Captain Crash I have to say that you seem to be contradicting yourself massively. You argue that the obsession with buying from global markets at the cheapest rate is wrong as it causes job losses etc in domestic markets. However this view (most utility per $ regardless of externalities) matches with the ‘capitalistic’ method of selling something for much more than it’s worth. i.e. does it not seem absolutely ridiculous for a load of British companies to import components, pay British wages to assemble and forward to distributors who make a mark up rather than being produced ‘at source’ in the far east? You’re being hoodwinked, you’re getting the same product for double the price. I would say that any person here could assemble a torch from parts so why is it a good example of British industry declining? not exactly rocket science is it, it just requires huge scale and cheap labour/mechanisation. The people that research and design the components are often western e.g. Cree, Philips etc. and these are the people that make the money, not the people that play lego putting the parts together. As for the trading deficit what would you do? Legeslate that everyone must become an inventive engineer and we should buy British? (even though that means buy Chinese have someone put it together for you for a 200% mark-up)