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extra_specticles t1_jeefu2q wrote

Looks like brexit is working....only a few hundred years before the economy is back to pre brexit levels....

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Purple-Quail3319 t1_jeen128 wrote

Remember when the UK was part of the largest free trade bloc in the world and then shit all over itself for some reason

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Euclid_Interloper t1_jeeqo8n wrote

Good old post-imperial denial. Feels like alot of ex-empires have been having a mid-life crisis. Britain wrecks it's trade status, Russia picking fights, Turkey slipping into dictatorship, and then there's Serbia...

Yup, we're just another elderly country suffering from phantom empire syndrome.

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UniquesNotUseful t1_jefaenu wrote

CPTPP with UK will have a GDP of $16.6tn Vs EU $16.3tn.

This will still only be the 3rd largest free trade agreement after RCEP and US-Mexico-Canada (Old NAFTA).

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wabblebee t1_jefr6v5 wrote

2022 EU GDP was 16.6tn. The UK already has free trade agreements with 7 of the 11 countries in CPTPP and the total trading area only makes up ~<8% of the UK's total trade, so it is doubtful that this can replace the economic damage the divorce from the EU has done. Escpecially if one considers that many of the damages came from worker shortages and supply problems that a pacific trading zone can hardly solve. IF china joins that would, of course, pave the way for massive profits, but also put the whole trading partnership into their hands with them making up half of the total gdp.

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Blackfist01 t1_jeefbld wrote

Wow, what an accomplishment...😑

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autotldr t1_jeeh3bb wrote

This is the best tl;dr I could make, original reduced by 84%. (I'm a bot)

> The UK has signed a deal to join a trade pact with 11 Asia and Pacific nations, three years after it officially left the European Union.

> The government said the agreement was the UK&#039;s &quot;Biggest trade deal since Brexit&quot;.

> The UK already has free trade deals with all of the members except Brunei and Malaysia, some of which were rolled over from its previous membership of the EU. And even with some gains in trading the government only estimates it will add 0.08% to the size of the economy in 10 years.

Extended Summary | FAQ | Feedback | Top keywords: trade^#1 government^#2 join^#3 deal^#4 UK^#5

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Fetlocks_Glistening t1_jeeukgl wrote

To boost economy by 0.08% in 10 years?

That's, like, opening one additional Asian take-away each year, right? Definitely worth a Brexit, Boris.

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orange4zion t1_jeg0kuy wrote

I could go recycle the beer bottles in my garbage can and provide a bigger boost to the economy than this.

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ballarn123 t1_jefwalm wrote

Is that not even within the margin for error? Should this even be reported on?

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Lon72 t1_jegujym wrote

Brace yourself people

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WinterWindWhip t1_jeegkvz wrote

Not making the economy contract is a huge step forward for the big brains.

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Qwertyqazws t1_jeeyk8w wrote

How will the UK- TPP deal affect the UK rejoining the EU? Can a country be in both the EU and another trade block?

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UniquesNotUseful t1_jefc7g5 wrote

Don't think this will be the main barrier to rejoining the UK, that's more no political desire on either side.

Nothing says it's impossible but makes it more difficult in theory. None of the UK rules, laws or regulations seem to have been incompatible with CPTPP, so broadly compatible.

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Qwertyqazws t1_jegffr4 wrote

Most of the British public want to rejoin the EU, and the Labour party will probably hold a rejoin referendum some time after they win the 2024 election.

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