UK Trade with the EU – The Reality

I’m struggling to find interesting things to write about at the moment and so this is a rant.

I look at the US Presidential soap opera elections and simply cannot comprehend how an entrepreneur, who wants to run his country and the world as a business and a publicly denounced warmonger are the prime candidates for the most powerful job in the world.

The whole situation is exacerbated by a media that is incapable of reporting the truth, or topics that will generate a useful debate that also might help the electorate to feel included . . . if indeed they want to be.

On this side of the pond things are not much better, as Labour tries to re-establish its fundamentals as a socialist party and is being torn apart by its neoliberal past masters who care little about its future, or the damage they are causing.

Then we have our own media dancing around the important stories of the day, with loaded paranoia at every opportunity about the damage Brexit has done to our future. And these negative efforts are further boosted by government and commerce bringing out all of their dirty washing, in the shape of austerity and job losses, which they gratefully blame on our leaving the EU.

The fact that we haven’t actually left yet is not a point of consideration, nor that world trade is falling off a cliff, not because of Brexit but because of debt and greed. Corporate sales are continuing to fall, as are profits, which mean falling tax revenues for governments.

So, having bailed out the banks, government is now bailing out business with cheap loans, which are not being used to invest in business but to buy back shares and buy out the competition, all of which is a short term stab at keeping up share prices. This has been going on for a long time before Brexit and can only end in tears as corporate bankruptcies accelerate through the sheer implausibility of what they are now doing.

Staying in the EU would not have changed by one iota the financial collapse that is now taking place and which only a 180-degree turn in business and government integrity can halt. By breaking free of the political and financial disaster, which is the present Brussels driven EU, we can forge a new future for Britain by becoming masters of our own destiny.

By changing our focus on our trading position to one of global, rather than European trade, there is no limit to what we cannot achieve with the right leadership. And before anyone says this is rubbish, they might not be aware that this has already been the trend over the last 17 years!

Our trading with the EU has been going down as our trading with the rest of the world has been increasing, which this Office of National Statistics chart shows quite clearly:

Exports of goods from the UK to EU and non-EU countries as a percentage of all UK exported goods

Trade Graph

“In 2015 UK goods exports to non-EU countries were valued at £151 billion, compared with exports to the EU, which was £134 billion.

The drop in demand coincides with a dip in the economic fortunes in the euro area in 2012 and highlights weaker demand growth in the EU markets and much stronger demand growth in the non-EU markets.” Source:  UK Balance of Payments: The Pink Book 2016

Our trading rewards for being a member of the EU have been reducing, whilst we remain one of the highest subscribing members of this inefficient club. I am sure this chart has nothing to do with business to business activity but the interference of Brussels, with its endless flood of regulations and red tape.

If, as this chart indicates, we can trade healthily with the rest of the world, then we certainly don’t need to take any stick from Brussels now. Indeed, other European countries still want to trade with us because we are a profitable trading entity and that is all that counts.

I can see the present trend of seeking new trade agreements becoming the norm, as our European friends increasingly seek to trade with us without the interference of Brussels. It will be the making of a new trading base for European countries, who see the original purpose of the EU as commerce and not the political/currency union that has now been foisted upon them and is crippling them.

All of this is something our media do not want to talk about or create public debate on. It would drive a coach and horses through the neoliberal agenda of US foreign policy and global financial consolidation that is now being attempted.

Statistics like these from ONS are the reality of what is going on in the world today and the sooner we become more aware of them the sooner we can justifiably demand change and give ourselves a sense of value and purpose again. The reality is we are trendsetters, not pariahs, and I have no doubt that time will show this to be the case.

Until the next time

 

Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes