The impact of brexit on china-uk trade

下面为大家整理一篇优秀的assignment代写范文- The impact of brexit on china-uk trade，供大家参考学习，这篇论文讨论了英国脱欧对中英贸易的影响。英国成功脱欧，带来的将是中欧合作战略的困难重重。英国是中国叩开欧盟大门重要的一环。英国脱离欧盟，无异于间接打破中国和欧盟无形的合作纽带，封锁了那些期待打入欧洲市场的中国企业的战略。英国脱欧不仅造成了英镑市场的动荡，同时也打乱了人民币国际化的脚步。

Britain has long been deeply influenced by such ideas as "exceptionalism" and "imperialism". It has a profound eurosceptic tradition, and the British conservative party is a solid supporter of the eurosceptic tradition. In the 1970s, former British prime minister Margaret thatcher also mentioned such views in her speech in bruges. Some of her remarks were more obvious that Britain should focus on its special position in Europe, highlight the importance of economic freedom and international cooperation, and explicitly oppose the federalization of Europe.

Since the 1973 formally joined the European Community, along with the process of European integration, has been "outsider" status and highlight in the eu, in the field of part about sovereignty of the country's decision-making, such as monetary policy, such as the schengen system issues are selectively exit, for example insisted on keeping "pounds of its status as a global currency", etc., refused to complete substitute for the euro against the pound. Although "exceptionalism" still exists, the British government has never publicly said or discussed leaving the eu. With the outbreak and intensification of the European debt crisis, the intervention of the European Union in its economic policies has increased, and the eurosceptic tendency has become more and more serious. In addition to the troubles of immigration, refugees and other problems as well as the high annual eu fiscal budget, the contradiction between the "exceptionalism" of the UK and the eu integration has increased day by day.

Since the Greek debt crisis began in 2010, the European economy has been in the doldrums with high unemployment. Along with the fiscal deficit and the tight economic situation, the previous reform of pension and education funding has already caused a certain impact on the social stability of Britain, shaking the "cake" of retirees and future workers, and the protests and conflicts seem to be obvious.

On the other hand, with the increasing regional wars in the Middle East such as Syria, the trend of refugee crisis is inevitably intensified, and the security issues become more prominent. The frequent terrorist attacks and other violent conflicts in many countries are worrying. The trend of separatism marked by Britain's "brexit" has become increasingly serious, the European integration process has suffered serious setbacks, and the eu has encountered unprecedented threats and challenges.

Once the UK leaves the eu completely, a series of trade preferential policies that it enjoys as a member of the eu will be the first to suffer. The previous trade agreements signed with the eu may be completely invalid. At that time, the UK will have to re-negotiate relevant trade policies with the eu and strive for mutual market access policies. Following a series of tariff barriers, trade protectionism and other issues are also worthy of attention.

Britain and the European Union member states of the bilateral trade policy will also usher in sweeping reforms, since joining the eu, the UK to eu membership and the number of eu member states such as China has established the close trade relations of cooperation, and a once off the British, the trade cooperation agreement or related to policy also will lose its original effect, unless the UK to give up the cooperation relations, Britain had to back to a non eu membership and the country to launch a new trade and investment negotiations, it will be a long process, bilateral trade policy uncertainty or invest will make Britain zhu to huge losses, Elements such as capital, technology and services may also be diverted by risk aversion.

On the economic front, the UK has been the world's largest foreign exchange market, the second largest bond market, the third largest stock market, its economic strength ranks the fifth, the eu's second, and a genuine economic powers in the world today, must be faced with after take off the decline in credit ratings, brought about by a series of capital and the loss of market share is also inevitable. More than 20 banking institutions with headquarters or branches in London have expressed their interest in moving their headquarters to Frankfurt, Germany, der spiegel reported. In addition, Banks based in London will have to be qualified within the eu if they want to conduct banking in the remaining 27 eu countries after the UK leaves the eu in March 2019. The pound has also been weighed down by uncertainty about the start of the formal brexit process, as well as low UK economic data. Thus, the influence of finance and trade is indirectly affecting the development of other industries in Britain.

