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Brexit and the Future of Trade
Author(s) -
Dhingra Swati
Publication year - 2019
Publication title -
the political quarterly
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.373
H-Index - 37
eISSN - 1467-923X
pISSN - 0032-3179
DOI - 10.1111/1467-923x.12645
Subject(s) - brexit , international trade , european union , world economy , foreign direct investment , globalization , economics , investment (military) , politics , customs union , single market , international economics , economic policy , economy , political science , market economy , macroeconomics , law
International trade and investment are the biggest areas of economic policy that the UK will need to decide on as it prepares to exit the European Union. This chapter explains key developments that determine the economic challenges for UK's future trade policy. These include the rise of new forms of globalisation, the recent slowdown in wage and productivity growth and the current escalation of trade wars. It examines the best possible ways of addressing these challenges through the UK's future trade policy with the EU and the world economy, and its domestic policies for inclusive growth. The UK’s best strategy would be to prioritise an ambitious trade deal with the EU and to pioneer a new generation of trade deals that re-balance the rights of different stakeholders.