Big Al,
       Long before Mrs. T arrived on the scene as PM the far east(Japan, Taiwan, Korea, predominantly) had set out their stall regarding meaningful manufacturing. Having got past the copying era they developed their own design, development, efficient/cost effective production and quality levels. The die was cast and the world was hooked, even the USA. Ship building, m/cycles, vehicles, electronics, machine tools, cameras - where does one stop?. China has now taken the lead albeit now facing domestic pressure with their workforce seeking higher expectations. It was like a slow tsunami and not a lot could be done to stop it, especially in a world of free enterprise. Thank heavens we still command respect in the defence and aero business and certain far east companies have seen fit to invest in our country. Germany must also be congratulated for the way its private businesses have weathered the storm with strong exports outside the EU. To lay all the blame on Mrs.T without considering the above is somewhat off target.