UK trade would get affected by limitations on migration
Posted on June 27, 2016
Two Swedish economists, Dr. Andreas Hatzigeorgiou, and Dr. Magnus Lodefalk speaking on behalf of their fellow economists say that one of the most adverse impacts of Brexit would be on the trade in the UK. They further added to the point that earlier reporting and assessments of the implications of Brexit on trade and the British economy seemed to underrate the turmoil it can cause as they have not been able to completely comprehend the complex relationship between migration and trade.
Brexit would lead to disruption of trade ties between the UK and EU, reported the Financial Times quoting the statements made by the two economists. In addition to the restrictions on trade in the UK after Brexit, adverse trade policy outcomes and migration restrictions could seriously hinder foreign trade in the country.
Besides, the high number of immigrants residing in Britain, the number of Britons living outside the country is about 5.5 million. Many EU countries have a considerable number of British citizens. Several academic studies have indicated that migration encourages trade. It has been overlooked that immigrants contribute to the strengthening of ties between their adopted countries and home country and also provide market information for organizations & linkages to their home countries. All these issues have been overlooked till the poll for Brexit referendum, say the economists.
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