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I should imagine the 12 new Trade Deals will include the US, Canada, Australia, New Zealand, India, China, Japan etc etc
Quote:
Originally Posted by The Independent
Australia has called for a free trade deal with Britain as soon as possible, in a Brexit boost for Prime Minister Theresa May.Ms May spoke to her Australian counterpart Malcolm Turnbull on Saturday, who expressed his desire to open up trading between the two Commonwealth countries as a matter of urgency.
The new PM described the call as "very encouraging" and insisted it showed leaving the European Union could work for Britain.
She tasked newly appointed International Trade Secretary Liam Fox to begin exploring options and he has told the Sunday Times that he is "scoping" around 12 other deals.Ms May said: "I have been very clear that this Government will make a success of our exit from the European Union."
I think that the idea that 'nobody' would want to do trade deals with a UK outside the EU has been proved to be either fantasy or scaremongering whichever way you look at it as a number of countries are busy lining up deals to go into effect the day the UK actually exits.
I think there are two factors here.
The first is that the UK economy remains one of the biggest in the world and that doing trade with the UK is very attractive to other countries.
The second is that signing deals with the EU is tortuous at best and very time consuming due to the need to get 27 governments on-board. This leads to non-trade 'problems' such as visa issues for Romanians which get in the way of actually signing a deal. You can go much quicker when dealing with just one country.
Answering the OP's question, at the moment no, I don't see much to be positive about.
Agreed I also see very little to be positive about. A lot of the issues I raised are slowly coming to a head. Even R and D at universities is now being hit, due falls in funding...
While I appreciated the need for structural change in the UK, I am still not convinced Brexit was the way to do it..
I think that the idea that 'nobody' would want to do trade deals with a UK outside the EU has been proved to be either fantasy or scaremongering whichever way you look at it as a number of countries are busy lining up deals to go into effect the day the UK actually exits.
I think there are two factors here.
The first is that the UK economy remains one of the biggest in the world and that doing trade with the UK is very attractive to other countries.
The second is that signing deals with the EU is tortuous at best and very time consuming due to the need to get 27 governments on-board. This leads to non-trade 'problems' such as visa issues for Romanians which get in the way of actually signing a deal. You can go much quicker when dealing with just one country.
With due respect to you Australia is an even smaller market than is the UK. Try again when Germany, Japan, China, and the USA show interest.
Agreed I also see very little to be positive about. A lot of the issues I raised are slowly coming to a head. Even R and D at universities is now being hit, due falls in funding...
While I appreciated the need for structural change in the UK, I am still not convinced Brexit was the way to do it..
As the 5th largest economy, within the context of the largest economic space, the UK was that powerful and could certainly have exerted influence of the EU. In fact the UK was seen as bringing rationality within this zone, alongside Germany, The Netherlands and the Nordics. This is why London was booming, and many Euro professionals flocked there, and why many foreign investors located their operations there.
Outside of this, less sure. And with Boris leading the negotiations the future seems dire. Germany will definitely exert is dominance by ensuring that the UK gets less from the EU than it is currently getting.
What is the UK's role in the world British people need to asking? They need to do so absent the nostalgia for the days when the sun never set on the British empire.
What is noteworthy is that its clear that Brexit didn't have a plan. What were their goals and strategies to offset the loss of unlimited access to this large economic space called the EU?
Now we see nostalgia for the old Commonwealth (not including the non white nations, India certainly having more to offer than the UK, given its size and economic dynamism). Canada and Australia are enmeshed in other economic spaces and will not give precedence to the UK. Canada is with the USA and Mexico and cannot cede to the UK that which it offers these other partners, unless they concur.
What is ironic is that I am sure that London will survive. It was thriving before it was part of the EU, and it definitely has positive attributes. What will interest me is what of Wales and northern England? What have they to offer the rest of the world? Will London offer the incentives that the EU did to locate industry aimed at the EU markets?
Lesson. Be careful what you wish for as you might get it. The markets in the USA have moved on, Brexit a forgotten thought. Yet the pound/$ exchange rate is scarcely higher than its worst rate. That should worry the British.
Jamaica does have trade deals too. Its not having a deal that matters. Its the type of deal that you can negotiate.
We will have good trade deals, unlike the EU which has no trade dealswith China, India and other major economies.
Britain has good relations with countries such as India and it is India not China that is going to grow in to a countty of 1.7 Billion by 2050 and this may be India's century and not Chinas.
I note that US Bank Wells Fargo has just bought a new £300 million office in the City of London and has staked it's future in London, as are other US Banks.
You do realise it's vitually impossible due to red tape to get any kind of EU Trade deal and it's becoming ever more difficult. Individual Trade deals outside of the EU are much easier and the WTO is also the way forward and is not as restrictive and protectionist as the EU, which won't even allow many US products including argicultural goods to be imported, as it impliments very restrictive practice. The UK is now going to be free to buy more US products both industrial and agricultural in a less restrictive and protective way, even TTIP is not a great agreement. See the EU Common Agricultural Policy, which is so corrupt it's unbelievable.
Last edited by Brave New World; 07-19-2016 at 01:10 PM..
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