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Your comments assume 'FTA' is the key ingredient in the equation - it is not. The UK is growing financial services exports in almost all of the markets you men
by sonnyblarney 8y ago
Your comments assume 'FTA' is the key ingredient in the equation - it is not.
The UK is growing financial services exports in almost all of the markets you mentioned, so I don't really see what your point is there. [1]
Third - the UK is not 'leaving' European markets, they are changing the terms of trade. Goods and services will continue to flow.
(Thankfully, 'services' don't face the fundamental challenges that 'goods' do at the border outside of a customs union)
The UK already exports as much financial services to the US as it does to the entire EU [2] and the underlying impetus is fundamentally in the rest of the world.
Similar to your comment about Japan - the UK already exports quite a lot in financial services (3 billion pounds/year and growing).
" Also, trust me, the Chinese have not forgotten the Opium war" No, I don't trust you.
[1] https://colresearch.typepad.com/colresearch/2017/03/trends-and-growth-in-uk-financial-services-trade-.html https://colresearch.typepad.com/colresearch/2017/03/trends-a...
[2] https://colresearch.typepad.com/colresearch/2016/08/how-important-is-uk-financial-services-trade-to-the-eu.html https://colresearch.typepad.com/colresearch/2016/08/how-impo...
- jayalpha 8y ago"The UK is growing financial services exports in almost all of the markets you mentioned, so I don't really see what your point is there." For serious financial services you need even more than a FTA. Something like passporting rights for the EU, that the UK will lose. And regarding to "financial services" China is very very closed. By chance I read today that China and Germany want to increase trade in "financial services". This really surprised me since China is playing so hard ball against opening this market. "(Thankfully, 'services' don't face the fundamental challenges that 'goods' do at the border outside of a customs union)" Yes. Right. Something like passporting rights, clearance allowance etc, you can just do this without a permit or reliance on another country. Good luck with the Brexit.