Key word - end of century. (Better growth trends for the UK long term, hasher impact short term.)
(Also predictions, but yeah )
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But more than that, this is the problem with "camp" like thinking. Lets presume, those predictions are correct. What are the reasons for them?
If you end up at 'dwindling populations' and high economic status that is only surpassed by nations that are currently at a growth path out of second or third world status (except britan - in the theoretical argument) - here comes the kicker - will it get better if you leave the EU?
As a political argument to convince people to do anything this is about the worst possible argument you can make - but taken certain developments as a given...
UK held a special position in regards to that because of former industrial and financial networks, their "expertise" in sectors that can easily be scaled up regardless of regionality (think financial services) - and in the end, economic growth doesnt reflect income growth in recent years - because of automation as a factor...
(So at this point, simply think - what if 'the hardships of brexit' can be used to further lower wages, while investing in automation, thus producing higher GDP growth that people will never see... Again - you voted more market liberal, right. )
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All that said - from a certain perspective, it made sense, that the UK left the EU at this point, took the economic hit, and got on a better growth curve long term.
Just the people voting for that did so because of lies, will on average not reap the benefits in their lifetimes - and its not sure if the economic paradigm can hold - past, well you decide, but everyone on the left is seemingly searching for something new. (From a position of obscurity at this point. )
Point being - the paths along which you'll grow are by first reducing quality of work, social security structures and income - while trying to get rid of structural dependance of imports. (Or not. ) So thats not a fun time.
-
In the end - those graphs basically show:
"What - we be able to have 'free trade' with the EU and a sector of 'lower wage' jobs to have 'free trade' with the south east - unrestricted and not having to account for what that means for italy, or spain, or..." Well yes - its a better growth potential - naturally.
Again - this is not a hard brexit scenario - where you'd be first kicked back to the stone ages, .. You simply gained the freedom to outcompete other EU states, 'gaining back control over the economy' without loosing the european free market, right?
(Then - longterm, europe will get less important, because of popultion trends alone.)
The thing is - with every other country in the world, especially the smaller ones, trade deals usually get 'dictated' by the bigger economy.
So - if your target markets to grow on are Malaysia and Singapore, your trade deals still may be favorable - if you are f.e. Poland, or Italy, and not the UK - they are not. Economically you were such a huge part of the EU, that no other countries can follow your example basically. (And you are an island. (Meaning, what do you care, about people on the continent.))
Also - there is a difference between becoming the sixth largest economy (thats below India afair), and trying to compete with the US or China. (There are limits.. )
(Also predictions, but yeah )
-
But more than that, this is the problem with "camp" like thinking. Lets presume, those predictions are correct. What are the reasons for them?
If you end up at 'dwindling populations' and high economic status that is only surpassed by nations that are currently at a growth path out of second or third world status (except britan - in the theoretical argument) - here comes the kicker - will it get better if you leave the EU?
As a political argument to convince people to do anything this is about the worst possible argument you can make - but taken certain developments as a given...
UK held a special position in regards to that because of former industrial and financial networks, their "expertise" in sectors that can easily be scaled up regardless of regionality (think financial services) - and in the end, economic growth doesnt reflect income growth in recent years - because of automation as a factor...
(So at this point, simply think - what if 'the hardships of brexit' can be used to further lower wages, while investing in automation, thus producing higher GDP growth that people will never see... Again - you voted more market liberal, right. )
-
All that said - from a certain perspective, it made sense, that the UK left the EU at this point, took the economic hit, and got on a better growth curve long term.
Just the people voting for that did so because of lies, will on average not reap the benefits in their lifetimes - and its not sure if the economic paradigm can hold - past, well you decide, but everyone on the left is seemingly searching for something new. (From a position of obscurity at this point. )
Point being - the paths along which you'll grow are by first reducing quality of work, social security structures and income - while trying to get rid of structural dependance of imports. (Or not. ) So thats not a fun time.
-
In the end - those graphs basically show:
"What - we be able to have 'free trade' with the EU and a sector of 'lower wage' jobs to have 'free trade' with the south east - unrestricted and not having to account for what that means for italy, or spain, or..." Well yes - its a better growth potential - naturally.
Again - this is not a hard brexit scenario - where you'd be first kicked back to the stone ages, .. You simply gained the freedom to outcompete other EU states, 'gaining back control over the economy' without loosing the european free market, right?
(Then - longterm, europe will get less important, because of popultion trends alone.)
The thing is - with every other country in the world, especially the smaller ones, trade deals usually get 'dictated' by the bigger economy.
So - if your target markets to grow on are Malaysia and Singapore, your trade deals still may be favorable - if you are f.e. Poland, or Italy, and not the UK - they are not. Economically you were such a huge part of the EU, that no other countries can follow your example basically. (And you are an island. (Meaning, what do you care, about people on the continent.))
Also - there is a difference between becoming the sixth largest economy (thats below India afair), and trying to compete with the US or China. (There are limits.. )
Last edited by notimp,