Economic implications of alternative trade relationships: post-Brexit options for the UK
End of embargo2021-01-19
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KeywordsUK; Brexit; Trade relationships; Future growth potential; European Union; EU
Permissions© 2017. Reproduced with permission of Palgrave Macmillan.This extract is taken from the author's original manuscript and has not been edited. The definitive, published, version of record is available here: https://www.palgrave.com/gb/book/9783319666693
This chapter discuss several key issues for the UK in relation to Brexit. Firstly, how new directions could be initiated to fund infrastructure aimed at boosting the UK's future growth potential and/or promote reindustrialisation by nurturing strategic industries through the early and unknowable stages of their development until they achieve their own international competitive advantage. Secondly, we contest the belief that globalisation has created a new environment eroding the efficiency of traditional policy instruments and with it the relevance of individual nation states. Finally, in this context we conclude by arguing that Brexit offers a unique opportunity to negotiate of a new trade relationship with the EU, together with the rest of the world to both replace previous trade deals concluded by the EU, but also to establish a new set of relationships with a wider set of potential trade partners.