Can Brexit Be an Economic Success and What Effects Can Be Expected for the EU27?
In this chapter, the immediate economic impacts of Brexit are considered along with prospects for a UK–US transatlantic trade deal. The economic fall-out of the June 23rd referendum is explored, with the challenges for the UK, EU27, US, and even Asia (in particular China) discussed. Politico-economic aspects are highlighted, showing that a strictly economic interpretation of the effects is inadequate: one must also consider the security and military issues, strained international relations, and political challenges which lay ahead. While EU will be faced with the threat of disintegration, a new “balance of power” may emerge on the world stage—with China on one side and Trump’s US on the other. This will affect the EU–UK negotiations which stand center stage.
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