27 October 2020
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The Poms, they're winning

The Poms, they're winning

Janine Perrett
15 August 2013

Janine Perrett

I hate to say this, but the Poms are winning.

No I don't hate to say it because of the term 'Poms', even though it is probably not politically correct. At least I didn't call them sexy – no danger of that on most of the English blokes I've met.

I mean it kindly because not only are they winning all the sporting contest – cricket, rugby, cycling, and for goodness sake even the City To Surf marathon in Sydney last weekend – but they've managed to shake off their whinging Poms monker (that's why I had to say Poms, OK?) and we've taken that one dubious honour from them. Which is another win for them actually.

You see, having hit the doldrums in their economy last year, threatening to experience an unprecedented triple dip recession, they actually bounced back and they are now the envy of the developed world.

Actually, that is an exaggeration. They are the envy of the comatose continent of Europe at least.  Even slightly better growth of an anemic one per cent was cause for joy while we are despondent at over three per cent growth.

All it took them was a few sunny days, a few bits of sporting silver – we're used to all that.

And it's not just the UK. The really important economy, the engine room of the world, no not China, is the United States and they are showing us up in the get-on-with-it stakes too. Even a legendary bear like me is beginning to believe their turnaround is real. Sure, they have the threat of another government meltdown, shutdown, debt ceiling crisis next month but generally the portents are good and you know why I'm telling you this? It's because all this might mean, just might mean, that the slowdown we all feared was upon us might end up not being as bad as some feared. The mining boom might be easing, China slowing but the US alone could offset much of that and any incoming government might actually enjoy some upswing during their term. It's buried in this week's PEFO figures, if you want to believe them and if you want to interpret the glass as half-full rather than half-empty. As a woman usually staring at an empty glass, I have to say I'm enjoying a moment of pommy non-whinging.

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