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A quick question about British economy

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Novosedoff View Drop Down
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    Posted: 26 Dec 2020 at 17:47
Hi there all,

I've been through a book by Russian economist Lomakin. The book covers the economic aspects of the development of the UK in 21 century. It was published 5 years ago.

As proof I attach a page with highlighted sentence that stirred my interest. Since the book is in Russian, and I doubt there are many Russian speakers around here, I translate what it says. Basically,  it says that British companies have a higher stake in international division of labor than any other country. The sales revenues of oversea companies amount to 50% of British GDP, compared with only 30% for the US.  Now I wonder what exactly this means. Does this mean that foreign branches of British companies provide up to 50% of British GDP from their assets abroad, or perhaps foreign companies with branches in the UK contribute to British GDP up to 50% in revenues generated through sales in the UK, or both?

Thanks.  




Edited by Novosedoff - 26 Dec 2020 at 17:55
I teach history to children, and I am proud that they leave my classes permeated with sh*t and hatred to meet the real world.
I see my personal historic mission in bringing madness to juvenile masses.
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caldrail View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote caldrail Quote  Post ReplyReply Direct Link To This Post Posted: 27 Dec 2020 at 16:02
I'm hardly an expert on economics but my answer would be both. 50% seems a very high figure though. 
http://www.unrv.com/forum/blog/31-caldrails-blog/
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Novosedoff Quote  Post ReplyReply Direct Link To This Post Posted: 27 Dec 2020 at 20:29
https://www.quora.com/When-I-read-that-the-sales-revenues-of-the-oversea-companies-amount-to-50-of-British-GDP-compared-with-only-30-for-the-US-what-exactly-does-this-mean

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Foreign owned businesses like Nissan, Toyota, Honda, Vauxhall, and now Rolls Royce Car manufactures that pay UK corporation tax, pay UK income tax, pay UK VAT, pay wages to UK workers, pay employers’ National Insurance contribution, pay workers National Insurance, pay UK business rates, and generate economic activity in the UK.
I teach history to children, and I am proud that they leave my classes permeated with sh*t and hatred to meet the real world.
I see my personal historic mission in bringing madness to juvenile masses.
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caldrail View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote caldrail Quote  Post ReplyReply Direct Link To This Post Posted: 28 Dec 2020 at 06:07
So we're a multinational trading economy? The loss of Honda Manufacturing next July is going to be tough for the locals here in Swindon. Wikipedia says 3500 jobs will go. They must be joking. The company I work for will close right alongside them and so will some of the parts suppliers.

http://www.unrv.com/forum/blog/31-caldrails-blog/
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