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British Political Economy

Do you have faith in Tony Blair? Do you believe the Conservatives are capable of beating New Labour? What can the Liberal Democrats offer?

Note that various articles on the housing markets of the UK, USA and Australia are recorded at House Price Crash Discussion Forums
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PosterMessage
Slightly Optimistic
 04 Jan '18  17:27 : 0 recs : edited 2 times : last edit 04 Jan '18  17:31

Whither the Multilateral Trading System?
The global economy today is dominated by three major players – China, the EU, and the US – with roughly equal trading volumes and limited incentive to fight for the rules-based global trading system. With cooperation unlikely, the world should prepare itself for the erosion of the World Trade Organization.

Free trade seems to have few supporters these days. . . “globalization” has become increasingly contentious,

Consider what type of economy would support a rules-based system. After WWII, the US supported such a system, because of its unassailable economic supremacy. An open rules-based system would also be highly appealing in a world comprising only small countries [*eg, UK after BREXIT?], none of which could hope to gain by relying on its relative economic power.

China’s leaders, despite having proclaimed their support for the multilateral rules-based trading system, haven’t taken concrete action to reinforce it. Their reticence is probably intensified by the assumption that, within the current generation, their country will dominate the global economy; at that point, they might no longer want to be bound by somebody else’s rules.

The conclusion is clear. The world should prepare itself for the erosion of the rules-based trading system enshrined in the WTO.
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Slightly Optimistic
 24 Dec '17  11:24 : 0 recs

It seems that the British-Irish Council [Belfast agreement] hasn't been forgotten.

The EU vote ignored Ireland, but the UK can still change its mind

From Europe forum 01 Dec '17 10:05:

Re the Secretariat of the British-Irish Council being to blame in Brexit. Significantly, it seems that the auditors responsible for this public organisation "of such standing" [16 Nov '17 10:35] have decided it doesn't need auditing.

From 15 Nov '17 09:25
Dangerous to audit public money. . . and Brexit
Further to 13 Nov '17 08:56 below, it seems that the Secretariat of the British-Irish Council is to blame. Specifically the Secretariat is expected to "identify opportunities for developing the Council's work and processes".
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cynic 09
 23 Dec '17  16:26 : 0 recs

What can possibly go wrong?
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Slightly Optimistic
 18 Dec '17  16:34 : 0 recs : edited 2 times : last edit 18 Dec '17  16:40

To become global Britain, join with the US after leaving the EU?

A draft of today's speech by the US President on US national security strategy tells us he proposes "a muscular kind of global activism, fostering new alliances while reinforcing America’s existing commitments; plus a layered missile defence shield".

What can the UK add? International military assistance, perhaps.

Defence strategy expert Laurence Freedman wrote last week about Britain's military expenditure. He raised some fundamental questions about Britain’s international role, saying we no longer need a global military presence for purposes of imperial defence. "The Argentine claim on the Falkland Islands is the only serious threat left from those days. How then to explain to the public why the UK still maintains one of the world’s larger military establishments?"

Moreover the age of western interventions may now be over. The threat from Russia provides the most compelling rationale for the defence effort, he says. However I read today that relations between Washington and Russia are warming.

Can we assume that Nato will endure, he asked. If not, that also has implications for the role of the UK’s Trident nuclear strike force.
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Slightly Optimistic
 17 Dec '17  11:58 : 0 recs : edited 1 time : last edit 17 Dec '17  12:00

A solution was offered by Niall Ferguson, who is said to support the idea of Brexit, although not the management and direction.
the problem with the Brexit vision of global Britain is that if it doesn't include the US and doesn't include a broader Anglosphere, then what exactly is it?

On the other hand, the German government - as it is at present - seems to question whether the West's values of multilateralism supported by Nato, democracy, international law, and open economies is the way forward.

Interesting angles that have a bearing on this matter: New warships and planes at risk due to doubt over MoD savings – MPs
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Slightly Optimistic
 16 Dec '17  11:57 : 0 recs : edited 1 time : last edit 16 Dec '17  12:00

Can we ever make Britain great again, was a theme on 'Newsnight'.

