed much quicker than in the past. If they want to be successful liars.

@ogribiker8535 7 дней назад

If only !

@mikegwilliam2847 7 дней назад

Lies, damned lies, AND TORIES!!😂😂😂

@willswyfte7216 7 дней назад

Why should anyone trust a PM who will not take action on the abuse of insider knowledge.

@dooniskea 7 дней назад

This is why journalists should use independent datasets,.not just report the nonsense that politicians say...

@julianagarciaalvarez8027 7 дней назад

Sunak is delusional 🤣🤣🤣🤣

@avillageofbigheads 7 дней назад

I live in Korea and YT provided a statement below your comment " Translate to English" . Very few know this, Sunak translates to " Knob" in English.

@johnnyj2066 7 дней назад

Vote Tory 2024. Go Rishi, go Tory🎉🎉🎉

@user-lt5no1xt1z 7 дней назад

@@johnnyj2066go Tory🎉

@joshuqlewisham8086 7 дней назад

Sunak to be appointed as a janitor 🗑

@corvus1238 7 дней назад

NO! We want someone competent as janitor!

@joshuqlewisham8086 7 дней назад

@@corvus1238 ismail osman is set to be janitor 🗑

@deano_bites 7 дней назад

The numbers don't add up we are not even in the top 10 exporter the man is a liar really bad liar

@RazorMouth 7 дней назад

Sell off gold reserves and claims it as exports 😂

@piccalillipit9211 7 дней назад

They count financial services as "exports" so stock trades in the city count as exports

@ulfosterberg9116 7 дней назад

Sending people to rawanda and giving them 30000 is also counted as export.....

@RazorMouth 7 дней назад

@@ulfosterberg9116 what 1 person? 🤣

@andrewcharlton6080 7 дней назад

@@RazorMouthThey probably count that 1 person as £300m of exports

@EspressDelivery 4 дня назад

I love the "But wait, there's more" feel to this.

@dereks1264 7 дней назад

There are three kinds of lie: Lies; Damned Lies; and Statistics.

@davidbentley4731 7 дней назад

Ah all those jobs created from exporting gold.

@daneenmurf1043 6 часов назад

Correction. The gold stays in the same vaults. The name on the door is the only thing that changes

@drcommonsense1 6 дней назад

We need more of these fact checks done on political claims. Every day, we hear so much BS

@PepsiMaxYum 7 дней назад

Excellent piece of journalism. I wish it was surprising that politicians continue to be liberal with the truth!

@pedalpusher2008 7 дней назад

Great journalism! I can't remember the last time I said that about a main stream media outlet, please keep it up!

@danyel_k 7 дней назад

‘The fourth is with us’ who ever created that slideshow is a legend

@susannehartl3067 6 дней назад

True!

@leecollison7527 3 дня назад

So, the only time we were truly the 4th biggest exporter was before the Brexit Campaign due to Cameron taking a gamble with it in the 2015 election.

@Hascienda27 7 дней назад

Export powerhouse yeh, because our major docklands aren't full of tourists or students or nothing, and our production factories and farms definitely aren't almost non existent, we export nothing but other peoples riches to conserve for themselves

@seanrm 7 дней назад

What % of the UK's tangible exported goods (not financial servcies) are actually for foreign owned companies?

@SlowhandGreg 7 дней назад

Goods exports by volume is down 7% on 2019 there was a recent FT article on it. Services should be higher than they are we've bled business to Europe

@0w784g 7 дней назад

@@SlowhandGreg FT was pro-remain, is pro-EU, and is not a regulated broadcaster. I would take their output with a pinch of salt.

@shaun906 7 дней назад

costa coffee buy the cups from A company in the EU, that they own. the cups are priced, so expensive they don't make a profit, or pay tax in the uk. so I don't believe any of the stats.

@TomNook. 6 дней назад

@@shaun906 thats good business

@kbboy101 7 дней назад

That's why we have the saying "lies, damned lies, and statistics".

@xaiano794 4 дня назад

The government's own report on GDP indexed to 2019 (last full year pre Brexit) shows we have just half the growth of the EU and have gone from second from the top, to second from the bottom.

