Samples UK Brexit and Beyond

Brexit and Beyond

1082 words 4 page(s)

Efforts have been made to integrate different nations over the last century. Through globalization, the world has become a global village. Although the different political events that have recently occurred, including Brexit vote and the outcome of the 2016 US election, have made many to argue that globalization will retreat in the coming decade, de-globalization is highly unlikely, as most countries beyond the West have continued to forge stronger links and integrate with the rest of the world.

In its 2014 survey, the World Trade Organization revealed more than half of the developing nations’ exports were taken to emerging world, showing a significant increase from the 1995’s exports that stood at 38% (Della Posta & Rehman, 2017). The most populous countries in the world, India, and China had their trade margins increase from $1.7 billion in 1997 to $72 billion in 2014. The same situation happened in the UK. In the year 2017, for example, over 40% of its exports in services and goods took place with other EU and other countries, with a total value of more than $700 million (Pareschi, 2018). Indeed, UK’ trade laws are complex, and during the campaigns, Brexit supporters emphasized that a successful departure from the EU will provide the country with the opportunity to make Britain a free and the most dynamic country in the world.

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Besides, it was meant to make the UK be in a position to engage in trade agreements and other deals with fast-growing countries. However, Betts, during a TED Talk Show, indicates that Brexit came as a surprise (Betts, 2018). Most of those who wanted to leave were the aged; people who were born before the age of internet. The young overwhelmingly voted to remain in the European Union. This exposed a divide between different social segments of the society. However, Betts note that globalization has both negative and positive effects, the positive effects of it were more important for the UK than the demerits (Betts, 2018). The consensus amongst economists is that globalization promotes free trade, movement of capital, and movement of people, which were very essential to the UK.

To add to this, investors see business organizations from the emerging economies as extremely important to them. In 2015, for example, the American Enterprise Institute found that Chinese firms put a total global investment of $111 billion, an amount ten times what they invested in a decade ago (Pareschi, 2018). Similarly, this trend was observed in India in which there was an increase of nearly 43% in five years. Russia also plans to have stronger links with China, where the two jointly planned $50 billion projects. As well, China has recently developed an elaborate scheme of expanding to Africa and wooing its nations with cheap loans. While the West might view the move as disastrous, trade enthusiasts define it as globalization, and as a way to expand to newer markets. Either perspective, the move indicates the increased nature of nations to engage in trade.

As pointed out by Schuman (2016), most countries view their future beyond their national borders. Globalization has significantly assisted in the creation of an open business environment and the elimination of poverty in India. For instance, the military regime in Myanmar embraced democratic reforms and as a result, alternative sources of growth have poured into the country. Supporters of globalization, including Schuman (2016), have argued that Trump’s administration policy to erect walls to safeguard America’s lives and racist is unwise and racist. Nevertheless, the global economy is increasing in terms of competitiveness. Therefore, politicians have to be intelligent and have the interests of their countries before other nations. In case that appears selfish, then so be it.

In 2017, more than 300,000 people immigrated to Britain to seek employment. Likewise, to the situation in the US, the UK has seen many of its manufacturing bases transfer its operations to cheaper locations abroad. An estimated 9 million persons aged between 16 and 64 had the necessary work qualifications; however, they never found opportunities (Pareschi, 2018). That number is even higher in the US, with a record 94 million US citizens out of the job market (30% of the US population against 14 in the UK). This is the economic situation where political events, such as “Make America Great Again” campaign, Brexit vote, Germany’s backlash over the Chancellor’s liberal immigration laws, and Marine Le Pen’s French nationalist party “Frexit” taking place across the West.

Citizens of a number of nations often want the best for their respective countries, communities, and families. Trump view to smashing the status quo has been criticized for threatening the US. Numerous ambassadors and other people of same political circles view Trump administration as wrong, selfish, and racist to further the interests of America (Inglehart & Norris, 2016). The President has not fully supported free trade and has recommended that certain current deals with countries like China should be renegotiated. Moreover, he has been harsh on numerous allies in his Trans-Pacific Partnership spurning. This partnership is a secretive trade agreement between 12 nations whose objective is to reduce barriers including tariffs.

The agreement also enacts other regulations to enhance economic growth by supporting job creation and retention. Further, it enacts laws that aim to create stronger economic ties between these countries. Vietnam and Singapore, which hugely depend on trade, are particularly rattled by a Trump presidency prospect. Nonetheless, it is important to highlight that whereas Trump’s views about the current US trading partners, namely Japan, China, and the UK, have shocked many; his key message seems to be founded on the belief that the system is inefficient and rigged and only aims to address these issues at hand.

Overall, globalization has existed over the years, and it is not likely to experience a decline in the near future. While people have cited the Brexit vote and the outcome of the 2016 US elections to retreat globalization, they are only meant to fix the rigged systems and improve trade efficiency between them and other nations. Globalization is growing with new ties created every day across the world.

    References
  • Della Posta, P., & Rehman, S. S. (2017). Brexit: Origins and Future Perspectives. In After Brexit (pp. 11-34). Palgrave Macmillan, Cham.
  • Inglehart, R., & Norris, P. (2016). Trump, Brexit, and the rise of populism: Economic have-nots and cultural backlash.
  • Pareschi, A. (2018). At a Crossroads or Business as Usual? British Foreign Policy and the International Order in the Wake of Brexit-Trump. Interdisciplinary Political Studies, 4(1), 115-151.
  • Sayer, D. (2017). White riot—Brexit, Trump, and post‐factual politics. Journal of Historical Sociology, 30(1), 92-106.
  • Schuman, M. (2016). Brexit Won’t Stop Globalization. Bloomberg Business Week. Retrieved from https://www.bloomberg.com/news/articles/2016-07-14/brexit-won-t-stop-globalization