TE20160206 by MrDi

Author:MrDi [MrDi]
Language: eng
Format: epub
Tags: News, The Economist
Publisher: The Economist
Published: 2016-02-04T18:16:50.310505+00:00

Sterling fell by 15% against the euro and 24% against the dollar during the 2008 financial crisis, and this did help exports in the short term. But since 2012 Britain has been struggling, even in the sectors it usually does well in. Thus the government’s hopes of recapturing some of Britain’s past trading glories and doubling exports in goods and services to £1 trillion ($1.5 trillion) by 2020 will remain exactly that. These trends also have ramifications for the argument raging over whether Britain should leave the European Union.

On the positive side, at least one rebalancing has been relatively successful. Britain’s trade with the rest of the world has been ahead of its trade with the EU since 2008 (see chart). To Eurosceptics, this is evidence that Britain could flourish outside Europe. But although Britain’s exporters have been getting a foothold in the emerging markets, they have not been as successful as they might have been. With the exception of China, which takes about 5% of Britain’s exports, trade in goods and services remains pedestrian.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.