For all the talk of nationalism and isolation, the world’s economies still want free trade zones. In the wake of the United Kingdom’s vote to exit the European Union (Brexit), the U.K. is anxiously pursuing access to the European Union’s single market after their departure. In a bid to retain foreign corporations and manufacturing, the U.K. is making promises to pursue full access to the E.U.’s single market during their Brexit negotiations. The Brexit vote has made many international corporations nervous and led them to second guess their decision to base operations in the U.K.. Believing that Brexit will restrict the UK’s access to the EU, many companies are considering moving operations into the E.U. Zone.
The reality that will be facing the U.K. and the U.S. is that for all their talk about protecting their economic interest and retreating from the world, they are relying on accessing the world’s markets in order to fuel their economic growth. Even if the adoption of regional trade agreements cease for a while, singular agreements will continue to be pursued. Donald Trump has promised to pursue bilateral agreements which will continue to create unfettered access to markets and allow for the free movement of both goods and jobs. The fact is that trade is as old as human civilizations and there is no stopping it.
