On 24 June, Britain announced to the world that it intended to leave the European Union (EU). By leaving the EU, Britain could also leave the European Single Market and all the current trade agreements that have been negotiated between the EU and non-member states would have to be revised. With the appointment of Theresa May as the new British Prime Minister in July, the UK is now preparing to initiate preferential trade talks with established and emerging markets. Britain is particularly keen to increase import/export flows with China – a nation which has become a vital source and destination for international container trade since the early 1990s.
The industrialisation of Asia over the past 30 years has made the region a popular trade destination for established markets seeking to import inexpensive goods on mass to support domestic consumer demand. This is complemented by Asia’s growing industry and consumer appetite for high-end goods typically produced in innovative European nations such as Britain. This edition of China. Action. Money reveals why Britain’s decision to leave the EU could have a positive impact on international trade, and in particular, why it offers Britain the opportunity to strengthen its trade relationship with the Dragon Economy.
Download this edition of China.Action.Money, here.