Britain, as a sovereign state, has a lot to do with the eu, which is plagued by bureaucracy and rigid market rules. In addition, it is difficult for Britain to negotiate trade deals with other countries in the European Union, which must be negotiated by Brussels on behalf of eu members. "Brexit" will not only give Britain a chance to re-enact its own laws, but also reclaim its dominant trade rights.

Economic factors also contributed to brexit's victory. The billions in annual eu membership fees have not brought Britain as much benefit as expected. The choice to leave the eu is also an opportunity to recapture the maritime exclusive economic zone. Meanwhile, the poor economic performance of the eu is one of the reasons for the lack of confidence of the "remain" party. According to statistics, from 2008 to 2015, the British economy grew by 6.8%, while the eu only grew by 1.9%. With unemployment at 5 per cent in the UK and 10.2 per cent in the eu, Britain's confidence in the eu's economic development in an environment of increasing globalisation and complex international trade has plummeted.

The refugee crisis and migration problems in Europe have also attracted the attention of the British government. Many are even starting to worry about terrorists mingling with the influx of refugees. Meanwhile, supporters of brexit argue that refugees will take up public resources that used to belong to Britain, putting pressure on British health care, education, transportation and housing. After leaving the eu, the UK can reintroduce immigrants to the market, and select them on the basis of ability rather than nationality, so that they can import highly educated and high-quality talents from other countries.

If the UK is not a member, then the preferential trade policies of its member countries are absent, and the comparative advantages are absent, which will affect the trade between China and Europe, and thus the trade between China and the UK.

First of all, Britain's successful brexit will bring difficulties to china-eu cooperation strategy. According to relevant surveys, China has nearly 500 million potential customers in the European market, and its development prospect is undoubtedly objective. However, the strict trade policy of the eu also makes Chinese enterprises encounter barriers. As a member of the European Union in Britain, the market environment is relatively loose, lead to many Chinese companies, set up branches or even headquarters in the UK, hope I can in the UK market as the starting point, fully open the European market, a strong trade protection barriers, and by the British in other eu countries tariff preferential policies in order to reduce the cost of international trade, etc. In addition, the transfer of technology between China and the UK and even between China and Europe is also expected by many large domestic enterprises. Therefore, Britain is an important part of China's opening to the eu. Britain from the European Union, is indirect break the invisible ties of cooperation, China and the European Union blocked those looking forward to enter the European market of Chinese enterprises' strategy, makes many Chinese enterprises have to choose other ways to seek cooperation in the future and the European Union, and the early based on British is European Union member states and of all kinds of bedding, it would probably have to be compromised or even destroyed one of the torch, become high sunk costs. This is not different from "cooling down" the booming china-uk trade, which will surely have a far-reaching impact on bilateral trade in the future.

Brexit not only caused turmoil in the sterling market, but also disrupted the pace of internationalization of the RMB. As we all know, the RMB has just joined the international monetary fund's monetary package, taking an important step towards RMB internationalization. By the end of 2017, China's non-financial direct investment in the UK even reached 19.14 billion us dollars, and it is because of the prosperity of the RMB business that followed, the British capital London has become the largest offshore RMB business center overseas. And in 2013, both in English and the foreign exchange swap agreement, bank of China, London has become the industry investment in the eu's main "base", many Chinese enterprises, especially the financial industry is therefore will be headquartered in London, England, make its can need not be registered again in other eu countries, the Chinese government will be in London as a promote RMB internationalization important battlefield in European market. As the brexit process proceeds, that advantage is gone, and plans to use London, or the UK, as a starting point for renminbi settlement in Europe may come to a halt.

The impact of brexit on the world economy is inevitable. The brexit process is under way and has begun to show its impact on capital flows.

