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The Demise of Global Britain

October 5, 2018 • GLOBAL ECONOMY, CRITICAL ANALYSIS, Editor’s Choice, Europe, Special Focus on Brexit

By Graham Vanbergen

The almost universal collapse of British foreign policy could not have been timed any more accurately than right now – a time of real and perceived deepening uncertainties around the world. Graham Vanbergen argues that Without Brexit, merely a scheme of political self-harm devised solely by the ruling Conservative party decades ago, Britain would now be revelling in its new-found powers by being the global super league mediator with its characteristic calm and cool Britannia charm.

 

Unfortunately for Britain, it decided to be the forerunner of isolationism by abandoning the close relationships it had built that firmly anchored America with an ever more confident European Union. Both were trading partners that were more recently advancing on a more adversarial trajectory, now currently locked in a war of words and finger-pointing with all the possibilities of a crumbling relationship that could lead to a future trade war.

 

“Keep Calm – It’s only a trade deal.”

Britain with hundreds of years of diplomatic experience could have been the trusted umpire of Atlanticism while taking full advantage of its position in the meantime.

Today, global Britain is witnessing the complete opposite of “taking back control”. If anything, as the London School of Economics recently put it, the real Brexit dividend, if ever there was one, is that we are facing “a decade of economic underperformance against its peers.” 1

After the two years since Britain’s EU referendum, it has become clear there never was a plan B. Aspirations of reviving its past global influence have fallen into what looks like a nightmarish delusion espoused by the political and media mouthpieces of the right wing. Far from being a small island nation punching way above it weight – Great Britain, as it was once known, is the now the weakest link of the global power super league.

 
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About the Author

Graham Vanbergen’s business career culminated in a Board position in one of Britain’s largest property portfolio’s, owned by one of the biggest financial institutions in the world. Today he is founder and contributing editor of TruePublica.org.uk and director of the Equity Research Centre that focusses on Britain’s housing crisis.

 

References

1. Zenghelis, Dimitri. “The real Brexit ‘dividend’: a decade of economic underperformance and political crisis,” LSE. (2018): http://blogs.lse.ac.uk/politicsandpolicy/the-real-brexit-dividend/

2. “The Dire Consequences of a No-deal Brexit,” Financial Times https://www.ft.com/content/0ebec84c-8e64-11e8-bb8f-a6a2f7bca546

3. “UK Wage Growth Weakest in G7 since Financial Crisis,” Financial Times https://www.ft.com/content/c4437c9e-7ec4-11e8-bc55-5 0daf11b720d

4. “A Third of European Firms to Cut Investment because of Brexit – Survey,” Reuters. (2018): https://www.reuters.com/article/uk-britain-eu-investment/a-third-of-european-firms-to-cut-investment-because-of-brexit-survey-idUSKBN1JM1MS

5. Vanbergen, Graham. “Brexit: The Great Con That Will Ruin Britain,” TruePublica. (2018): http://truepublica.org.uk/united-kingdom/brexit – the – great – con – that – will – ruin – britain/

6. Deer Chris. “Is the SNP Reviving the Idea of Another Scottish Independence Referendum?” New Statesman. (2018):  https://www.newstatesman.com/politics/scotland/2018/04/snp – reviving – idea – another – scottish – independence – referendum

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