3 ms·
The gravitational pull of the largest market nearby probably has too high an escape velocity for a struggling economy like UK's to overcome.
by rosywoozlechan 4y ago
The gravitational pull of the largest market nearby probably has too high an escape velocity for a struggling economy like UK's to overcome.
- tuatoru 4y agoI don't know if this was a reference to the Gravity Model of trade[1], but I think you will be right in the long run. I expect the long run to be at least three decades, though. Maybe seven. I'll be dead. 1. https://en.wikipedia.org/wiki/Gravity_model_of_trade https://en.wikipedia.org/wiki/Gravity_model_of_trade Quote: The model has been an empirical success in that it accurately predicts trade flows between countries for many goods and services, but for a long time some scholars believed that there was no theoretical justification for the gravity equation. Lol, it works in practice but not in theory, so many economists choose to believe theory.
- throwoutway 4y agoI saw some EU leaders saying they would refuse the turnaround application, so I think you’re right that UK politicians will need to wait For the “right” time. Probably decades of back room negotiating to move forward