This 1994 book offers a comparison of British and German industries' reaction to the opportunities and threats offered by the single European market (SEM). It outlines the effect that the SEM was expected to have on the two countries and contrasts this with their actual progress based on published data and a detailed study of four industries. While the single European market has had an impact, many measures have had a far weaker effect than expected. The existence of other barriers not tackled by the SEM programme - weakened measures, poor implementation, global business trends and the recent recession - helps dominate the impact of the SEM. Nevertheless the SEM stands out as one of the striking influences on British and German industries for many years. Germany, with its geographical advantage and stronger manufacturing seems better placed to benefit, but the less regulated and often more flexible UK economy may have competitive advantages as the pressures increase.

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A comparison of British and German industries' reaction to the opportunities and threats offered by the Single European Market (SEM) is presented here. The book outlines the effect that the SEM was expected to have on the two countries and contrasts this with actual progress, based on published data and a detailed study of four industries: retailing, pharmaceuticals, insurance and machine tools. It shows that while indeed the single European market has had an impact, many measures have had a far weaker effect than expected. The existence of other barriers not tackled by the SEM programme - weakened measures, poor implementation, global business trends and the recent recession - helped to reduce the impact of the SEM. Nevertheless it stands out as one of the most striking influences on British and German industries for many years. Germany, with its geographical advantage, longer-term approach and stronger manufacturing, seems the better placed to benefit overall. But the less regulated and, in some respects, more flexible UK economy may have competitive advantages as the pressures increase. It is no accident that it has been chosen so frequently as the best site within the EC for investment by firms from non-EC countries.

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