Eu And Non Eu Nations Essay

With the infamous “Brexit” vote in 2016, the United Kingdom’s (UK) separation from the European Union (EU) was only the start of the union’s eventual downfall. Upon exiting the EU, the UK also chose to leave the EU’s Single Market, causing friction for UK manufacturing firms. The Single Market Strategy removed internal borders and other regulatory obstacles between EU states in regards to trade. The function of the Single Market was to “stimulate competition and trade, improve efficiency, raise quality, and cut prices.” However, with “Brexit”, the UK lost rights to sell to into the European markets without discrimination. Huge tariffs were placed on EU imports that caused financial distress to

In the past few months, the Brexit referendum attracted the attention from the whole world. The globalisation has made the world today far more connected than ever so that every country could be affected by this big event. The globalisation has had profound and lasting influences to UK economy. This essay will firstly focus on the pros and cons of globalisation, then discuss the UK sectors which benefited and suffered from globalisation respectively, finally analysis the overall effect of globalisation on the UK economy.

So after the result of the referendum had been out, the first affect is the pound had fallen sharply, according to (Taub,A. 2016.) the pound is at its lowest valuation in seven years. Due to the (Hunt,A. & Wheeler,B. 2016) uncertainty rushing around, a British exit will likely result in a massive rebalancing of currencies. Investors will (and have already begun to) dive out of the British pound and into cash that's perceived as safe — the Swiss franc, the Japanese yen, the U.S. dollar. The changing direction of the investor and the fallen of the pound has spiked the value of Yen which has made Japan’s export being less competitive. Even the fallen of the pound can help the export business and attract more tourism to the country ,which due to the (bbc no name) The travel analytics firm ForwardKeys says flight bookings to the UK rose 7.1% after the vote. The import business still have to pay more for the fuel and material due to the costs which have increased 7.6%. Moreover, since 51% of goods and 45% of services of the British’s export are taken over by the EU. Losing access to the EU single market would mean less trade and less productivity growth which could (Chu,B.2016.)make

The UK as a member of the EU’s single market— a project to remove the barriers of trade within the EU and combine the European

Although the British voted for leaving European Union, Brexit would adversely affect the British economy in the fields of trading and foreign direct investment.

     After the tragedies of World War II, European leaders have made striving efforts to prevent such a catastrophic event from occurring on their continent again. The best solution seemed to be highly mechanized cooperation among the highest European powers to assure that future conflict, and perhaps war, could not arise between them. If all the states ran themselves in a manner cooperating with their neighbors, conflict could be avoided. To prevent other nations from not cooperating, treaties and institutions would have to be designed for each area of international interest such as trade, communications, security, and so forth. As the century progressed, more organizations, institutions and associations were

Exports have been affected by global events. Most importantly, “Brexit” added to fears that the European Union is unstable and other countries may follow the UK and leave the union. The EU is a major trade partner of the US and China, which could disrupt global trade. Brexit has caused major volatility in global markets as well. This could trigger consumers to stop spending and save more. Brexit also hiked up the US dollar 6.3% against the British pound. This continues the trend from last year of low exports and revenues in the manufacturing sector further impeding profits and limiting their willingness to invest.

Another way to assess the market for a business is through PEST analysis. Where PEST stands for political, economic, social and technological factors which can influence a business strategy (Grant, 2014). Political uncertainty fuelled by Brexit (the decision of the UK to leave the EU) will affect the immigration status of some employees, with Argo’s risk losing some of its employees. A possible adjustment of trade regulations, federal minimum wage or requirement for permits and licenses will impact Argos operations. For example, if companies must pay considerably to sponsor work-permit for their non-UK employees or must carry-out periodic sustainability assessments (Business.hsbc.uk, 2017). The company will spend a lot of time and money to comply with regulations, ultimately proving ineffective and will affect business aims and objective. However, such regulations could prove useful in shifting manufacturing to the UK and hence a supply chain that is robust and sustainable, leading to a more flexible cost base. In an economic sense, the sharp drop in the value of the GB pound against the US dollars resulting from the knock-on effect of Brexit will lead increase in supply chain costs since UK retail is to a large extent dependent on imports, most of which are purchased in US dollars, ultimately leading to an inflexible operational cost

