But if you do your research, carefully analyze the results, find strengths, identify hurdles and seize upon opportunities, building clusters will aid job creation, re-purpose idle assets, and spark business opportunities that are less susceptible to off-shoring.

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The Club Med countries have an endless supply of prime assets sitting idle, virtually all of which could be rented out in short order.

FORBES: How A Chinese Economic Policy Could Save Club Med Countries

"What you could measure is the productivity of assets that are left idle for a day - the ship that doesn't get built and so on, " Prof Mayhew adds, with the caveat that the British economy is far less dependent on building things like ships than it was half a century ago.

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