And in the 21st Century, IP-intensive industries like technology, advanced manufacturing and biopharmaceuticals will play an increasingly dominantrole in our economy.
Arguably one of the great weaknesses of the British and European economies is that capital-strapped banks play too dominant a role in the provision of vital finance to businesses (and households).
Already the dominant player in China, look for AVIC to play a far more prominent in-your-face role, as the cash-rich company makes more acquisitions, locks down more joint ventures and makes further, more publicized inroads into the global aerospace market.