"Export or die". Quite a harsh sentence, but is it just scaremongering or is it really true? Well, the phrase has passed the lips of a number of leading economic forecasters. In 2010, Peter Spencer, Chief Economic Advisor to Ernst & Young's ITEM Club (Independent Treasury Economic Model), said that the UK's recovery from the recession is "reliant on a roaring trade with the tiger economies. For many firms it will be a case of export or die."