BT's 21CN Network / The end of Marconi

21CN is a key infrastructure that will fuel the UK economy and provide a flexible way for consumers to use new services. The selection of the preferred suppliers is an incredibly important building block towards that vision. 21CN will also radically reduce BT's cost base, with identified savings of around one billion pounds a year.

Why are we seeing so many British icons fading? It's sad. In the meantime, foreign companies like Cisco and Alcatel are rubbing their hands with glee as this will be their biggest project yet. Isn't it a shame there isn't a tiny bit more economic nationalism? I'm not talking about the ridiculous form it takes in some countries but compared to other European countries, the UK gets rid of companies like a pair of old socks.

Our economy is growing more than Swedens (and every other developed european country), so I guess we're doing alright.

I'm not saying what I prefer but I think you'll find it difficult to find other countries with so little economic nationalism. The French have been reproached for their economic nationalism (they're going to put in place special rules for IPOs/takeovers when French companies have been making the most IPOs in the EU).
In Germany, Vodafone bought D2 which was the number-one mobile phone operator. After a couple of years, D2 was overtaken by a not so well run, not so global (at the time), T-Mobile, simply because it was German.

Just pointing out that a historic company would never have ended up like that in another country. It's all nice to say we shouldn't have "misplaced economic nationalism" which is all nice and true but we're the only ones with that attitude.

So because others hold a view that is screwing their economies, Britain should follow suit?

Yes you have a point. I'm only pointing out that few countries are the same.
In the case of the US, it's difficult for foreign companies to do IPOs, yet most people there are convinced this is good for the US economy.

And yet when someone buys a major American firm (Chrysler comes to mind), as long as it's not the Chinese, no one blinks. What IPOs has to do with national champions is beyond me.

Um the latest figures from a week ago:

GDP growth Q2 2004 - Q2 2005
Britain: 1.5%
France: 1.3%
Germany: 0.6%
Sweden: 2.3%
Spain: 3.4%
Austria: 2.1%

Forecasts for 2005 and 2006:
Britain: 1.9% and 2.1%
Sweden: 2.3% and 2.7%

I think you're thinking of figures from years ago. The economic dream based on speculation on house prices and consumer spending is over.

So are you saying that we would be richer if our houses were all temples to British brandnames?

Which are? A 0% growth rate and 10% unemployment rate?

IAs for the British economy, as you can see, things aren't too peachy. With manufacturing in recession? Plus comparing us to Sweden is a bad idea. Britain likes to present itself as an alternative to the continental social model but the Scandinavians have had similar growth, increased productivity (while ours is plummeting), and have one of the most solid social models in Europe.If there's one model to follow it's the Scandinavian one, despite its flaws.

Maybe? I don't know... Many countries with smaller economices than Britain's, manage to defend big national companies with a decent growth rate. I'd say that every country in the world is more economically nationalist and Britain hardly has the most dynamic economy. Far from it...

But we haven't lost big companies, we've lost big labels. Big symbols. Les look at the physical assets and gains:

- A superior phone network will be built in Britain.
- Ericsson already employs people in this country, and will probably employ more with the extra encouragement.
- Ericsson is probably better when it comes to business if it was richer than Marconi, and capable of buying it, so Marconis assets will probably be better run by them.
- People in this country probably own huge chunks of Ericsson anyway.. they're sure to benefit (and therefore the country).

I've heard we're actually the world's #1 producer of mobile phones; just as we're one of the biggest car manufacturers, despite the brands bieng called un-British things like "Toyota".

The only people I hear complaining about the post-industrial economy are Lowry-lovers, Victorian-nostalgics, the BNP and RESPECT. Not economic credentials in themselves.

It's not necessarily extreme, as you say, to wish for the success of British companies. Most countries do so. This is an expression of British attitude to nationalism and the economy. As many people feel uncomfortable expressing British values, they don't feel they should defend British companies. Whether this is positive or negative is the debate.

Britain does have one of the most dynamic economies in the world, and I fail to see why you care about national champions when it's clear that they are of absolutely no benefit to an economy.

It's not necessarily extreme, as you say, to wish for the success of British companies. Most countries do so. This is an expression of British attitude to nationalism and the economy. As many people feel uncomfortable expressing British values, they don't feel they should defend British companies. Whether this is positive or negative is the debate.

there are plenty of other big british companies out there...