'Us anti-Brexit folks should feel pretty self-satisfied now. Well, we’re not.' via PostOpinions
By Robert J. Samuelson Robert J. Samuelson Columnist focusing on economics Bio Columnist March 17 at 7:58 PM Those of us who have always thought that Brexit, Britain’s withdrawal from the European Union, was a bad idea should be feeling self-satisfied and vindicated now. Well, we’re not; at least, this observer isn’t. The reason is obvious. Many of the things that we feared would happen have happened, or might still. Worse, the consequences aren’t confined to the United Kingdom.
A new study from the Peterson Institute for International Economics reviewed the forecasts of 12 economic models and found that only two of them predicted gains from Brexit. Other studies forecast losses of up to 8 percent of gross domestic product . The study also warns that “a no-deal ‘crash out,’ ” a reversion to higher tariffs rather than a “soft Brexit” of continuing the present no-tariff situation, “would have serious negative short-run impacts on the U.K.
Meanwhile, the chaos, confusion and contradictions of Parliament’s efforts to find a tenable Brexit policy must seriously undermine confidence in Britain’s political system and its ability to attract future investors, domestic and foreign. It’s not that they have changed their minds about the value of open trade so much as the public has turned more skeptical and hostile to trade expansion. A less supportive public in turn alters the political climate, making governments more nationalistic and leading to more, not fewer, trade barriers. Multinational firms become more cautious in making new investments, because they can’t know how much open trade will be tolerated.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Give us Brexit options or parliament will take over Brexit - Labour MPOpposition leader Jeremy Corbyn speaks to UK parliament after lawmakers reject no-deal Brexit
Lire la suite »
Brexit supporters reject UK attorney general's additional legal opinion: The TelegraphBrexit-supporting lawmakers have rejected an additional legal opinion by Britain...
Lire la suite »
Brexit supporters reject UK attorney general's additional legal opinion - The TelegraphBrexit-supporting MPs have rejected an additional legal opinion by Britain'...
Lire la suite »
Opinion | Why don’t U.S. nuclear regulators acknowledge the dangers of climate change?Climate change is causing new weather threats. Our nuclear reactors should have to prepare accordingly.
Lire la suite »
Opinion | A derelict commander in chief: Trump can’t keep us safeTrump does not know who the most deadly enemies are
Lire la suite »
Opinion | If Brexiteers were smart, they would support Theresa May’s flawed Brexit planOpinion: If Brexiteers were smart, they would support Theresa May’s flawed Brexit plan
Lire la suite »
Opinion | The Dalai Lama and Arthur Brooks: All of us can break the cycle of hatredThe best way for each of us to improve society is to model behavior that offers a way forward.
Lire la suite »
Opinion | Ilhan Omar Can’t Break the U.S.-Israel BondOpinion: The new wave of left-leaning anti-Israel activists is unlikely to succeed in breaking up the U.S.-Israel alliance, writes wrmead
Lire la suite »
Opinion | U.S. immigration authorities are failing this award-winning Mexican journalistAfter 10 years of struggling, Emilio Gutiérrez Soto still faces the specter of deportation.
Lire la suite »