support@kopiandproperty.com

Brexit: Now even the army is needed to ensure there’s petrol for everyone?

Brexit London

Brexit: Now even the army is needed to ensure there’s petrol for everyone?

No man is an island. This is applicable to countries as well. This is especially true when it comes to economy and trade. No trade, no economic growth lah. No economic growth, stop talking about more jobs and later on, more demand for goods and after that, properties and more.

When it comes to economic grouping, the European Union (EU) is extremely powerful and when they do trade negotiations, they do as a group. ASEAN is a loose coalition of countries and we could be even more powerful if we could negotiate with any other country or groupings as an economic bloc versus individually like what is happening today.

Anyway, ASEAN can do more but for now let’s look at this country where even the access to petrol to drive their cars is threatened simply because they do not have enough truck drivers now that no EU citizens could work in the UK without lots of bureaucracy. The UK decided for Brexit and now they start to feel even more effects from it. Latest one is this.

Article in nst.com.my Department for Business, Energy & Industrial Strategy said in a statement issued late on Monday that the army is on standby to help with ongoing fuel crisis due to tanker driver shortages which led to panic buying and causing many of the country’s pumps dry.

The Petrol Retailers Association said almost half of the UK’s 8,000 fuel pumps had run out of petrol on Sunday, blaming “panic-buying, pure and simple” for the issue.

The government has already made a drastic U-turn on tighter post-Brexit immigration policy, offering short-term visa waivers to foreign truckers to help plug the shortfall.

Critics blame government inaction on tackling shortages of lorry drivers after Britain’s departure from the European Union in January and the pandemic, which saw many foreign truckers leave the country. There are a lot more details on how potentially bad the situation could become. Read it here: Article in nst.com.my

Brexit’s issues and what EU thinks about Brexit

This is what Germany’s election winner (replacement for Chancellor Angela Merkel) has to say about Brexit. In January 2020, just before the UK left the EU, Mr Scholz said Britain’s financial sector will not be as important to the EU after Brexit. He also added that a non-member (to the EU) cannot have the same advantages as an EU member. Read more about it here: express.co.uk

This is what France President Emmanuel Macron has to say just recently. He warned that the UK would not get access to the EU’s single market in the event of Brexit. He said: “People deciding to leave the single market will not be able to secure the same terms.” Do read the full Article in express.co.uk

As for the Netherlands, Article in worldfinance.com it is starting to take over the new number one hub for finance in Europe. Suzanne Cox, Head of Foreign Investments at Amsterdam In Business said that before Brexit, most fintech companies were focused on London as Europe’s fintech hub. But now there is less talent there, and following Brexit there is also a need for many companies to move somewhere else.”

Just need new trading partners maybe?

Perhaps the UK just need to find new trading partners and not just rely on all the ‘neighbours’ nearby. They have also started to be serious with the potential of joining the 11 members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP trade pact removes 95% of tariffs between its members: Japan, Canada, Australia, Vietnam, New Zealand, Singapore, Mexico, Peru, Brunei, Chile and Malaysia. Read more details here: theedgemarkets.com

Anyway, it’s great to have the UK in CPTPP. It will add in a country which is a top 10 largest economy in the world as at end 2020 into the CPTPP. The UK is ranked 6th largest in the world and the second largest in European Union in term of Gross Domestic product (GDP). They do realise that they need new trading partners since they are not too welcomed in the EU at the moment.

Happy following the news about trade and economics.

Love news like this and more? Sign up for daily investment news updates. Alternatively, Follow me on Telegram here.

Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.

Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article: Landed vs High-rise, which is better for price increase?

Header Photo by Chris Schippers from Pexels

 

Property Investment always start with knowledge. Equip ourselves with more here.

Motion arrow towards right
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Motion arrow towards right
Share on facebook
Share on twitter
Share on linkedin
Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

Facebook Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Table of Contents

Most Recent Posts

Connect and network with key industry leaders and decision makers in the Asia Pacific real estate sector. Be a part of the PropertyGuru Asia Property Awards series. For more information, visit AsiaPropertyAwards.com/sponsorship #AsiaPropertyAwards #GoldStandard
Connect and network with key industry leaders and decision makers in the Asia Pacific real estate sector. Be a part of the PropertyGuru Asia Property Awards series. For more information, visit AsiaPropertyAwards.com/sponsorship #AsiaPropertyAwards #GoldStandard

join the family

Like us for daily investment news and more

Hit the like