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Old 02-24-2021, 03:03 AM
 
Location: Great Britain
27,154 posts, read 13,438,724 times
Reputation: 19448

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A further major problem for the EU is theythey have a very good trading arrangement with the UK in terms of goods however back in February 2020, EU exports by value were 9% lower than in February 2019. But in March 2020, when the first lockdown was announced, EU exports were 24% lower than in March 2019. By May 2020, the value of goods exported to the EU was down 33% against May 2019.

This new rapid decline in trade, is part of a pattern of decline, which has seen the UK trading increase with countries outside of the EU, for instance the share of UK exports accounted for by the EU has generally fallen over time from 54% in 2002 to 43% in 2019.

The UK had an overall trade deficit of -£79 billion with the EU in 2019. A surplus of £18 billion on trade in services was outweighed by a deficit of -£97 billion on trade in goods.

The US is in a similar situation with an overall trade deficit of £130 Billion with the EU in terms of goods, this is offset by a £40 Billion surplus in services, making for a deficit of around -£90 billion a year. The EU used any protectionist measures it can to hamper imports of US agricultural products and many other products.

The UK has stated it wants genuine free trade with the US, and this started with the UK getting rid of the EU tariffs on Boeing, and the UK is currently negotiating further with the US.

EU protectionism has always been disgusting, and I am surprised an American would support it in relation to goods or services or that one country should be treated differently than others due to political reasons and in violation of international laws.

As for the Eurozone, the French have just posted the worst trade deficit in EU history, the Italian economy is on the brink of collapse, and there is a massive divide across Europe from North to South and East to West. Indeed Anti-EU Le Pen may be set to oust Macron in the French Presidential elections next year, and the French may get their vote on continued EU membership.

In terms of the UK, once it signs big free trade deals with CPTPP, India and the numerous other trade deals later this year, the UK may start to question it's relationship with the EU, as without a good service industry agreement that suits the UK and allows it to claw back some of the current trade deficit, there is very little reason to stay in the current Brexit deal or to maintain close relations with the EU.

Last edited by Brave New World; 02-24-2021 at 03:26 AM..
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Old 02-24-2021, 04:09 AM
 
Location: Great Britain
27,154 posts, read 13,438,724 times
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Quote:
Originally Posted by UrbanLuis View Post
What city has better rail transit?
The New York subway has suffered from a lack of investment, whilst Amtrak has has similar problems.

London has more expensive transit however it is well funded, and will improve in terms of Crossrail and other planned projects.
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Old 02-24-2021, 04:32 AM
 
Location: Great Britain
27,154 posts, read 13,438,724 times
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London is currently planing it's own Highline using a disused elevated rail track between Camden Gardens and York Way, which is a five minute walk down to King’s Cross.

The Camden Highline will also link up with other existing walking routes including the Regents Canal walk (a ( miles walk which includes Little Venice area), Regents Park (including London Zoo), Morningside Crescent, Chalk Farm, Primrose Hill and the Kings Cross and Euston area.

James Corner Field Operations, who worked on the New York Highline have been selected to lead the project.

Camden Highline

Field Operations

New York High Line designer to create raised park on disused railway in Camden - Dezeen

Last edited by Brave New World; 02-24-2021 at 05:14 AM..
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Old 02-24-2021, 10:19 AM
 
Location: Canada
7,363 posts, read 8,397,426 times
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I think the London overground train system is pretty cool. A commuter rail that runs like a metro. We should implement more rail/rapid transit like that here in North America. I have read online that the city of Toronto plans on upgrading its commuter rail line to something similar like the overground train system in London. Hopefully it goes through and it gets the ball rolling here with similar projects in other cities.
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Old 02-25-2021, 03:36 PM
 
Location: In the heights
37,127 posts, read 39,357,090 times
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Quote:
Originally Posted by Brave New World View Post
I refer you back to the previous posts and quotes by people such as Dominic Raab, Barclays Chief Executive Jes Staley and Governor of the Babk of England Andrew Castle.

The city is not reliant on EU trade and by making it's own rules and regulations can actually increase trade and investment, and to this end the UK has made it clear it will not accept having to adhere to rules from Brussels, with the future being as a rule maker and not a rule taker in this respect.

The EU also risks violating international law if it continues to deny the UK “equivalence” in financial services already granted to a string of other countries. Selective treatment of one state for political reasons breaches the non-discrimination principle of the World Trade Organisation, and is strictly forbidden.

The EU had granted equivalence status – a mutual recognition of each side’s regulatory standards – to Canada, the US, Australia, Hong Kong and Brazil based on their adherence to international regulations, however the EU is insisting that London and the UK don't just meet the sane rules based on equivalence that they follow every law and rule made by Brussels, which is something no country would agree to, and something which violates international law.

In terms of the UK's place on the world financial stage -

47% of the UK's trade is with the EU bloc. An estimated 40% of the U.K.'s financial services trade is in regards to the EU. This isn't a majority, but it also isn't nothing. Yes, the upside can be very significant as this means that the UK can play by its own rules and provided that the UK's financial services industries go on a far better trajectory than the EU's, which is possible though it's also possible that the EU does better, then this can be a great upside. However, my original point was that things aren't very clear right now on how this is going to end up.