Niall Ferguson was excoriatingly pessimistic:
Jacob Rees-Mogg portrays a 'square', rather a 'cool' Britain. We've got steadily worse at doing things like trade agreements, complex negotiations - ultimately Brexit happened because the complex negotiation with the EU about Britain's special status went horribly wrong for David Cameron. And I think the negotiations of the divorce are also going pretty wrong because David Davis just isn't a match for Michel Barnier.

But luckily we are still very good at entertainment and pretty good at most forms of culture - that is why people will continue to come to London, expecting to be entertained and also amused by our politicians. Entertainment and culture will be UK's selling points in the future,the way things are going.

David Cameron sees the trend.
Former PM takes on UK-China investment role
The former prime minister will take charge of a £750m ($1bn) fund to improve ports, roads and rail networks between China and its trading partners. [*China's belt and road initiative]

President Xi intends on developing ancient trade routes through China and Europe to make it easier for the world to trade with China.
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little c
 15 Dec '17  13:06 : 0 recs

May ...
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little c
 15 Dec '17  02:31 : 0 recs

Good morning! The Times leads today with some editorial comment on rape and justice. A serious miscarriage of justice was narrowly averted at Croydon crown court yesterday. A young man accused of serially raping a young woman was acquitted as the case against him collapsed. Finally granted access to the complainant’s phone records, a defence lawyer saw that a number of her text messages to the accused when they had been in a relationship contradicted the evidence she had already given in court. Police had previously insisted that nothing in the woman’s phone history had any bearing on the case. This was untrue. It has emerged that the Crown Prosecution Service (CPS) routinely withholds such data to save itself the cost of extra legal fees. The Times thunders that slipshod prosecution work is a gross disservice to victims of sexual abuse.
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little c
 15 Dec '17  02:26 : 0 recs

Good morning! The Times leads today with some editorial comment on the democracy surplus: It is clearly wrong for some Conservative MPs to try to stop Brexit, but it is right for Westminster to have a vote on the terms of Britain’s EU withdrawal. It is almost as if Theresa May likes keeping Brussels guessing. Ten days ago she went there promising cabinet support for a Brexit divorce deal only to be ambushed by Ulster unionists. Four days later she returned with new language and a new spring in her step. Another week passed and she was back having been ambushed again, this time by rebels in her own party. They have secured a “meaningful” vote for parliament on the terms of Britain’s EU withdrawal. Brexiteers worry that this has weakened Mrs May’s hand in negotiations on those terms that are only just beginning. They should worry less. This was an avoidable tussle. That the government let it happen reflects its weakness in the House of Commons, compounded by…
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little c
 15 Dec '17  02:26 : 0 recs

Good morning! The Times leads today with some editorial comment on the democracy surplus: It is clearly wrong for some Conservative MPs to try to stop Brexit, but it is right for Westminster to have a vote on the terms of Britain’s EU withdrawal. It is almost as if Theresa May likes keeping Brussels guessing. Ten days ago she went there promising cabinet support for a Brexit divorce deal only to be ambushed by Ulster unionists. Four days later she returned with new language and a new spring in her step. Another week passed and she was back having been ambushed again, this time by rebels in her own party. They have secured a “meaningful” vote for parliament on the terms of Britain’s EU withdrawal. Brexiteers worry that this has weakened Mrs May’s hand in negotiations on those terms that are only just beginning. They should worry less. This was an avoidable tussle. That the government let it happen reflects its weakness in the House of Commons, compounded by…
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little c
 15 Dec '17  02:26 : 0 recs

Good morning! The Times leads today with some editorial comment on the democracy surplus: It is clearly wrong for some Conservative MPs to try to stop Brexit, but it is right for Westminster to have a vote on the terms of Britain’s EU withdrawal. It is almost as if Theresa May likes keeping Brussels guessing. Ten days ago she went there promising cabinet support for a Brexit divorce deal only to be ambushed by Ulster unionists. Four days later she returned with new language and a new spring in her step. Another week passed and she was back having been ambushed again, this time by rebels in her own party. They have secured a “meaningful” vote for parliament on the terms of Britain’s EU withdrawal. Brexiteers worry that this has weakened Mrs May’s hand in negotiations on those terms that are only just beginning. They should worry less. This was an avoidable tussle. That the government let it happen reflects its weakness in the House of Commons, compounded by…
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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little c
 14 Dec '17  20:09 : 0 recs

Good night! The FT leads tomorrow with some editorial comment that MPs take back control to signal a smoother Brexit.
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