David Cameron to tell Davos forum West can win back jobs

European countries, particularly the UK, can win back industrial jobs from cheaper Far Eastern competitors, British Prime Minister David Cameron will tell leaders in Davos today.

Last year, one in 10 small- and medium-sized British businesses brought back some production from Asia, a trend dubbed as “reshoring” – double the number who transferred production the other way.

“From food processing to fashion, from cars to computer-makers. It’s not just one sector; it’s across all sectors of the economy,” Mr Cameron will say, adding that European leaders can make “a success of globalisation”.

“For years the West has been written off. People say that we are facing some sort of inevitable decline. They say we can’t make anything anymore,” Mr Cameron will say.

However, fashion brand, Jaeger, which stopped making clothes in Britain, has brought a tenth of its production back. Much-loved toy trainmaker, Hornby is doing the same, while computer firm, Raspberry Pi is making its products in Wales.

“Whether it’s the shift from manufacturing to services or the transfer from manual jobs to machines, the end point is the same dystopian vision – the East wins while the West loses; and the workers lose while the machines win.

“I don’t believe it has to be this way.”