We know that the phenomenal economic growth of China represents a huge opportunity for British firms. So it may be a surprise to learn that the UK’s track record of exports to China is very weak, relative to our European counterparts. Germany is the star and exports five times more than the UK to China. We also sit well behind France and Italy in terms of growing exports to China since 2000. Seventy five per cent of UK exports go to EU countries and other advanced markets (the United States, Japan and Australia) and less than ten per cent of UK exports go to the ten largest emerging economies. We do well in India, but are significantly behind in Brazil, Russia and China. So Britain is still too dependent on advanced economy markets, which are growing slowly, if at all. Too few UK firms are selling into high-growth emerging economies, particularly China.