Oxford Professor Ngaire Woods on a Brexit UK's position in Trade deal negotiations
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- Опубліковано 20 чер 2016
- Ngaire Woods, Oxford University, Opinion; Big consequences of Brexit :
Some countries can go it alone. The USA has such a big market (and firepower) that it can practically dictate the terms of its trade agreements with other countries. North Korea doesn't need them since it's closed to most of the world. But Britain is (and has been for centuries) an open trading economy. It attracts jobs and investors drawn to this English-speaking doorway to the EU and all its trading partners.
If Britain leaves the EU, it will suffer three consequences. First, it will lose foreign investment and jobs because new trade deals take an average of 28 months to negotiate - and that's too much uncertainty, for too long, for most investors. Second, the U.K. will become a rule-taker in trade negotiations. Like Switzerland in its recent deal with China, Britain will have to accept what larger partners have to offer. Third, the U.K. will lose its special access to the 60+ countries with whom the EU has agreements. In a slowing and intensely competitive global economy, these are serious handicaps to creating the jobs Britain needs.
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Ngaire Woods on the UK's trade deals outside of the EU :
If everyone in the world believed in the free market as a matter of religious faith Britain might have a chance. But that's not how trade negotiations work... and that's why Britain as part of a European market of 500 million has passed some very successful trade deals with more than sixty other countries.
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Professor Ngaire Woods is dean of the Blavatnik School of Government, and Professor of Global Economic Governance at the University of Oxford.
She isn't going to support Brexit is she? She is obviously intelligent, well-informed, and sober.
I love to read the comments here. Welcome to reality. HAHA 😂😂😂
She doesnt BELIEVE enough.
Mnuchins are doing right, from one side.
More "financial regulations", more "reserves", more "prudentials" -- are just cutting the loans, they are not guaranteein' that new borrowers will pay back the loans.
You gotta know the borrower, but, in retail banking especially, risks are very high that there'll occur new Freddie Mac & Fannie Mae.
The issue is not in "strict banking regulations".
The issue is in -- customer, the borrower. After getting the money he should be financially being disciplined. He should be concentrated and loving his job, at least. Right psychological attitude.
It is not the size of the market. It is the desire and willingness to pay for what that market offers. Amateurs.
Indeed - the UK is the 5th largest economy in the world! Her name sounds foreign and I suspect she is not on our side. It's a pity that she has a job here because in my opinion she can get lost - she's is worse than useless.
"Her name sounds foreign and I suspect she is not on our side." Thanks for that well informed, nuanced response.
"she wasn't born here and it's likely she doesn't feel any affiliation to any particular country - especially ours."
Why ours, especially? If she has no affiliation, that would mean her opinion is less biased and thus likely more objective. She holds a PhD in Global Economic Governance, so she is an expert and this is her precise field of expertise. You may not like her opinion, but it carries a lot of weight.
A phd in global economic governance.Is just a useless degree for shills and wannabees. There will be no global economic governance. Because the people are going to stop that fascist nonsense. That is why she supports the EU. Because they are one of the benefactors of the so called NWO. It is a scam for the stupid. You need the intellectual capacity of a gnat to believe in global economic governance. It is a phd in nonsense. But i bet she is well paid to talk bollocks to the gullible.Nathan Hulse
bo ptah I'm sure you'd have said the same of Adam Smith, if you'd been alive at the time.
We've been told repeatedly that the UK is the fifth largest trading economy in the world. e.g.
The economy of the United Kingdom is the fifth-largest national economy in the world measured by nominal gross domestic product (GDP) and ninth-largest in the world measured by purchasing power parity (PPP), comprising 4% of world GDP. It is the second-largest in the European Union by both metrics.[23] The UK has been the fastest growing economy in the Group of Seven (G7) for four consecutive years, with 2.1% year-on-year growth in the first quarter (Q1) of 2016.
How does this equate with the statements made by the apologist in this video?
Just read her stuff online and gasp, utter loon
Forget trade deals unilateral free trade please. Also Iceland have a free trade deal with china.
Unilateral free trade, the Minford suggestion. Great, kiss goodbye to domestic industry and agriculture, as we're priced out of even our own market by foreign competition, leading to massive job losses and a hugely diminished tax take. The sole Leave-favouring economist might as well be working for the Chinese or American governments.