In the News
Asked on 30 May 2019
Theresa May has been making headlines following the news of her departure as Britain's PM. I don't know about other Singaporeans but this paints a really uncertain future for me from Singapore's POV. What do you all think will happen after this? For Brexit & the EU? For the rest of Britain? And for the rest of the world?
No one knows. Just like no one will be able to predict what Donald Trump will do next.
Best thing is to control what we can control.
Diversify your investments.
Buy companies that fair price.
Buy companies with good fundamentals.
There‘s an article 50 petition that advocates the cancelling of Brexit which has attracted more than five million signatures. However, it’s unable to yield any impact since more than 17 million people voted for Brexit
so, one thing’s for sure. Theresa May’s successor will continue her work and negotiate with the EU for Brexit to happen. So, either a hard Brexit or no-deal exit will happen
given Theresa May’s sudden departure, the chances of a no-deal exit increases. There’s a comprehensive article in the Financial Times that analyses why a no-deal exit is probable (https://www.google.com.sg/amp/s/amp.ft.com/content/9b1ab5b6-7d66-11e9-81d2-f785092ab560)
given such volatile times in Britain and the EU, I‘m sure entrepreneurial well-endowed Chinese businessmen and investors will seize the opportunity to expand their business operations and purchase properties in this part of the world. if we refer to YouTube, there are already videos that depict how old-time Canadian residents lament the encroachment of Chinese businesses in their town and on their way of life. These businesses only hang Chinese signs outside their shops, effectively alienating the local people. I feel the same thing will happen in Britain 🇬🇧
My opinion is that a hard brexit is likely to play out. EU not likely to do any further negotiation and the Parliament will still likely be in a stalemate. Britain likely to suffer badly for the next few years until all the replacement policies/ trade agreements are in place. EU will also take a tough hit since there's quite a substantial hit in trading between Britain and the rest of EU. For the rest of the world, I'm not that sure of the trade effect.
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