British Election, Advancing Brexit, Heralds End of a Global Trade Era - News Summed Up

British Election, Advancing Brexit, Heralds End of a Global Trade Era


LONDON — For more than seven decades, the global powers that be operated on the assumption that greater economic integration amounts to historical progress. But that era is over, as Britain’s voters have now made clear. Another complex phase of the tangled divorce proceedings lies ahead — negotiations over the terms of Britain’s future economic relationship with the Continent. But in one form or another, “getting Brexit done,” the mantra that Mr. Johnson promised and can now deliver, marks a profound change in the world trading system. In the aftermath of World War II, the victorious Allies forged an international order built on the understanding that when countries swap goods they become less inclined to trade artillery volleys.


Source: International New York Times December 13, 2019 10:52 UTC



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