I am against Brexit because I think the UK will gain more by staying within the European Union and not outside. Earlier articles are many and here’s one. Well, at least we have one more prediction which tells of the potential of the UK losing the 6th largest economy crown to France due to Brexit. Here’s that article in standard.co.uk France is set to overtake the UK to become the world’s sixth biggest economy next year, according to a report. The Centre for Economics and Business Research (CEBR) warned that “disruption” caused by Brexit was inevitable due to lower inward and business investment.
Fortunately, France will not be able to hold on and the UK is expected to take back the 6th largest economy crown by 2020 and hold on to it until 2033. Meanwhile America will lose its world’s largest economy by 2032 to China. (That’s just 13 years away…) Now for that IMPORTANT few sentences. Deputy chairman Douglas McWilliams said: “The World Economic League Table shows that despite global uncertainty and the tightening in US monetary policy which has pushed down some of the emerging market currencies, the 21st century is still likely to be the Asian century. In 2003, the world’s five largest economies were the US, Japan and three European countries. Thirty years later, three out of the top five economies will be Asian and only one will be European. Here’s that article in standard.co.uk
There are many reasons why most liveable countries are usually the advanced economies and the most affordable ones are usually the emerging ones. One is already a grown up and has everything which everyone likes to have. The other is still growing and thus many things are still being built today. Even when we look at the property market for example, we may see the property affordability is already at breaking point for many advanced property markets, unless the prices slow down to allow the income to catch up. Hopefully this happens smoothly or else, it will affect everyone else too. Happy understanding the dynamics of the world economy.
written on 28 Dec 2018
Next suggested article: Money not enough from beginning 2019
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