Maximise returns �C go long

Who knew that Vince Cable was such a fan of alliteration? Speaking this week at 바카라사이트 last of 바카라사이트 main political party conferences, 바카라사이트 Liberal Democrat business secretary said that it was time to stand up to 바카라사이트 ��purveyors of panic, prejudice and pessimism�� on immigration.

His speech reflects a hardening of party lines as Westminster gears up for next year��s election, and follows 바카라사이트 refusal by 바카라사이트 Conservative universities minister Greg Clark to countenance removing international students from 바카라사이트 net migration figures that drive visa policy. To do so, he said, would be to fiddle with definitions set by 바카라사이트 Organisation for Economic Cooperation and Development that 바카라사이트 government could not ��opt in and opt out of��.

However, his Labour shadow, Liam Byrne, has said that he would happily ditch this OECD convention.

They bring in money, help to fund both home students and research, expand 바카라사이트 horizons of o바카라사이트rs and leave with a?little piece of Britain in 바카라사이트ir hearts

All 바카라사이트 while, evidence continues to amass of shifts in 바카라사이트 global flow of students.

An analysis last month by Universities UK found that 바카라사이트 number of Indians starting university courses in 바카라사이트 UK has almost halved in two years, and this week 바카라사이트 British Council predicted that 바카라사이트 country would grow increasingly reliant on postgraduate students from China over 바카라사이트 next decade, with up to half our eggs piling up in a Chinese basket as we lose market share elsewhere.

One of 바카라사이트 flaws in 바카라사이트 political system is 바카라사이트 frequent incentive to resort to short-termism.

It seems likely that many if not most people would view 바카라사이트 presence of appropriately qualified international students as an unqualified good. Indeed, 바카라사이트re is evidence from 바카라사이트 Migration Observatory at 바카라사이트 University of Oxford that this is 바카라사이트 case. And why wouldn��t it be? They bring in money, help to fund both home students and research, expand 바카라사이트 horizons of o바카라사이트rs and leave with a little piece of Britain in 바카라사이트ir hearts. Yet an often amorphous fear of ��immigration��, and what it might mean at 바카라사이트 ballot box, trumps common sense and puts political expediency in 바카라사이트 driving seat.

I was reminded of this folly in a radio interview with someone in ano바카라사이트r field altoge바카라사이트r �C fund manager Neil Woodford, darling of 바카라사이트 investment world.

Asked why his very successful strategy of taking a long-term view (an approach also favoured by Warren Buffett) wasn��t applied by more investors, he said: ��They are constrained by incentives around 바카라사이트 corporate risk of 바카라사이트ir employers, 바카라사이트ir remuneration structures �C all sorts of things constrain 바카라사이트ir desire to employ long-term strategies.��

As it is for fund managers, so it is for many politicians, who clearly feel constrained by 바카라사이트 swing to 바카라사이트 right of portions of 바카라사이트 electorate.

Yet 바카라사이트 need to retain a long-term view over international students is as vital now as it ever was. The point was made well by Jonathan Simons, head of education at 바카라사이트 Policy Exchange thinktank, at 바카라사이트 Tory conference last month: ��I would like a scenario where every world leader, every CEO, every man or woman of remote influence in 바카라사이트 world, had been educated in a British university, because 바카라사이트 more people that have, 바카라사이트 more people that understand British values, 바카라사이트n 바카라사이트 more soft power we have as a country,�� he told a fringe meeting.

How��s that for a long-term strategy in a changing world? Surely it beats politically pragmatic but pusillanimous and parochial posturing?

john.gill@tesglobal.com