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The International Magazine
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EuroWire
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DITOR
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Looking back…
looking forward
Two years ago, when I was anticipating
my first visit to wire Düsseldorf, the credit
crisis was in its infancy. Northern Rock had
just been nationalised. It was to be July
beforeFannieMaeandFreddieMacneeded
rescue, and after these two financial giants
threatened to topple it seemed banks
across the globe were poised to fall like
ninepins. Before long industry in general,
and manufacturing industry in particular,
was shaky from the aftershocks.
In April 2008 I was struck by the optimism
of many of the exhibitors I met. There was
certainly a view that, though recession
was a possibility, it was as likely that
industry would talk itself into recession as
be pushed.
Of course, we know how the situation
spiralled, and many businesses were
forced to look at streamlining, shrinking
and shedding to survive. Some haven’t
survived, and it would be intriguing
to know if those who sounded so very
optimistic in 2008 were simply in denial.
I hope not: I prefer to believe that an
optimistic outlook and positive thinking
will win through.
Either way, the reality is that the UK, at
least, has just been declared officially
out of recession. Within the cycle of wire
Düsseldorf we’re coming out on the other
side, and while the actual shape of the
recovery has yet to show itself (the debate
continues as to whether it’s V, W, U or
L-shaped) there’s evidence that faith in the
future is alive and well.
What leads me to believe that? This issue’s
wire Düsseldorf feature. It was with
some trepidation that I awaited editorial
submissions confined to new products
and technology for 2010. I needn’t have
worried. The R & D departments of
manufacturers from all sectors have been
busy and there will be a healthy crop of
new machines and ingenuity to see at the
show.
Although the UK’s
quarter growth of
0.1% doesn’t tempt
me into believing
it’s the beginning of
theendof recession,
it’s a move in the
right direction. For
now we just have to
stay positive, and
productive.
Gill Watson