Posted on 10/03/2016 4:52:55 AM PDT by expat_panama
Recent events have pushed the issue of international trade to the top of the economic agenda – not just here in the UK, but elsewhere in the world.
The Brexit vote in the EU referendum has called into question the trading relationship with our European trading partners and the UK’s trade relationship with the rest of the world....
...Trump has been highly critical of the existing trade agreements between the United States and other countries. He blames these “bad trade deals”...
...the World Trade Organisation (WTO), which oversees the international trading system, is warning of the slowest growth of exports and imports...
...On January 1, 1995, the WTO came into being – a single body setting rules for trade worldwide, supporting the reduction of tariffs and other trade barriers. These three major agreements underpin current trade relationships and the world economy we live in today.
Economists believe that increased trade between countries is a “win-win”. Consumers benefit...
...if “everyone’s a winner” from world trade – as Del Boy would put it – why are we now seeing a backlash against it? The first reason is the global financial crisis...
...second reason is that globalisation and the growth of world trade creates winners and losers...
...not a good time to be seeking a fundamental renegotiation of trade relationships with our EU trade partners and the rest of the world.
Quite rightly, the new UK Department for International Trade wants to strike free trade deals with the rest of the world. But we are now in a world where the protectionist tide is rising. That will be bad for global growth. And it is also likely to be a serious headwind to the UK Government’s plans for Brexit.
(Excerpt) Read more at telegraph.co.uk ...
Good
The status quo can not survive. It needs a good shakeup if only to protect us from a WWIII type reset.
Andrew Sentence would enjoy a lot more credibility if he would be honest about the terrible downsides resulting from the Elitists among us pocketing trillions by moving whole industries around the globe in pursuit of cheap labor.
In a fair debate, the Elitists/Globalists lose!
Trade is good. Trade used as an excuse to put unelected global institutions in power over the US is not.
Trade between two partners who have similar policies re tariffs, quotas, investment ownership and the like benefits everyone. Trade between one party who allows pretty much free imports and another who is merchantilist results in a huge trade deficit for the first.
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