I’m a CNBC/Bloomberg junkie and I just can’t go a day without seeing what news stories about Brexit which I think is another opportunity for the United States. With the regional thinking that is the central theme of this website and I was thinking this “how consolidation might work for the standard bearers of the English language”. I’m a critic of NAFTA and the damage it has caused to Mexico’s agriculture, labor, and environmental standards but with a reformed tax system can remedy the chaos.
Here is the definition from Investopedia about Brexit:
“The Brexit, an abbreviation of “British exit” that mirrors the term Grexit, refers to the possibility of Britain’s withdrawal from the European Union. A number of British political parties support a referendum on EU membership; the most prominent are the Conservative Party, which has promised a 2017 in/out referendum if it wins the May 2015 General Election”
Read more: Brexit Definition | Investopedia http://www.investopedia.com/terms/b/brexit.asp#ixzz3z2ip78Jf
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With the polls gaining support and the U.K’s business community feels constrained by the E.U. regulations. I agree with their argument that they should focus on the America, India, and China than the E.U. which has different institutions that are descended from the Napoleonic Code which will not work in the U.K.’s case. The net gain for Britain joining NAFTA will help American exports with the net gain of 63,182,000 new customers. That adding about (*)1.5 new California’s, about two Texas’s and about three New York State’s. This is excluding immigration from the newly form trading block which can dominate in this age of urbanization around the world (esp. India and China).
The common cultural, language, and liberal values on the economy, defense, education, scientific development will advance R&D in the new alliance. For the capital markets, this new alliance will bring all of the top exchanges in the fold under a single banner. The TMX (Toronto Stock Exchange) and LSE (London Stock Exchange) can help the transiting to the Monster NYSE by giving small companies the experience of going public without the hassle of the Sarbanes–Oxley Act (SOX) which can take up to 5% of the companies’ budget. With a history and background in the smaller but influential capital markets would help keep new wealth begin created. This is nothing but benefits for all parties involved in the adding of the U.K. into the NAFTA agreement.
“Britons also feel at home south of the Canadian border. Contrary to an oft-repeated myth, links between Britain and the United States are not reducible to the personal relationships between presidents and prime ministers. The U.S. and the U.K. have always been each other’s, primary financial partners. A few simple measures could substantially deepen this relationship, especially once Britain no longer needs to adhere to EU rules.”
“Foremost among these would be to admit a post-EU Britain to the North American Free Trade Agreement. Nafta is not a perfect vehicle, but it has the enormous advantage of already existing, with a nearly 20-year track record behind it. And unlike the EU, Nafta would not seek to impose a single social vision on its members. For example, Nafta has had no effect on Canadian social policy, which is very similar to Britain’s—except for Canada having more revenue to pay for it all.”
Let’s not forget about the four top universities working together
Harvard, Yale, Cambridge, and Oxford University with all the top universities in the U.S. and U.K. would create an R&D, Educational, and Scientific Giant.
Also the two centers of global finance under one umbrella which is New York and London.
Who knows???? A super merger of English Speaking Nations/Markets may be the new global titan!
Founding Purpose: “We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity.”
The mechanism for achieving this goal is Capitalism and Democracy.