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Old 13.11.2019, 18:01
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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Pioneering future tech (or lack of) is one of the main reason I voted for Brexit. Take the politics away and look at the EU and youíll see itís hopelessly ill-prepared for whatís coming. Look at the largest companies in the EU, theyíre either banks or insurance companies, car manufacturers or oil and gas firms. Dinosaurs from a bygone age. Thereís no tech giants like Google, Facebook or Samsung.

Like the last days of the Roman Empire, the EU is living on its past glories and wonít be able to adapt to whatís coming. Thereís a demographic time bomb thatís already gone off. Whilst the EUís population gets old and decrepit, the likes of countries youíve barely heard of will soon become economic power houses. Countries like Indonesia, Nigeria and Uganda will have populations that will dwarf Europe. And with higher populations comes higher economic output and growth. Its already happened in China and India, and itís going to happen across the developing world soon too.

Meanwhile the EU thinks it can battle this tidal wave by stifling competition (level playing field) and by erecting barriers to trade. This is compounded by the EUís addiction to welfare spending (it was Angela Merkel who observed the EU makes up 7% of the worlds population, 25% of its GDP and over half of its welfare spending). In spite of this recognition, nothing has been done to change matters. The single biggest cost of the EU is still the CAP which shows no sign of going away because French farmers refuse to innovate.

Economically speaking, I donít think long term Brexit will make a big difference one way or the other. The biggest advantage I see, and the main reason I voted for Brexit, is it will give the UK the flexibility to act on whatís going to take place in the next 50 years.
This may as well begin with "Once upon a time" ...
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