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Sunday, April 02, 2006



The evidence that France's economy is sick? Financial markets,up. housing up. Domestic demand growth = faster than the eurozone average. Per capita income growth over past 10 years -- faster than Germany or italy. I agree that the source of France's recent growth (housing and related consumption boom) gives cause for concern, but i also find some of the (anglo-saxon) analysis on France's economy overly simplistic. Remember, in Germany structural reforms, no matter how necessary, have led growth to stall as households started to save more/ consume less, creating a drag that not even Germany's rather stellar export performance could overcome.


if anything, the economy is not doing bad in fact, but french society is being ripped apart in 3 at present, with public sector workers protected by abusive trade union, qualified workers in good job in those french companies that have managed globalisation, and the rest of the population, stuck in the middle with low paying jobs or employement and an rising living cost and grim prospects.

This The Business article is a little provocative however.

a de brux

I could give a plethora of answers to the question but would rather not delve in the matter because the Brits (including Mr Heath of Business on line.com) must not be phlegmatic and must do a bit of homework if they really would like to know.

I'd rather tackle why the Brits and, quite incidenteally, Business on line.com prefer to ask an impertinent question that they could very well answer if only they are not too busy being cheeky. I propose to do so in my blog in a way that even the most biased critique can understand the reason for the British attitude towards the French.


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