Let me put the record straight, it is not given for every political entity to follow the Brexit route, and stay in fair shape. The United Kingdom is the sixth largest economy in the world, thus it has the means to outbalance the instability on the short term to realize its long-term objectives.
However, other political entities are unable to sustain such volatility and hardships. Catalonia, for example, has been on a downhill since October of last year. To date, more than 3000 companies, including households such as Banco Sabadell, Caixabank, and gas Natural, have left Catalonia by transferring their registered office to other cities in Spain. This uncertainty surrounding the political future of Catalonia has weighted heavily on its economy and killed investment in the region. In general, small yet rich European regions such as Catalonia share the same ambition of economic empowerment, however they prefer to take it through a less dramatic approach.
On 9 November 1989, the world has changed forever. To survive and thrive in this new world, nations joined political alliances or sign regional trade agreements instead of implanting protectionist measures, which restrained the growth of their economies and industries. Sharing a common identity, striking an economic partnership to ensure sustainable development, and agreeing to form an alliance to defend each other were the pillars to immune the nations from a common danger.
Nevertheless, the financial crisis of 2008 has seen these political and economic joint-ventures hit their first major difficulties, and many caressed the idea to jump ship by calling for protectionism.
President Macron might have made a great political tour de force by managing to give Trump second thoughts on all this trade war enterprise. However, if the French president thinks it is a good credential to launch a leadership bid for the EU at this critical time, this leadership struggle might be the EU downfall. Multilateralism has not been perfect, but there is little desire for countries to abandon it without any proper alternative, because “when goods cannot cross borders, armies will.”
The « BREXIT in a nutshell » posts are abstracts of a university paper written by my brother.
At first, I asked for the paper to get some facts straight. However, while reading, I realized that it was clear, simple, understandable, straight to the point, and I couldn’t do a better job addressing the topic. Therefore, with my brother’s consent, I tweaked the passages & published it.