Clean Brexit : Why Leaving the EU Still Makes Sense - Building a Post-Brexit Economy for All

Foreword -- Acronyms and abbreviations -- Editorial -- Executive summary -- Overview: Globalisation and the roleof international governance -- Globalisation and the level playing field -- The internationalisation of state-owned enterprises -- Protecting and promoting competition in a global marketplace -- Moving towards more responsible globalisation.;Annotation Global activity is firming broadly as expected. Manufacturing and trade are picking up, confidence is improving, international financing conditions remain benign, and commodity prices are stabilizing. Growth in emerging market and developing economies (EMDEs) is set to recover, as obstacles to growth in commodity exporters diminish, while activity in commodity importers remains robust. Risks to the global outlook remain tilted to the downside. These include increased trade protectionism, elevated economic policy uncertainty, the possibility of financial market disruptions, and, over the longer term, weaker potential growth. A policy priority for EMDEs is to rebuild monetary and fiscal space that could be drawn on were such risks to materialize. Over the longer term, structural policies that support investment and trade are critical to boost EMDE productivity and potential growth. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes two Special Focus essays of critical importance for emerging and developing economies: an analysis of fiscal positions in EMDEs and a deeper look at the type of firms most affected by post-crisis trade weakness. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces. Annotation The OECD Business and Finance Outlook is an annual publication that presents unique data and analysis that looks at what might affect and change, both favourably and unfavourably, tomorrow's world of business, finance and investment. Using analysis from a wide range of perspectives, this year's edition addresses some forces influencing economic developments that have contributed to recent surprises in elections and referendums. A common theme of these surprises has been voter discontent with globalisation and immigration that are perceived to be causes of unemployment and falling living standards for substantial segments of society in a number of OECD countries. This Outlook's focus is on ways to enhance "fairness," in the sense of strengthening global governance, to ensure a level playing field in trade, investment and corporate behaviour, through the setting and better enforcement of global standards. A brief review of important developments contributing to post-war globalisation is provided and a number of policy domains are covered. These include exchange rates and capital account management, financial regulation since the global financial crisis, the rising weight of state-owned enterprises in the world economy, competition policy to deal with international cartels, the cost of raising capital, responsible business conduct and bribery and corruption UPDATED FOREWORD BY GISELA STUART AND UPDATED AFTERWORD BY JACOB REES-MOGG On 23 June 2016, in the biggest ever vote in British history, 17.4 million people chose to leave the EU. So what does the future now hold after this momentous decision? What will life be like in Britain after we end our European marriage? Will Brexit precipitate the doom and gloom that many predict? Drawing on years of experience at the cutting edge of economic, business and policy issues, plus extensive discussions with leading politicians and diplomats across the UK, Europe and the world, Clean Brexit answers these questions and more. Authors and economists Liam Halligan and Gerard Lyons believe great days lie ahead. Brexit is an opportunity to strike deals with the world's fastest-growing economies, boosting British trade and job prospects. Freed from the EU's regulatory stranglehold, the UK can thrive, spreading wealth throughout the whole of the country. Directly elected MPs will once again have the final say over our laws, borders, taxes and trade negotiations. Important, balanced and accessible, Clean Brexit is the ultimate guide to making a success of Britain's divorce from the EU and a source of strength for voters elsewhere in Europe who have long demanded EU reform, but have been rebuffed. "In this optimistic and inclusive guide, Sunday Telegraph columnist Liam Halligan and renowned economic forecaster Gerard Lyons cut through the complexity and spin to offer a vision of how Britain, and the world, can make a great success of Brexit. 'We are linked to Europe, but not combined, ' wrote Winston Churchill in 1930. To Halligan and Lyons, that sentiment rings true. And if the Article 50 negotiations go well, Clean Brexit argues, the UK could become an inspiration, a source of strength for voters elsewhere in Europe who have long demanded EU reform, but been rebuffed. From manufacturing, fishing, banking, universities, travel, immigration, Scottish independence and the spectre of renewed tension between Northern Ireland and the Irish Republic, to ongoing trade and good relations with our EU neighbours and the rest of the world, Clean Brexit provides answers to the questions hanging over all these issues, and many more. Unashamedly optimistic about Britain's future, Clean Brexit draws on extensive discussions with leading politicians and diplomats across the UK, Europe and the world to argue that leaving the EU provides an opportunity for the UK to re-invent its economy, while reclaiming our place as a premier global trading nation"--Publisher description "In this optimistic and inclusive guide, Sunday Telegraph columnist Liam Halligan and renowned economic forecaster Gerard Lyons cut through the complexity and spin to offer a vision of how Britain, and the world, can make a great success of Brexit. 'We are linked to Europe, but not combined,' wrote Winston Churchill in 1930. To Halligan and Lyons, that sentiment rings true. And if the Article 50 negotiations go well, Clean Brexit argues, the UK could become an inspiration, a source of strength for voters elsewhere in Europe who have long demanded EU reform, but been rebuffed. From manufacturing, fishing, banking, universities, travel, immigration, Scottish independence and the spectre of renewed tension between Northern Ireland and the Irish Republic, to ongoing trade and good relations with our EU neighbours and the rest of the world, Clean Brexit provides answers to the questions hanging over all these issues, and many more.Unashamedly optimistic about Britain's future, Clean Brexit draws on extensive discussions with leading politicians and diplomats across the UK, Europe and the world to argue that leaving the EU provides an opportunity for the UK to re-invent its economy, while reclaiming our place as a premier global trading nation"-- Publisher description

Global activity is firming broadly as expected. Manufacturing and trade are picking up, confidence is improving, and international financing conditions remain benign. Global growth is projected to strengthen in 2018-19, in line with January forecasts. In emerging market and developing economies (EMDEs), growth is predicted to recover in 2017-19, as obstacles to growth in commodity exporters diminish amid moderately rising commodity prices, and activity in commodity importers remains robust. Risks to the global outlook remain tilted to the downside. These include increased trade protectionism; elevated economic policy uncertainty; the possibility of financial market disruptions; and, over the longer term, weaker potential growth. A policy priority for EMDEs is to rebuild monetary and fiscal space that could be drawn on were such risks to materialize. Over the longer term, structural policies that support investment and trade are critical to boost EMDE productivity and potential growth.

Global outlook : a fragile recovery -- Special focus 1 : Debt dynamics in emerging market and developing economies : time to act? -- Special focus 2 : Arm's-length trade : a source of post-crisis trade weakness -- Regional outlooks.