Last year, Chancellor George Osborne set out his vision to create a ‘Northern Powerhouse’ as a means of addressing the north-south economic divide. Figures from the Business Register and Employment Survey (BRES) give a detailed insight into differences in employee growth between the north and south.
The prominence of China in the global economy has changed markedly over the last 20 years. China’s GDP (Gross Domestic Product) has been growing by around 10% a year between 1993 and 2013, compared with the global average of 2.8%. The GDP of China has increased from $0.44 trillion to $9.24 trillion in 2013.