business

A heightened U.S.-China financial war imperils global economy

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By PAUL WISEMAN and MARTIN CRUTSINGER

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The prospect that Britain will leave the European Union without a trade deal — a risk that seemed to rise after Boris Johnson became prime minister last month — is imperiling Europe's economic prospects.

The way this is written makes it sound as if EU's economy depends on Britain, and if Britain leaves, EU's economy will collapse. You have it backwards. Britain is the one that will suffer if they leave without a trade deal. EU is the largest economic union on the planet, they are not depended on Britain for anything. EU makes up almost 50% of UK's exports, that's almost 10% of UK's GDP. On the other hand, EU's total exports to the UK are about 15%, and that was before the massive free trade deal with Japan that was made last year. Moody, among others, already said that a no deal brexit will sink Britain into a deep recession, and yet here we are looking at yet another article talking about how dangerous it will be for the EU that Britain will leave without a no deal Brexit, without even mentioning just how much more dangerous and devastating will be for England. Japan and other major investors in England have already warned that a no deal brexit will harm Japanese investment. The only reason countries like US, Japan and China invest in UK is because it was a gateway to Europe, if they leave without a deal, and all the investment is pulled out and relocated to the mainland, i wonder whose economic prospects will be "imperiled"? Let me guess, EU's!?

Bottom line is this. There will be some negative consequences for the EU, but nothing that can even be compared to what will happen to UK. For Christ sake, EU is 7 times bigger and richer than Britain. How much more delusional can you get to think EU depends on England?

I am very curious to know who exactly made that statement. I am 99.9% sure it was AN ENGLISHMAN.

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Trump making "America Great", at global expense. America First, to heel with the rest. This sums up US foreign policy.

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In my generation it was communism against capitalism. Why do we make a government wealthy that controls their population through fear? They point missiles at us and we're giving them the money to do it. The list is endless.

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