In 2005 exports were a far higher proportion of the output of developing countries than of rich countries, leaving emerging markets more at risk from a drop in American demand.
On borrowing figures, the chancellor said that debt would not begin to fall as a proportion of the country's output until 2016-17, which is a year later than the government's target.
At this stage it makes up a small proportion of the company's total output, but -- with 12 stadiums still being built or refurbished -- the World Cup could provide the perfect stage to spur significant expansion.