Originally Posted by
bernardd
I don't have the numbers to hand but I believe the importance of the Financial Services sectors to the UK economy exceeds its importance to the US by quite a chunk. Also one of the things that we've seen in the US in the last year is some resurgence of the manufacturing sector, but sadly the UK doesn't seem to have one of those any more - part of the reason I left! If you add in the dwindling oil & natural gas supplies, life looks like it's going to be tough for a while.
You are right, I think it is about double. However, I was comparing the UK with New York City. Basically the entire UK is about as exposed to the financial crises as New York City. The average man in the street in the UK should be just as scared as the average man in the street in Manhattan.
BTW The Wallstreet Journal is now calling this the worst financial crisis since the 1930s.