Lot about BrExit and trade deals. The expansion in world trade over last decades has seen wages lose upward push, deficits widen and perversely growth slow in Western countries. Yet apparently if the UK leaves the EU growth will slow and productivity will drop…. Really.
My query here is that Global trade has allowed the salting of profits away from tax and essentially a massive growth in subsidy, in its most general sense, via Tax Avoidance, Aid Budgets and Export Credit Guarantees [ECGs] without beneficial effects in Western Countries in terms of salaries. I am sure economists can explain the paradox but whether I would accept such an explanation is the question. Is this talk of ‘Free Trade’ just more Kleptocratic bullshit to have western workers taxes fund the wealthy? Are we better for cheap goods and lower wages? Is it better than might have happened? i.e. we don’t know the opportunity cost.
What it does do is force workers to compete with countries without ‘Red Tape’ [Health and Safety], with Slavery and flat out subsidies [see Steel]. Long term is a country without the local ability to produce its needs a good idea?
Whether that supports BrExit led by the most ridiculous ‘Free Trade’ elements of the Conservative Party or TTIPery of the BrIn is one to consider.