@Exodius3 15 часов назад

Wait. After Brexit, they werent suddenly the richest planet on the earth and conquering other countries again?

@johnjanssens8998 7 дней назад

So the war in Ukraine is actually helping by keeping the gold price and demand up

@Rajesh-Koothrappali 7 дней назад

Taking credit for something he had no part in doing

@Captain_Aardvark 4 дня назад

Same with the inflation figures

@Rajesh-Koothrappali 4 дня назад

@@Captain_Aardvark everything really

@maxharbig1167 7 дней назад

The gold that passes through the UK doesn't really benefit the UK economy to any great extent, Unless it comes from all those UK gold mines that are situated next to the Yorkshire Tea plantations. BTW has the UK balance of payments suddenly become positive because of it? 😀😀😀

@stephenhampson2861 7 дней назад

Export what we have nothing left

@cptadb93 4 дня назад

Well the question is how does the UK compare if gold is excluded from everyone. It isn't a fair comparison if done otherwise.

@DavidJohnson-dc8lu 7 дней назад

Why did London have 160 police stations and no only has 36 stations? Seems like he UK is great at exporting workers abroad.

@piccalillipit9211 7 дней назад

I left in 2010 when the Tories got elected and built a €6 million a year company in Bulgaria

@John-ny7jn 7 дней назад

@@piccalillipit9211what’s the name of your company out of interest?

@joeduffy3309 7 дней назад

@@John-ny7jn The silence is deafening

@dhruvakumar7187 7 дней назад

Top notch Journalism, compared to opinion BS all over the world!

@WindsorMassive48 7 дней назад

This is the Farage affect, we are exporting so much compositable materials now for fertiliser, we are world leading.

@Micfri300 7 дней назад

Did farage sell off all our steel and coal powerplants to China and India? Nope

@d0b0b 15 часов назад

Finally, journalism! Story, investigation, factual conclusion.

@aleccap5946 7 дней назад

What happened to the 10 billion pound a year membership we raised every year ?

@gemmell761 7 дней назад

An completely unforeseen correlation between exiting a huge market which we export to and exports shrinking

@bryandavidson6386 7 дней назад

Who'd have thunk it?🐥

@gemmell761 7 дней назад

@@bryandavidson6386 Not Sky News at the time, but they seem to be catching on now

@bryandavidson6386 7 дней назад

@@gemmell761 stop being unreasonable. It's only been 8 years... takes time to realise what's going on lol

@gemmell761 7 дней назад

@@bryandavidson6386 my sincere apologies to Rupert Murdoch and everyone else and Sky News. Not Sky News: Australia though, they're absolute lunatics

@Spencerlayne 7 дней назад

Export what? We have no resources

@RazorMouth 7 дней назад

UK gold reserves 😂😂😂😂😂

@tophat593 7 дней назад

Services mainly. We have people. Architecture, banking, that sort of thing. Also, "we have no resources" is patently false.

@Spencerlayne 7 дней назад

@@tophat593 I mean even our lamb comes from new Zealand. To be 6th is still pretty good tho.

@JimmyDD1905 7 дней назад

Brilliant once again from Ed Conway.

@dextercool 7 дней назад

Farage always says "exports are up since Brexit" but exports of small businesses to EU are down, so exports would actually be even higher were it not for Brexit.

@joeduffy3309 7 дней назад

Everything he says should be taken very lightly, except when he's gloating over his paymaters in the Kremlin

@Foebane72 4 дня назад

Obviously Sunak doesn't want people knowing about the gold.

7 дней назад

Sadly we haven't managed to export Rishi Sunak, shoddy goods is obviously a difficult market.

@Captain_Aardvark 4 дня назад

Isn't he supposed to be off to live in California after the election?

@anthonyferris8912 7 дней назад

It's not just Sunak, it's the Institute of Exporters and others. It's down to the UK re-exporting LNG to the rest of the EU. Not dissimilar to Holland's re-exporting imports to the rest of the EU flatters their exports.

@applecrumble8424 5 дней назад

Good work and reporting

@whitecrowuk575 День назад

Didn’t expect sky to do actual journalism

@user-uf4rx5ih3v 7 дней назад

The question now is, where did this gold come from and where is it going. Is the UK actually trading gold, or is it selling off its reserves?

@piccalillipit9211 7 дней назад

Money laundering

@stewartkingsley 7 дней назад

Labour did that already, years ago!

@MarbleGiant 6 дней назад

And what are we exporting? Do they create jobs and wealth here, or just huge profits and bonuses in the service sector.

@alistairw.6394 6 дней назад

He's talking like gold trading has no value... It is very lucrative.

@syohank 7 дней назад

Ed Conway has been showing some really important stats and analysis that no other mainstream seem to show including newspapers.

@namenotfound8747 7 дней назад

Of fish and chips?

@parametr 7 дней назад

Brilliant. Good job. Now I wonder what purpose the gold trade has? Who/what does it benefit?

@dennismay1023 7 дней назад

Why do they not cite net exports? How much gas has been landed in the UK terminals and then pipelined to Europe?

@radman8321 7 дней назад

we we were 4th, then 2016 referendum, afterwards dropped to 5th and then to 6th. Brexit, the gift that keeps on giving.

@user-wj4yk8ly1d 6 дней назад

The PUNISHMENT of Scotts

@kktg8370 7 дней назад

Golden journalism here

@stephanosuk78 5 дней назад

Great factual piece, never thought I'd say that about MSM again.

@user-fm6ns5nb4j 6 дней назад

Did he make the same adjustments for the other economies? He made no mention of it. While other countries may not import / export as much gold as the UK (due to it's position as a financial centre) removing it from the UK figures but not the others is just skewing the figures in another direction.

@stephfoxwell4620 7 дней назад

Very shrewd of Fartrage to upset the biased media.

@rb95051 6 дней назад

Lies, big lies, then statistics…..how true it is

@nickdoughty518 7 дней назад

Did we also import and export a lot of energy after Russia invaded Ukraine? That would distort the figures too.

@neilsmith154 7 дней назад

The UK rolled over the EU trade deals and has added nothing significantly since leaving. The trade situation outside the EU would have been the same as member or not.

@XGDragon 6 дней назад

Ah, reality, a politicians' Achilles' heel.

@fritsgerms3565 День назад

Amazing how one area of finance can have such an impact. It essentially means everyone is worse off again.

@radioactiverenegade 5 дней назад

So it turns out we were already 4th biggest exporter since before brexit and as a result of it we fell from our place temporarily.

@kb4903 7 дней назад

It’s based on services though rather than any production eg cars which are way down.

@thinkingbig2280 6 дней назад

If Sunak told me what day it was id have to buy a newspaper to confirm it.

@mm-yt8sf 7 дней назад

this reminds me of a "cunning plan" i had back in college. i thought why can't two tiny countries sell a pebble back and forth to each other for 10 trillion dollars. so in one move one will make 10 trillion and the other lose 10 trillion. but...wouldn't gdp just see the ten trillion? if a country had to count debt and only use the net profit then wouldn't a lot of big countries be negative? so just from two blatant fake trades the two countries could get an invite to the g7 😀which hopefully comes with fancy meetings and free dinners [in case it wasn't obvious, my major wasn't economics 😛]

@DeepakKumar-lv4te 7 дней назад

The finance industry wants us to measure in GDP, because the only way to meaningfully increase GDP is to issue debt. And that's the core product of the finance industry. QED. Hence all our govt policies are all about increasing debt - it's what favours the finance industry. It also however causes inflation and wages can't keep up, so it achieves capitalism's aims - removing earning power from those lower down and pushing it up into asset values higher up the food chain. Privatisation is favoured because private entities work using/raising debt, even borrowing to pay shareholders, and that's not on the Govt books. So the govt can claim to have increased the size of the economy , even if it's poor value or even worse jeapordising the future (eg water companies). Capitalism was never about sharing.

@leighrobinson 7 дней назад

Interesting analysis. However they didn’t explicitly state that they corrected the ranking by removing gold exports from all countries on the list. I’d hope they wouldn’t make that sort of schoolboy error but it can happen…