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And conversely the UK previously benefitted from the enormous negotiating power of the EU block, an economy that every nation in the world would like to trade w
by zzalpha 10y ago
And conversely the UK previously benefitted from the enormous negotiating power of the EU block, an economy that every nation in the world would like to trade with (for perspective, in 2015 the UK contributed 17% of EU total GDP). In fact Canada and the EU just completed negotiations on CETA to exactly that effect, a deal the UK could have taken advantage of if it was in the EU.
I contend that the economic costs of going it alone are far more profound.
Though I find it classically British that they would see themselves as so important that they feel they can negotiate better trade terms than the entirety of the EU. I guess they just can't shake off the feeling that they should be a superpower, if only someone would notice! ;) ;) ;)
- AstralStorm 10y agoI like the final sentence. In order to be a superpower, you wouldn't need anyone to take notice. It would be apparent and obvious.
- cbeach 10y agoThe agility of the UK to negotiate trade deals is far higher than that of the EU, where any one of the 28 nations is able to veto the deal. TTIP, a case in point. And as Trump has made clear, post-Brexit, the UK is now at the front of the queue. We're the World's fifth largest economy. We originated the language and many of the standards that the World uses to trade. We're not pretending to be a superpower, but we do have a reasonable chance at striking up free trade deals with all the Commonwealth countries. Especially as the Commonwealth was our own creation.