Having just returned from the US, I was struck by this 'risk aversion' and the innate US 'competition'.
To give an example: there was a Subway on one of the streets in the US. A few doors down there was an independent sandwich shop that was offering similar, larger sandwiches, with more toppings, for less, with a huge advertisement saying so. In the UK, close to where I live, there's a Subway on the High St., and an independent cafe down the street. The cafe continues to serve two-slices of bread with an average amount of filling for slightly less than Subway, and has no interest in competing, despite Subway getting double, or more, the foot traffic.
That's the UK all over.
> Anyway, Europe has a bright future as a cheap third world backoffice for US companies at this rate.
A lost decade+more due to austerity after 2008's financial crisis, plus huge amounts of furlough money, and a falling exchange rate doesn't make good reading.
To give an example: there was a Subway on one of the streets in the US. A few doors down there was an independent sandwich shop that was offering similar, larger sandwiches, with more toppings, for less, with a huge advertisement saying so. In the UK, close to where I live, there's a Subway on the High St., and an independent cafe down the street. The cafe continues to serve two-slices of bread with an average amount of filling for slightly less than Subway, and has no interest in competing, despite Subway getting double, or more, the foot traffic.
That's the UK all over.
> Anyway, Europe has a bright future as a cheap third world backoffice for US companies at this rate.
Already happening: https://archive.is/4Rer5
A lost decade+more due to austerity after 2008's financial crisis, plus huge amounts of furlough money, and a falling exchange rate doesn't make good reading.