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In general, a basic strategy is to make a trade deal which encompasses as large a population as possible (population = customers). Another consideration is aggregate GDP/wealth.
So the European Union has been of particular interest as a trade partner, in terms of both population and wealth. On the other hand, the economic component of the EU is a customs union, which complicates things.
Large populations has been a criteria for Brexit Britain's strategy. Therefore: China, India, USA as top choices for Britain.
Martin Hutchinson's criteria were based on what Britain needs to import: energy, raw materials, food. By these criteria, he thinks that the Pacific Alliance will complement Britain's economy. He didn't mention Angola, but theoretically that individual country would fit his criteria exceptionally well.
Based on Hutchinson's criteria, Ghana (which lined for a trade deal with Brexit Britain) and Cuba (which hosted a British trade mission) could be useful trade partners.
Based on Hutchinson's criteria, the European Union is not a very good match for Britain.
George Friedman commented that the British built an empire so they wouldn't have to depend on Europe.
Last edited by Tim Randal Walker; 11-07-2016 at 12:57 AM..
The attributes of what might be called a conventional, or traditional currency:
1. Medium of exchange
2. Unit of account
3. Store of value
I bring this up because of a web site I came across, which indicated some interest in Britain in cryptocurrencies, such as Bitcoin.
As I understand it, Bitcoin's main use is as a medium of exchange across the Internet, for retail. So far, 2 and 3 not really, not yet. Nevertheless, I can imagine international trade-retail-across the Internet, using Bitcoin or something similar.
However, at this point I regard cryptocurrencies as experimental. I would expect governments to maintain their traditional currencies in the meantime. (And I think the British government was wise to decline the Euro).
Last edited by Tim Randal Walker; 11-17-2016 at 03:02 PM..
Two who have written about geopolitics-George Friedman and Peter Zeehan-Have commented on Brexit
Both said that there will be a trade deal between UK and USA within a few years. Friedman thinks that there will be a bilateral trade deal, while Zeihan thinks that the UK will join NAFTA.
Zeehan has predicted that Britain will explore two different alternatives, the Commonwealth and NAFTA.
Hi Tim,
As Britain leaves the EU, it won't do for the country to stand idly by, hoping for massive inflows of investment (although that could happen as the British sterling continues to fall) the English countryside becomes an attractive investment for retired American folks, especially when compared to Ireland where property prices are higher and the countryside just as lovely.
Britain's government can't depend on that however, to boost the economy. Therefore, I think it's appropriate for Britain to join NAFTA (and hopefully, Australia and New Zealand would join at the same time) and over and above joining NAFTA, I hope the British government puts on a full effort to increase trade with all Commonwealth nations. India alone will have 2.2 billion citizens by 2025.
Finally, with the U.S. pivot to Asia, it leaves a smaller American presence in the Atlantic, and again, I think it's appropriate that a historic naval power such as Britain should assume that role.
A Free Trade Zone for the entire Atlantic and the Caribbean led by a post-Brexit Britain, working with the U.S., Canada, Brazil, Argentina, South Africa, and other Atlantic powers as they joined such an alliance, would create billions of pounds sterling of wealth for all participating nations.
One type of visa that would be desired would be a special work visa.
Another type that would be desired would be a special visa for retired people.
I can imagine reciprocal arrangements being negotiated between governments.
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demining
