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16/12/19
08:51
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Originally posted by moorookamick:
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Perhaps you and others should do some research before posting personal/ shoot from the hip opinions. The UK within the EU : -Massive inflows of capital ( second only to the USA) -City of London financail markets ( second only to the US (Wall St & Nasdac) -Automotive (foreign owned) -Aerospace The reason the the UK is looking for an Brexit deal with the EU is to minimise the economic damage to its businesses and trade; particuluarly those above. The inflows of investment cash, IMO, is twofold: to access EU markets & as an EU conduit to tax havens which are mostly ex-British colonies. The London Stock Exchange will be gutted post Brexit because, again , it was used by external investors as an anglophone gateway to European markets. Some major banks and broking houses are already shifting to mainland Europe with others to follow post Brexit IMO. Automotive: Nissan & Honda :has already signalled moving operations out of the UK. Others owned by the Indians & Chinese & Germans will likely follow, IMO. Aerospace: Although Rolls Royce ( Jet Engines) & Airbus ( Aircraft wings) have not publicly indicated relocating to Europe, they will likely do so because of Airbus being EU centred. Add to this minor UK businesses that rely on external markets (EG Dyson already moved HQ outside the UK) and the UK will likely go through a protracted recession reminicent of the Thatcher years, IMO. ( Australia will likely get hoards of Boris refugees, IMO) Scotland remembers the devasting economic effect of Thatcherism in the 1980's and that is why it will want to leave the UK and remain in the EU. Take the Republic of Ireland for example, It has prospered in the EU since 1973 and even tduring he GFC when the Celtic Tiger collapsed, the EU/ECB &the IMF ( all European) were there with a rescueing bailout financal package. At present the Republic of Ireland has recovered from the GFC and reduced its soverign debt from 120% of GDP to almost half that (the EU norm) So Scotland will likely be looking at the ROI as their model outside the UK and within the EU, IMO. I lnow that there is a current Right Wing Populism sweeping western democracies that regards the EU as a Socialist Block and that anything that suggests a unity glitch is lauded by Populists who look to 19c Merchantilism & Adam Smith as the panacea in the form of Neo-Liberalism It is quite ironic that the USA is against Globalisation yet it wants to be the Global Military Power, The Global Manager of Capital Markets & maintaining the Greenback as the Global Reserve Currency and maintaining the lions share of multinational companies While Trump follows Friedman's theory of Freedom, US Patriotism , low Taxes and Small Government . the amazing thing is that the US Working Class supports him when the real beneficiaries are the uber rich To date Trump has reduced corporate tax from 33% to 20% and imposed taxes ( tariffs) on working class Americans who have relied on cheap imports ( like us) to make ends meet. Happy Xmas MM
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While the UK 16% of EU GDP, that will be minimised by Scotland's & Northern Ireland exit from Britian. In the interim, developing Chinese trade with the EU will quickly compensate for that, IMO.https://ec.europa.eu/eurostat/web/products-eurostat-news/-/DDN-20170410-1 China has already bought a shipping port in NE Greece as part of its Belt & Road project and intends to connect the ex Soviet countries of Eastern Europe via a new high speed rail project China has already bought a disused airport NE of Athens to build housing for Chinese workers & Chinese tourists to complement this ptoject. Earlier this year XI has visited Greece, Italy & Germany stitching up deals which preclude the USA. Thirty years ago the economic centre of global GDP was in the Athlantic and now it is in the Middle East and rapidly heading eastwards. While Boris may have won the election, he may be loosing the economic war, IMO for the sake of English Nationalism.