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Jakarta Post

After Brexit, an ASEAN−EU trade agreement?

Jakarta   /   Tue, March 21, 2017   /  01:52 pm
After Brexit, an ASEAN−EU trade agreement? EU Trade Commissioner Cecilia Malmstrom (right) prepares to speak at the University of International Business and Economics in Beijing July 11. (AP/Ng Han Guan)

After the wave of globalization following the end of World War II, a series of recent events suggest that the tide may well be turning. International trade as a proportion of global gross domestic product (GDP) has stopped growing in the last decade. The momentum for multilateral trade liberalization has stumbled and Doha seems to not be going anywhere (even though the Trade Facilitation Agreement only started to take effect on Feb. 22). Anti-globalization sentiment has also been growing in the European Union, a group of 28 countries in Europe, which forms a single market allowing for free movement of goods and people, uses a single currency (although the United Kingdom has its own British pound sterling) and applies a customs union. When the British voted to leave the EU last year, Theresa May replaced David Cameron as the prime minister of the UK. For her and her cabinet, &ldq...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.