Brexit fallout / Cambodia’s GDP to suffer ‘highest losses by far’, report states
By: Robin Spiess, Thomas Brent - Posted on: February 1, 2019 | Cambodia

A recent report has outlined the potentially damaging effects that the UK’s withdrawal from the European Union could have on Cambodia and other countries in Southeast Asia
[Excerpt ]
The United Kingdom’s decision to leave the European Union (EU) could push more than 1.7 million people in the world’s least developed countries into poverty, a report by the German Development Institute (DIE) has found.

Several Southeast Asian nations are among the countries that will bear the brunt of this decision, with Cambodia – which relies heavily on preferential trade agreements to gain access to the UK market – expected to be hit hardest by the impending exit.

In Southeast Asia, there are currently four countries with EBA status: Cambodia, Laos, Myanmar and Timor-Leste. According to the report, all four of these countries are likely to experience a “strong decrease in bilateral exports to the UK” in any instance of Brexit. As trade barriers go up, Southeast Asia’s trade is doubtless going to take a hit.

But no other country will see as great an impact as Cambodia, which has the highest dependence on the UK market. With 7.7% of its total exports currently going straight to the UK, a hard Brexit scenario could see Cambodia’s overall gross domestic product (GDP) fall by a harsh 1%.

Cambodia is especially vulnerable to the effects of Brexit because the Kingdom still relies heavily on its garment and textiles sector, which is likely to see a decline in aggregate exports of nearly 3%. The food trade is also going to be hit, with an aggregate decline of 4.14% across all least developed countries.

And these predictions, which show economic losses worldwide, are actually fairly moderate.

“These are conservative estimates of Brexit’s negative impacts,” the report read. “They do not take into account the additional implications of uncertainty, depreciation of the pound sterling, reduced aid spending, remittances and investments.”
Full article: https://sea-globe.com/cambodia-to-face- ... t-fallout/

The UK is hardly going to shut its doors once all of a sudden it has a desperate need for new markets. Quite the opposite, HE could string up all his political opponents and reopen the killing fields and still get a preferential deal after Brexit

The EU already threatened to cancel EBA with Cambodia. Why didn't the author say that? Just to make it about Brexit and sell more print? Sensational

More Brexit bollox.

The Germans are, quite rightly, far more concerned about their car manufacturers and the 750,000 cars per year they export to the UK.

Why they are worrying about the effects of the post-Brexit Cambodia - UK garment and pepper trade is beyond me. If this is what the German Development Institute is up to, perhaps they should get their funding cut.

Britain will be able to make it's own deal with Cambodia and whoever the fk it wants to without being put through the wringer of EU big bully control freaks! Rumor is, it will still be able to obtain Spanish lettuce too

More Brexit Bollox
https://www.theguardian.com/politics/20 ... ly-reports?

The Queen is going to be evacuated...

This is what the above link refers to.

Apologies for my posting faux pas....

Doc67 wrote: ↑Sun Feb 03, 2019 9:01 pm The Queen is going to be evacuated...

This is what the above link refers to.

Apologies for my posting faux pas....

Yeah too funny. My mate suggested that Prince Phil will be driving the getaway car.

Maybe a "Brexit Bollox Boulevard " thread for Brits and those amused by the ongoing fiasco?

Never fear, it will all be OK, the Tories appear to have everything under control !!!!!, lol