Free Trade, Brexit, and the WTO

Free Trade, Brexit, and the WTO

The debate surrounding the EU referendum in Britain, scheduled in two weeks, and the fate of the UK outside of the EU, is now in full swing. Unsurprisingly, little of substance has been said so far on the issue. One would expect that both sides would be better prepared with arguments to support their cause, but many aspects discussed have not only been erroneous, but have appealed to people’s fear rather than their intelligence. Both the Remain and the Leave camps have failed to show how either decision would enhance economic and political freedom; instead, they have tried to one-up each other in the preservation and growth of the existing welfare state, military complex, and bureaucratic apparatus.

Setting aside the disappointing democratic discourse within the UK, an even more irritating factor have been the pronouncements of international organizations regarding the effects of a possible Brexit. As if economic progress were impossible before the creation of European inter-governmental institutions, the IMF has repeatedly warned that a Leave vote would “precipitate a protracted period of heightened uncertainty, leading to financial market volatility and a hit to output.” The latest to join in this is the World Trade Organization, arguably the least entitled to display self-righteousness given its track record. Roberto Azevedo, WTO’s director general, has declared that in the event of a Brexit, he doesn’t “know exactly how members are going to behave [toward the UK] and what kind of engagement there will be. [Negotiations might take] two, three, four years. It can take a decade or more. It depends on the complexities of the negotiations and the appetite for members to do it quickly… [but] there would be a vacuum. The UK would be the only WTO member without a list of its commitments… it’s a legal uncertainty. I don’t have a crystal ball and the message I am bringing to you is that nobody has that crystal ball.”

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One thought on “Free Trade, Brexit, and the WTO”

  1. Carmen is right about details and causal links regarding the economic implications. There are so many actors malevolent and benign. Soros and other Banksters may seek to generate turmoil and profit from an out result.Even the “money out of thin air”, Bank of England has threatened to precipitate intersts rate rises.

    However to suggest that the issues are NOT clear is sophistry. The Leave state clearly self-determination, sovereignty, border control as reasons. Being anti-TPP/TTIP, I reject the agreement, corporations and statists that wish to enact this deceitful agtreement.

    Is a contract or agreement based on fraud and deceit enforceable? Are the TPP and TTIP negotiations NOT based on deceit? Any party to the deception or fraud is corrupt, so the corporations, US and EU goverment are corrupt. Why would we CONSENT to the imposition of a corrupt “agreement” by a corrupt lobby friendly EU and US states?

    That nations states party to TPP and TTIP are corrupt is hype? No! Any agreement, statute, “law” which requires the publics consent, compliance MUST be openly discussed and agreed. Anything else is a negation of the “public” stance of rule of law, ergo corruption!

    UK citizens once removed from the overarching stinking turd that is the EU can focus on the psycopaths that run their state and corporations.

    Like

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