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First test of chancellor's 'securonomics' policy does not bode well

Not all that long ago the prevailing wisdom in economic circles was that where things were made hardly mattered.

What really mattered, instead, was how much something cost. But in recent years that has changed - and changed in a big way.

Now countries around the world are racing to secure the minerals and materials they need to build the technologies of the future. Where something is made matters, in other words.

That, at least, was the gist of Rachel Reeves' policy of "securonomics.

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