Exo-economics is the study of external pressures on the trading economics.
Development of the study of exo-economics is interesting. It focuses on the social, financial and political pressures that can be applied to a macro economy. However, the Internal and external pressures either stimulate enterprise or undermine it.
Exo-economics – Manufacturing
The 20th century drift of manufacturing to South East Asia could be repeated by the faster developing nations in Africa and South America if only they weren’t fighting amongst themselves.
The key is a low economy, access to raw materials and 21st century infrastructure.
Fortunately for China, the USA and other manufacturing major players this current situation is going to extend for at least 50 years.
The impact on UK Manufacturing and EU companies is beginning to really bite. India is the service industry fast growth, China remains as the leader in manufacturing and we now need to look at where the science base is developing.
The global economy render many EU countries as the has beens.
Critical balance approach
The Critical Balance point in any economy has to be linked with the spending power of the individual however it can include micro investment.
Arrest the trend of the globalisation of manufacturing in three ways:
At a micro economic level. “It may cost more but by spending my money on this I can see the added value” is a fantastic sound. Especially when a consumer is committed to buying.
Add loyalty to this group of three. Consequently this creates a mutual benefit.
Loyalty earns trust! Trust causes the consumer to spend! Spending keeps the business wheels turning.
National interests are fine but local interests are more important. Invest in local skills. Developing infrastructure and technology causes the economic growth. However buying imported materials stiffles growth leaving nothing.
Debt Free economics
The economy operating across Europe and USA is debt fuelled.
Governments work on the principle of manageable debt. Therefore, consumers are encouraged to do the same.
If 80% of what I earn is paying off debt and the 20% remaining I live on then as earning falls or income ends the short term outcome is catastrophic.
Therefore, logical conclusion flip it around 80% living income and 20% variable levels of debt.
Better still, the debt free economy, spend what we have now.
Exo-economics – apply pressure from within
Therefore, look positively at the global market and take back the the local consumer.
Consequently, Change attitudes!
Adjust individual buying patterns!
Create positive economic foundations
Use clear strong language, dynamic marketing and be positive.
Conclude now that Economic Innovation requires person centred products.