Brexit Doesn’t Blow Sino-UK Relationship Off Course as “Golden Era” Stays Strong
A week-long trip to an idyllic, snowy ski-resort high up in the Swiss Alps must have sounded like the perfect winter getaway for British prime minister Theresa May. Unfortunately for her, instead of attending the World Economic Forum’s Annual Meeting, she remained in London, as she and her cabinet attempted to steady the good-ship Brexit, which has been blown widely off course over the last month. Recent events in Parliament have given Mrs May a mandate to return to Brussels and attempt to renegotiate issues over the Irish-backstop, which has become a red line issue for many Brexiteers (pro-Brexit voters). However, Members of Parliament (MPs) still failed to drop the controversial and potentially dangerous ‘no-deal’ scenario, which has led to many businesses re-positioning themselves away from Britain. Last week, Jaguar Land Rover have announced plans to slash 4,500 jobs worldwide, mostly in the UK and Ford have decided to restructure their 54,000-strong European workforce, partially as a result of Brexit, creating insecurity for its 13,000 UK-based workers. This follows cruise-ship company P&O Ferries, music giant Sony, fellow car manufacturer Bentley and electronics company Dyson, who all announced plans to either move headquarters or re-register away from the UK, the latter to Singapore. With the March 2019 deadline looming, thick black clouds are circling over Mrs May, who is quickly running […]
STAFF REPORTERS ECONOMY WATCH Economy Jan 30, 2019