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What do you see in Spain’s shrinking manufacturing industry?
You’ve not seen the incredible rise in exports over the last few years have you? Remember this was at a time when the Euro was supposed to be over-valued, and the Spanish uncompetitive. By contrast the UK has stagnated in exports even after devalueing the pound.
Spain’s population (not talking govt or bankers here) are rising to the challenge. The new markets in services, ecommerce and Mcommerce are going to rise fast. Guess which European country is the biggest taker up of smart phones? Ok, I still don’t see much manufacturing coming back from China and India, but who cares if they are buying Zara clothes and investing in Spanish property?