The UK’s decision to leave the European Union (EU) has left its longer-term world trading status unclear. What is becoming apparently clear, however, is that it will be necessary for the UK to sign individual free trade agreements both with the EU and global powers, which bodes well for increasing container traffic. The EU is currently the UK’s biggest trading partner. Depending on the deal negotiated between UK Prime Minister Theresa May and the EU, Britain’s current access to the free market may be retained or it may have to sign individual trading agreements with nations across the continent. The latter is most likely, if the UK follows the ‘hard Brexit’ route favoured by Foreign Secretary Boris Johnson. Outside of Europe, Britain has been seeking out new trade opportunities in Asia’s rising markets. As the second largest economy in the world, the economic transformation of China into the world’s leading industrial hub presents a range of new trade and investment opportunities. The UK is particularly interested in increasing the flow of Chinese investment into its northern regions to support future infrastructure development.
This edition of China.Action.Money discusses the UK’s current international trading strategy, and the future commercial relationship between the UK and China.
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