Wales' economy lacks linkages and requires development policies/spending.
It's treated as a component of a developed economy.
Consequence 1: low capital expenditure leads to lower productivity & limits potential for new growth.
Conclusion 1. Wales is locked in a suboptimal economic/constitutional arrangement in which the currency is too strong relative to its economic performance
Conclusion 3: Scale comparison and electoral calculus makes the Welsh economy a low priority for the UK government.
It's late 🙄