Economics class: The UK is still wrestling with the incoherence of Brexit
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.
Specification:
International trade, trading blocs, barriers to trade
Click to read the article below and then answer the questions:
The UK is still wrestling with the incoherence of Brexit
‘UK exporters currently don’t have a level playing field in terms of trade bureaucracy, nor do they have a big, friction-free market to which to pivot their sales.’ With regard to EU member states, explain what is meant by frictionless trade
‘Where the trade intensity of other countries’ economic output has rebounded after the pandemic, the UK’s has not.’ Using a diagram, analyse the effects of imposing full import checks on products coming from the EU on the UK’s trading performance
Evaluate the potential costs to the UK economy if EU businesses prefer to exploit other options rather and don’t have the appetite to suck up the cost and hassle of UK checks
Gavin Clarke, Emmanuel College
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