We are apparently in talks about joining TPP (HERE), the Trans Pacific Partnership, a possible trade agreement with nations on the Pacific rim. These are nations like Australia, Singapore, Canada and Mexico. You may know enough about geography to realise we are not on the Pacific rim so this gives some idea of how stupid Brexit is. We are so desperate to sign trade deals, any trade deals that we are erecting barriers between ourselves and our nearest and largest trading partner in order to lower barriers with countries on the other side of the world.
Needless to say this has all been greeted with derision.
It also coincides with an interview Lord O'Neill has given to a German newspaper (HERE) describing the governments attitude to trade as a "fantasy". This was even before the TPP talks were announced so what he would say about that we can only guess.
He said:
"This year, China is going to grow by 6.7 percent. In nominal GDP-dollar terms, China will create a new Australia this year. It will create 4 New Zealands this year. And Liam Fox and our ludicrous foreign minister spend half of their life going to New Zealand. It’s mad. Brexiters in May’s cabinet like Boris Johnson or Michael Gove were very intellectual, smart people. But they have no clue about the world of economy. They are clueless, sadly. Clueless"
Lord O'Neill actually thinks we could sign some sort of trade deal with China and thinks the Chinese want to do so. But Hosuk Lee-Makiyama, a trade expert casts doubt on whether China really wants to do any sort of deal. They are certainly not desperate and in any trade talks with them it's easy to see who would get the best part of the deal. They are several times our size, don't need a deal while we are chafing at the bit. What does that tell us about Brexit?