Brexit is not a just a political debacle, but also a great financial issue. The author points out that it is considered to be a bigger concern than Scotland’s independence. Bankers and other financial sectors feel that Brexit can cause a huge deal of loss, because Britain is said to be the gateway for the rest of the 28 nation European Union, a market which holds about 500 million more than what is prevalent in the United States and Japan combined. Anderson feels that for most big businesses like Goldman Sachs or Citigroup, London is the financial capital, which provides a gateway for nearly all of Europe. Without the unregulated access, the free flow of capital, resources, talent and goods and services would have to be renegotiated, making it difficult for the European nations. The financial industry is said to be the most affected since it accounts for about 7 percent of Britain’s gross

As a result of Europe experiencing terrible performances in the economy, this tolled heavily on Britain thus removing any hopes carried of making a recovery led by exports and investments. This was experienced as European leaders did not follow best suited polices, in particular failure to terminate credit crunch and loosening the monetary conditions quicker. Also the option they chose of pushing austerity to economies that have ample fiscal space was a contributing factor to this (Sandbu, 2015). The possibility of leaving debate was sparked by the prime Minister of Britain, David Cameron, who narrated of an in/out vote during the referendum on the current EU membership of Britain. He proposed that if the Conservatives remained in power on 7th of May, then this would be achieved by end of 2017 (R., 2014, April 29). In the elections to be held in Britain, decision will be made on the direction of trade policy with Britain’s greatest partner in trade (EU). The vote is split along two sides of those supporting the move and those opposing it with the Conservatives preferring to move out of EU while the Liberal Democrats and Labor are inclined on staying thus oppose the move. There are several hot topics that divide these two groups and they are discussed in detail in the paper.

Officially known as The United Kingdom of Great Britain and Northern Ireland, the UK (or simply Britain) is home to over sixty-five million diverse people. The UK has been a member of the European Union for 43 years and has seen its economy do quite well during this time. During the summer of 2016, UK citizens made a decision to leave the EU. This decision shook the entire global economy, raised many uncertainties and now leaves a number of unanswered questions surrounding the global economic landscape.

There are several ways the United Kingdom (UK) could exit the European Union (EU). Differences between a Soft and a Hard Brexit are considerable and each prospect deserves thorough investigation in order to understand how it will affect British businesses. The evolution of the EU allowed years of institutional and political transformation through the creation of the European Single Market which benefited British businesses (Medrano, 2003). However, the UK has always been reluctant to European obligations and stood out rapidly from the rest of the members by keeping their own currency. Following the Article 50, outlining the right to quit the EU, the UK citizens decided to leave in June 2016. This result caused important concerns and uncertainty especially for British businesses. In 2017 negotiations between the UK and the EU will start, however the way it will happen is still very ambiguous. British firms will be able to lobby for their favourable outcome, as they are in a position of power and could possibly influence the government in their negotiations. As firms have a strong impact on decision-makers, it is important to clarify for which outcome they should opt to protect in the best way their stakeholders during and after the transition of UK.

Brexit, Britain’s exit from Europe. On Thursday the 23rd of June 2016, Britain voted in favour of leaving the European Union and standing alone for the first time since 1973. Many predictions and economic forecasts were made pre referendum, but to what extent were these scaremongering tactics or how accurate were they? I intend to examine the economic impact of Brexit, so far, on the UK economy and whether it is ethically correct for politicians to predict the future without sufficient evidence to their claims.

The European Union should continue to expand. The expansion, however, should stop once Turkey becomes a member of the EU. Including countries such as Ukraine, Russia, or Israel, among other southeastern European states would have numerous negative effects on the EU. If the EU includes Turkey, then it will have established itself as not being an exclusive Christian club. If the EU then goes on to include Russia and Ukraine, or any of the others, then this would overstretch the EU, thus making it a simple customs union, or possibly even cause its disintegration (Champion, Marc. 2004).

One of the main objectives of the European Union (EU) is the establishment of the internal market, which shall consist of “area without internal frontiers in which the free movement of goods, persons, services and capital is ensured. The internal market is based upon a customs union achieved through the abolition of the imposition of customs duties and charges having an equivalent effect and the prohibition of discriminatory taxes on intra-EU imports. The internal market is enhanced by the provisions on free movement of workers, freedom of establishment, free movement of services, and free movement of capital. Whereas Articles 28 to 30 of the Treaty on the Functioning of the European Union (TFEU) provide for the establishment of an EU common external tariff and the elimination of customs duties, Articles 34 and 35 of the TFEU (with exceptions under Article 36) go further, and prohibit quantitative restrictions and measures having equivalent effect. Taken together, Articles 28 to 32 and 34 to 36 serve to ensure the free movement of goods within the EU and to facilitate the operation of the internal market.