The prorogation of the Bet365 app download Parliament has increased the possibility of a "no-deal Brexit"
September 02, 2019 09:15 Source: "Bet365 app download Journal" Issue 1769, September 2, 2019 Author: Zhao Yuan, our reporter in London

According to the British Broadcasting Corporation,Queen Elizabeth II approved Prime Minister Boris Johnson’s request to prorogue Parliament on August 28。The British Parliament will be prorogued from September 10 to October 14。This means before the scheduled October 31 Brexit date,Members of Congress have more time to discuss the "Brexit" plan,The possibility of a “no-deal Brexit” for Bet365 app download surges。What impact will "no-deal Brexit" have on the British economy,Where will the relationship between Bet365 app download and the EU go in the future?Reporters interviewed relevant experts and scholars on the above issues。

 Bet365 app download was suspended due to protests

Johnson said,Regardless of whether there is an agreement,Bet365 app download will “Brexit” from the EU on October 31st。The Speaker of the British House of Commons, John Bercow, protested Johnson’s request to the Queen to prorogue Parliament。He thinks,The Prime Minister should respect the Constitution,Establish a dialogue mechanism。British Labor Party leader Jeremy Corbyn said,In view of the fact that the Prime Minister promotes "no-deal Brexit" through the prorogation of Parliament,He will when the time comes,Initiate a vote of no confidence。

Michael Gordon, professor of constitutional law at the University of Liverpool, UK, believes,The prorogation of Parliament caused great controversy。This decision ignores the values ​​that are fundamental to the functioning of the British constitutional system。The British “Brexit” process has put its political system under pressure,“No-deal Brexit” may turn into a political crisis in Bet365 app download。

 The Bet365 app download economy faces challenges

Paul Johnson, Director of the British Institute for Fiscal Studies, believes,As the possibility of "no-deal Brexit" increases,The British economy will face risks in the next few years。“No-deal Brexit” damages Bet365 app download’s trading relationship with its most important trading partner,This will reduce UK national income by tens of billions of pounds。The Bank of England lowered its economic growth forecast,In the context of weak international economic growth,The investment received by Bet365 app download may decrease in the future。After the end of fiscal austerity,The government hints at increasing government spending to help Bet365 app download survive the "no-deal Brexit" crisis。It is possible,But only if the government directs spending to areas where the economy needs it,Otherwise it will also bring serious risks。If the impact of "no-deal Brexit" is to cause a series of economic deadlocks,Then increased government spending may push prices higher or prompt banks to raise interest rates。

Mark Carney, Governor of the Bank of England, said,The future of the British economy depends on the manner and timing of Brexit。current,The increasing uncertainty about Britain’s “Brexit” and the weakening global economy have seriously affected Bet365 app download’s economic balance。Although the international community predicts that the future monetary policies of major countries will generally tend to be loose,But global economic growth momentum remains weak。To some extent,This reflects a significant spike in economic policy uncertainty and the possibility that trade protectionism may be more widespread than expected、Persistent and destructive。These factors are inhibiting global business investment,And may push global interest rates lower,Compressing limited monetary policy space。Britain’s “no-deal Brexit” may cause the pound to fall,Pushing up the inflation rate,Resulting in further weakening of demand,Reduced trade,Increasing uncertainty and tightening financial conditions,The supply chain may also be greatly affected。

  The future relationship between Bet365 app download and the EU is unpredictable

Carney said,Much evidence suggests that uncertainty about Bet365 app download’s future trading relationship with the EU will lead to further losses。The current situation in Bet365 app download also serves as a warning to other countries,Protracted trade frictions will have potential impacts on global investment confidence and trade activities。

How will the future relationship between Bet365 app download and the EU develop?Chris Rowley, a professor at Kellogg College, University of Oxford, UK, said in an interview with this reporter,Britain’s “no-deal Brexit” will also have a negative impact on the EU,Both Bet365 app download and the EU will pay more attention to the construction of their future relations。There are two reasons for this: first,With the end of the shaky hesitation of the Theresa May era,Johnson’s clearer stance and the reality of preparing for a “no-deal Brexit”,Both reflect the obvious change in Britain’s attitude towards “Brexit”,Rejection of extension,Insist on “Brexit” as scheduled。Secondly,Britain’s “Brexit” will bring severe multiple impacts to the EU,The size of the EU will shrink with Bet365 app download’s “Brexit”。Bet365 app download is the second largest contributor to EU GDP and the third largest contributor to the budget。Bet365 app download is an important export market and the largest foreign direct investment destination for the EU。so far,Bet365 app download is also the largest recipient of high-tech start-up investment within the EU,London is one of the top financial services cities in the world。

Raleigh thinks,Improving tariffs between Bet365 app download and the EU will not help solve global trade problems,Bet365 app download can go further in promoting trade globalization,Promoting China-UK cooperation to usher in a golden era。Since 1999,British import and export to China increased sharply。According to HMRC,In 2018, China jumped to Bet365 app download’s 6th largest export market and 4th largest import market。In addition,British exports of service products to China are higher than imports。China and Britain can cooperate in more fields in the future,For example, promoting Sino-British cooperation in education,Strengthening Sino-British University、Exchange and cooperation projects between think tanks。Driven by the "Shanghai-London Stock Connect" mechanism,British companies listed and traded in China,Chinese companies are listed and traded on the London Stock Exchange。China and Bet365 app download should jointly build a bridge for financial technology cooperation,Further explore cooperation opportunities in the fields of market access and compliance,At the same time under the framework of the “One Belt, One Road” initiative,Carry out financial infrastructure investment cooperation,Working together to build an international financial network。

(Bet365 app download newspaper, London, August 31)

Editor: Cui Cen
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