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That’s why they set up the British Virgin Islands private equity fund Because it is indistinguishable UK territories (or whatever you want to call them) don't

That’s why they set up the British Virgin Islands private equity fund Because it is indistinguishable UK territories (or whatever you want to call them) don't have the geopolitical baggage that larger economic unions do, so they are good intermediaries with laws that are more relevant for business in the 21st century

sfifs 6y ago
I wonder how nations will react to such abuse going forward now that UK is no longer in EU. It should be pretty straightforward now for countries to outright ban any investment or cash flow from UK based entities. Nobody's now going to protect UK from such actions like EU membership could have. Of course the counter is these UK territories will be too useful for the corrupt politicians for them to want to ban.... Much like Switzerland.
- ipaddr 6y ago
  I don't understand why thr UK leaving the EU would matter. The UK's position in the world of global banking before and after the EU hasn't changed. Banning all UK entities would kill the global economy.
  - PontifexMinimus 6y ago
    > I don't understand why the UK leaving the EU would matter. If a country pisses off the EU, for example by applying sanctions to one of its member states, the EU can reply "fine, we won't trade with you". This is a credible threat because the EU has a large share of the world economy. The UK could also threaten to not trade with a country, but this is a much smaller threat as the UK is a much smaller part of the world economy. In geopolitics, size matters: https://pontifex.substack.com/p/why-scotland-should-leave-the-uk https://pontifex.substack.com/p/why-scotland-should-leave-th...
    - ipaddr 6y ago
      China has a bigger market than the EU. Does China have more power? I would say China has less influence. Marketsize matters but it is only one of many factors. Remember the British Commonwealth is quite large with Canada, Australia, India, South Africa, etc. These create special relationships that don't exist with the EU. Banning all UK entities, means cutting off all of the Hong Kong relationships, many commonwealth relationships, anglo countries. As important as the EU relationship is. The Anglo alliance of countries holds the true power and it has been this way since WWII.
  - atat7024 6y ago
    > Banning all UK entities would kill the global economy. I wonder which of these "too big to fail" statements will end up being the one that actually kills the global economy.
  - anoncake 6y ago
    Banks moved a lot of operations from London to Frankfurt due to Brexit.

sfifs 6y ago

I wonder how nations will react to such abuse going forward now that UK is no longer in EU. It should be pretty straightforward now for countries to outright ban any investment or cash flow from UK based entities. Nobody's now going to protect UK from such actions like EU membership could have. Of course the counter is these UK territories will be too useful for the corrupt politicians for them to want to ban.... Much like Switzerland.

ipaddr 6y ago
I don't understand why thr UK leaving the EU would matter. The UK's position in the world of global banking before and after the EU hasn't changed. Banning all UK entities would kill the global economy.
- PontifexMinimus 6y ago
  > I don't understand why the UK leaving the EU would matter. If a country pisses off the EU, for example by applying sanctions to one of its member states, the EU can reply "fine, we won't trade with you". This is a credible threat because the EU has a large share of the world economy. The UK could also threaten to not trade with a country, but this is a much smaller threat as the UK is a much smaller part of the world economy. In geopolitics, size matters: https://pontifex.substack.com/p/why-scotland-should-leave-the-uk https://pontifex.substack.com/p/why-scotland-should-leave-th...
  - ipaddr 6y ago
    China has a bigger market than the EU. Does China have more power? I would say China has less influence. Marketsize matters but it is only one of many factors. Remember the British Commonwealth is quite large with Canada, Australia, India, South Africa, etc. These create special relationships that don't exist with the EU. Banning all UK entities, means cutting off all of the Hong Kong relationships, many commonwealth relationships, anglo countries. As important as the EU relationship is. The Anglo alliance of countries holds the true power and it has been this way since WWII.
- atat7024 6y ago
  > Banning all UK entities would kill the global economy. I wonder which of these "too big to fail" statements will end up being the one that actually kills the global economy.
- anoncake 6y ago
  Banks moved a lot of operations from London to Frankfurt due to Brexit.