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Tag Archives: International Trade

Global Economy on the Rocks?

This article was written 30th April 2019, let it not be said that no-one could have foreseen the coming difficulties. The most worrying indicator is global trade volume: This has had the expected effect on global industrial production: Notice that the downturn is affecting all economic regions this time around.  …

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The Customs Union provides no benefit to UK trade.

In May 2004, the European Union underwent its single largest expansion to date. The “A10 countries”, consisting of Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia all became part of EU and all its institutions, including the Customs Union and Single Market. The addition of …

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Brexit tariff reduction

News has broken that in the event of “No Deal”, up to 90 % of tariffs will be removed. Confirmation seems to have come from a refusal to deny from Greg Clark, Business Secretary. Naturally, views have been expressed, from all political vantage points. The opposition can be expected to …

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The Commonwealth Option

This letter originally fully appeared in the magazine National Review and an abridged version appeared in The Daily Telegraph on 6 December 2018. The Prime Minister’s proposed Brexit deal has been discussed in detail, and to describe it would replicate the excellent work of many journalists. However, we feel that it has …

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We need to talk about China

China is now the richest country in the world in terms of the Purchasing Power Parity (PPP) measure of GDP.  Its towns are modern tower blocks, its motorways are enormous and full of traffic and its factories are booming.  It has almost five times the population of the USA. On …

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No Surrender!

Another day, another cave by Theresa May. Today, it appears that Theresa May is willing to keep the entire UK bound in perpetuity to the EU Customs Union.  It also appears the Prime Minister has plans to betray her allies in the DUP and Northern Ireland by having EU regulations …

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Why Trade Deficits Must be Avoided

I have just finished reading yet another article on how Trade Deficits are harmless or even good for a country (The Trade Deficit Matters, But Not How You Think by Jeffrey Dorfman). Trade deficits happen when a country imports more than it exports, the excess imports need to be purchased …

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The Damaging Effect of EU Ownership of UK Industry

We have all read how Foreign and EU companies have been buying up UK companies (See Selling off Britain is not a sign of strength.. and Independent Article). How much does this cost the UK?  What does it cost you and me? Foreign owned UK companies accounted for 50% of all UK business turnover in …

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The Eurozone Trojan Horse

The UK has a trade deficit with the Eurozone of about 90 billion euros per annum.  The Eurozone has a trade surplus with the world in general of about 200 billion euros pa so the UK supplies almost half of the Eurozone trade surplus. When pundits praise the Eurozone for its trade surplus …

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Pound Recovers

Unlike the vast publicity given to the sharp, but relatively small, fall in the pound after the EU Referendum, the recent recovery of the pound has had little mention. The graph below charts this recovery: You can check this graph for yourself at XE.COM, a major commercial currency and foreign exchange …

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Two weeks to agree divorce bill? A reply to Barnier.

Michel Barnier has given Britain a fortnight to offer a divorce settlement if talks are to progress to trade. What should our reply be? We have some suggestions. Theresa May has made some very generous offers. EU countries will not be out of pocket during a transition period. Reciprocal rights …

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Barnier, Bonaparte & The Continental System

The EU has decided to defer the latest round of negotiations for two months. Apparently, we are to stand with our faces in the corner because we aren’t discussing the Brexit Bill. Whether this deferment will continue is a key question that needs to be answered, otherwise we face the …

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