Where is the EU violating international law by denying the UK equivalence? The EU does have latitude in governing its own affairs including deeming whether or not the UK meets its own standards for equivalence--they would have to apply it evenly to other places that are outside the EU, but where is the violation. After all, the EU does not need permission from Britain to set up what the terms for equivalence are, right? They just need to apply it evenly. As it is, it seems like the EU is still in talks with Britain and examining the agreement to verify that the UK post-Brexit will actually be in equivalence and that is their right to do so.



The EU will supposedly try to get the best terms for itself, irrespective of how it affects the UK. This could still be mutually beneficial, but it's not clear to what extent it will be. What is clear is that the UK will not have the kind of large home market advantage that NYC does have--the UK is simply a far smaller domestic economy than the US, so it does need to focus more on attracting global trade.
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Old 02-26-2021, 01:14 AM
 
Location: Great Britain
27,154 posts, read 13,438,724 times
Reputation: 19448
Quote:
Originally Posted by OyCrumbler View Post
47% of the UK's trade is with the EU bloc. An estimated 40% of the U.K.'s financial services trade is in regards to the EU. This isn't a majority, but it also isn't nothing. Yes, the upside can be very significant as this means that the UK can play by its own rules and provided that the UK's financial services industries go on a far better trajectory than the EU's, which is possible though it's also possible that the EU does better, then this can be a great upside. However, my original point was that things aren't very clear right now on how this is going to end up.


Where is the EU violating international law by denying the UK equivalence? The EU does have latitude in governing its own affairs including deeming whether or not the UK meets its own standards for equivalence--they would have to apply it evenly to other places that are outside the EU, but where is the violation. After all, the EU does not need permission from Britain to set up what the terms for equivalence are, right? They just need to apply it evenly. As it is, it seems like the EU is still in talks with Britain and examining the agreement to verify that the UK post-Brexit will actually be in equivalence and that is their right to do so.



The EU will supposedly try to get the best terms for itself, irrespective of how it affects the UK. This could still be mutually beneficial, but it's not clear to what extent it will be. What is clear is that the UK will not have the kind of large home market advantage that NYC does have--the UK is simply a far smaller domestic economy than the US, so it does need to focus more on attracting global trade.
I think we are getting off topic, however I would be happy to discuss the matter on the UK forum Brexit thread.

This thread is mainly about New York and London and not the UK and EU.

https://www.city-data.com/forum/unit...t-here-83.html

Last edited by Brave New World; 02-26-2021 at 01:49 AM..
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Old 02-26-2021, 01:51 AM
 
Location: Great Britain
27,154 posts, read 13,438,724 times
Reputation: 19448
Quote:
Originally Posted by UrbanLuis View Post
I think the London overground train system is pretty cool. A commuter rail that runs like a metro. We should implement more rail/rapid transit like that here in North America. I have read online that the city of Toronto plans on upgrading its commuter rail line to something similar like the overground train system in London. Hopefully it goes through and it gets the ball rolling here with similar projects in other cities.


The Overground is a good way to get around, and the transport system will improve even further when Crossrail becomes fully operational, which should be soon, as major stations are now being handed by contractors to Transport for London.

London Overground -Wikipedia
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Old 02-26-2021, 08:00 AM
 
Location: In the heights
37,127 posts, read 39,357,090 times
Reputation: 21212
Quote:
Originally Posted by Brave New World View Post
I think we are getting off topic, however I would be happy to discuss the matter on the UK forum Brexit thread.

This thread is mainly about New York and London and not the UK and EU.

https://www.city-data.com/forum/unit...t-here-83.html

Sure, and it was brought up that there may be changes in the future for the NYC financial services industry to which I replied that there is also plenty of potential for changes in the future for the London financial services industry.


Really though, this topic was specifically about the size of the cities and NYC is obviously the larger city in built form and in population density.
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Old 02-26-2021, 02:05 PM
 
Location: Australia
3,602 posts, read 2,305,563 times
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Quote:
Originally Posted by OyCrumbler View Post
Sure, and it was brought up that there may be changes in the future for the NYC financial services industry to which I replied that there is also plenty of potential for changes in the future for the London financial services industry.


Really though, this topic was specifically about the size of the cities and NYC is obviously the larger city in built form and in population density.
NYC is certainly more dense and overall has a lot more high rise.

Whether that is a good thing is a matter of taste. Personally I prefer London because of the lower density. Generally I prefer small cities or rural areas. I used to joke that if DD took a job in NYC we would meet up in Ottawa.
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Old 02-26-2021, 08:16 PM
 
Location: In the heights
37,127 posts, read 39,357,090 times
Reputation: 21212
Quote:
Originally Posted by MarisaMay View Post
NYC is certainly more dense and overall has a lot more high rise.

Whether that is a good thing is a matter of taste. Personally I prefer London because of the lower density. Generally I prefer small cities or rural areas. I used to joke that if DD took a job in NYC we would meet up in Ottawa.

Oh definitely a matter of taste. It's also not like NYC wins this category globally--I mean, I feel like Shanghai makes NYC feel downright quaint.


However, it's what the OP stated and he essentially misunderstood things, misspoke, or just outright lied. The truth is New York is significantly larger and denser than London.
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