Global race? Lack of air routes means we’re already on the slow boat to China

Trade missions are almost comically pointless nowadays, as George Osborne’s visit demonstrated this week in Beijing. He is right that there are serious problems in our trade relations with China — an emerging economic superpower that buys more from Switzerland than it does from Britain. In fact, we export depressingly little to any major emerging market. It’s a matter of real concern — but flying off to China won’t fix it. There’s no evidence that trade missions make a blind bit of difference.

When Richard Nixon made his historic visit to China in 1972, it did represent an economic breakthrough. It was far harder, back then, for companies to break into well-protected markets — especially if trade was curtailed for political reasons. But in today’s globalised world, businessmen are quite capable of buying their own ticket to Qatar or Shanghai. Those who accompanied the Chancellor this week will have certainly enjoyed the trip: it allows them to pose as ambassadors and represents a great chance to lobby the government.