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UK is fishing in two lakes: free trade with China eyed as well as stronger relations with India





welcome By: Elena Grace Flores
Brexit orBritain’s exit from the EU has brought surprising actions from the British government. Perhaps, they are just weighing trade opportunities to retain a healthy economy after it slumped a bit after Brexit. Exploring free trade with China can be misinterpreted as showing rebellion to EU after gaining their freedom from it but others put it as their way of learning the hard way. Perhaps they wanted to experience China’s unfair trade practices, mass produced sub standard products and sometimes dangerous product contents. On the other hand, they are also on there way to have some talks with China’s rival, India – another giant in Asia, but it is not known yet what will come out from that. Clearly still in the exploration stage. Read this:

The Inquirer wrote: LONDON, United Kingdom — Britain’s finance minister warned Brexit would cast a “shadow” over the world economy but said he was eyeing a free trade deal with China in interviews with the BBC and Sky News on Sunday. Speaking on the sidelines of the G20 meeting of leading world economies in Chengdu, China, Philip Hammond told Sky that the vote to leave the EU was “not the only shadow the world economy faces”. “There is going to be uncertainty about the outcome hanging over the world economic outlook for perhaps the next couple of years,” Hammond said.

It added: China President Xi Jinping before the referendum had said that he hoped Britain would remain in the 28-nation bloc to promote the “deepening development of China-EU ties.” Senior figures from some of Britain’s biggest financial services companies, including HSBC, Virgin Money, the London Stock Exchange and Standard Life were travelling with Hammond. Prime Minister Theresa May also discussed a trade deal with Australia in a phone call with Prime Minister Malcolm Turnbull earlier this month. Foreign Office junior minister Alok Sharma was also travelling to India on Monday on his first visit since his appointment. “Britain is open for business and thriving on the world stage. We want the strongest possible relationship with India,” Sharma said.

Reference: http://newsinfo.inquirer.net/798802/after-leaving-eu-uk-eyes-free-trade-with-china

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