As the "brexit" process unfolds, the immigration and immigration policies of the eu and the UK may change, increasing the uncertainty of the investment environment. Some Chinese companies in the UK that are keen to hire Chinese may also consider moving their European headquarters away from the UK, reducing jobs and diverting money to better places to invest or back to China. On the other hand, before brexit, the eu will bear part of the financial support of British education investment and subsidies. Now, this part of expenses will be completely borne by the UK itself, which may accelerate the trend of continuous increase of British university tuition fees, and the cost of overseas students will increase invisibly, which will inevitably lead to the increase of expenses. If the real interests of Chinese and overseas Chinese in the UK, overseas students and overseas workers cannot be guaranteed, the backflow and diversion of human capital will become an inevitable trend as living costs increase and employment opportunities decrease. Meanwhile, for the UK, the eu is an important Labour market. There are more than 1 million people working in the UK in the European Union. Once they leave the eu, the visa, status and future of these people will need to be solved step by step.

In 2017, two-way trade in goods between China and the UK reached 79.032 billion us dollars, China's exports to the UK reached 56.718 billion us dollars, up 1.8% over 2016, and imports from the UK reached 22.314 billion us dollars, up 19.4%. From January to June 2018, bilateral trade in goods between the UK and China was us $39.53 billion, up 12.9%. Among them, the UK's exports to China were us $14.5 billion, up 33.0%, accounting for 5.8% of the UK's total exports, up 0.8%. The UK's imports from China totaled us $25.03 billion, up 3.8 percent or 7.6 percent of the UK's total imports, down 0.5 percentage point. From the perspective of the import and export of bilateral trade, china-uk trade has been increasing in proportion to China's foreign trade, and the same is true for the UK, which also has a higher proportion and a higher degree of trade dependence. The importance of china-uk trade to the UK is much higher than that of China. In addition, remarkable achievements have been made in the field of investment. In 2017, the UK invested us $1.5 billion in China, and by the end of 2017, its total direct investment in China had reached us $22.55 billion, making it the second largest source of Chinese investment in the eu. In 2018, China's non-financial direct investment in the UK reached us $1.53 billion. By the end of 2018, China's non-financial direct investment in the UK had reached us $19.14 billion, making the UK the second largest destination for Chinese investment in the eu. Britain has become the main destination of Chinese enterprises' investment in Europe. Over 500 Chinese enterprises have settled here, which is one of the important ways of China's "going out" policy. The British market is crucial to Sino-British trade.

On the other hand, China's main export products to the UK are low value-added products, mainly labor-intensive products, while China mainly imports high value-added capital and technology-intensive products from the UK. Although the bilateral trade structure continues to be optimized, the proportion of the UK's superior products exported to China is still not high, and the comparative advantages of UK products have not been fully utilized, so the trade structure between China and the UK is still highly complementary. The economic complementarity between China and the UK provides an internal basis for the bilateral fta negotiations.

The process of Britain leaving the European Union has begun in full swing. It is a foregone conclusion. So how should Chinese companies respond?

In terms of policy towards Europe, Chinese companies must also speed up the response, readjust their approach to Europe, and try to move their European headquarters to other eu member states to seek the big pie of European market. At the same time, the UK market itself has huge potential. As the brexit process progresses, details of bilateral trade between the UK and the eu and non-eu member states will also be published. Chinese companies may wish to wait and make full preparations and wait for opportunities.

In view of the obstacles to the internationalization of RMB, Chinese enterprises should respond actively and take effective measures. On the one hand, in the face of the turbulence of sterling, enterprises' risk management departments can try other ways, such as futures, to preserve the value of the existing business trade, so as to avoid greater losses at any time. On the other hand, due to the obstacles in the internationalization process of RMB and the lack of currency dividends, many Chinese enterprises using RMB as the settlement currency can also try to find new settlement centers or even move their headquarters away to reduce costs.

There is also an opportunity for the repatriation of human resources and monetary capital. Chinese foreign enterprises can also take this opportunity to actively carry out personnel recruitment, especially for some enterprises with overseas branches. Excellent Chinese and overseas Chinese may become potential stocks for future work. On the other hand, domestic enterprises can try to recruit some excellent overseas students to create greater benefits for enterprises.

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