Asian Angle | Opinion: Dreams of Chinese riches show Brexit Britain’s living in a bubble
China is a small player in the British economy – as are Indonesia, Singapore, Malaysia. If London is to change that, it must do something it has never done before – embrace a far more open attitude to the region
The politicians who support Brexit wax lyrical about restoring Britain as a global economy and creating a new set of trading relations away from its dominant partner, the EU. They are however, placing hope above experience. At present, 90 per cent of British trade is with Europe and the United States. The degradation of Britain’s preferential treatment and access to the European market that is expected in two-years’ time will therefore require the country to up its game elsewhere.
So for optimists, a British drive to seek new opportunities outside of its traditional economic zone makes long-term sense, whatever the short-term pain.
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Realists, however, say such a strategy is high risk. How many companies or organisations would willingly walk away from the partner with whom they have the best and longest relationship, based only on the distant hope of a new relationship elsewhere?
