The Pros And Cons Of Brexit

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The news article the Economist reveals that Brexit[1] triggers a round of reshoring[2].The article described the situation of an entrepreneur Nimisha Raja started a healthy fruit snack business right when Britain voted to leave the EU. Her business model assumed that she could have boundless access to relatively lower price fruit in Europe and only used apple from Britain. Yet this is not possible due to a depreciation in the pound after the result of Brexit was released, which increased her cost and thereby has to shift her focus from bringing her offshore ingredient market back to Britain. She used to buy 20% of ingredients from Britain and it has risen to 70%. The article mentioned that this is also happening to various industries, like car-making and household manufacturing industries. Yet reshoring also works both ways as it mentioned almost half of the European businesses are expecting to reduce their British supplies due to higher cost from Brexit. This article shows that reshoring has both gains and losses in Britain, but requires a deeper understanding of class materials to analyze how Brexit brings benefits and costs to the country and how it affects the relationship between Britain and the mainland Europe. Before going into the benefits and costs of Brexit, the article did not go far enough to mention why Britain wants to divorce itself from the European Union (EU), but it is essential to understand this by drawing reasons from in class material. After WW2, most
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