UK has decided to use its country as a single economic unit. Ten years down the line, it is likely that as a result Scotland as well as Northern Ireland may decide to leave UK and apply to join the EU. In all the six continents there been a development towards geographical cooperation in trade, in services, movement of labour and foreign direct investment.
Association of South East Asian Nations (ASEAN) was formed in 1967. Founding members were Indonesia, Malaysia, The Philippines, Singapore and Thailand. Brunei and Vietnam joined in 1984 and 1995 respectively. Cambodia was admitted in 1999. The Caribbean Community and Common Market (CARICOM) was established in 1973 and has 14 member states. The Economic Community of West African States (ECOWAS) was founded in 1975 and has 16 member states.
International Francophone Organisation (La Francophonie) was created by 21 French-speaking countries. Mercosur (the Southern Common Market), based in Uruguay, signed a Treaty in 1988. It has 11 Latin American countries as members and covers 250 million population. Organisation of Arab Petroleum Exporting Countries (OAPEC) was founded in 1968 and has 10 member states. South Asian Association for Regional Cooperation (SAAARC) was established in 1985 and has 7 member states. EU-USA, EU-China may eventually sign trade agreements: they are both in 15th and 12th round of negotiations.
UK has four, not two options: hard Brexit, soft Brexit, status quo and joining Euro currency at mutually agreed exchange rate. Highest economic growth is most likely the last option.
Nagindas Khajuria
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