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Disadvantages Of Brexit

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What is Brexit? Brexit is the shorten way of referring to two words which are “British” and “Exit”. The situation that British exited from European Union. So, what is European Union? According to (Hunt,A. & Wheeler,B. 2016) The European Union - often known as the EU - is an economic and political partnership involving 28 European countries. The EU has a single market which is the agreement between the countries’ member in EU to allow goods, service, money or even people to move freely within the EU. The Single market was to create job employment, increase the trade and lower the prices. Even though, the European Union has many advantages but why British wanted to leave the Union? Because there are some disadvantages that had made British …show more content…

First, the immigration issue, according to (Rosenfeld,E. 2016) some Brits worry that the country's employment market and social services will drown under the weight of too many new residents. Also according to (Hunt,A. & Wheeler,B. 2016) Prime Minister Theresa May has said one of the main messages she has taken from the Leave vote is that the British people want to see a reduction in immigration. Why do the British people have to worry? Because the net number of the immigrants to the United Kingdom is 330,000 a year and 55.7% of the figure is the EU citizens, the other 44.2% of the immigrants are from outside the EU. These numbers have made the British feel that their jobs have been taking away by the immigrants due to (Taub,A. 2016.) many of immigrants are willing to work at the lower wages. The second issue is the sovereignty. Some of British people wanted Britain to get the fully control of their country back, so they could limited or reduced the number of the immigrants who come to work and live in their country. So, no more free movement. Also the British are feeling that their country was being held back by the many rules and regulations of the EU. Due to the (Hunt,A. & Wheeler,B. 2016), the UK is one of the 10 member states who pay more in EU budget that they get out. So the vote leave camp want to make the use of those money for their country more than …show more content…

So after the result of the referendum had been out, the first affect is the pound had fallen sharply, according to (Taub,A. 2016.) the pound is at its lowest valuation in seven years. Due to the (Hunt,A. & Wheeler,B. 2016) uncertainty rushing around, a British exit will likely result in a massive rebalancing of currencies. Investors will (and have already begun to) dive out of the British pound and into cash that's perceived as safe — the Swiss franc, the Japanese yen, the U.S. dollar. The changing direction of the investor and the fallen of the pound has spiked the value of Yen which has made Japan’s export being less competitive. Even the fallen of the pound can help the export business and attract more tourism to the country ,which due to the (bbc no name) The travel analytics firm ForwardKeys says flight bookings to the UK rose 7.1% after the vote. The import business still have to pay more for the fuel and material due to the costs which have increased 7.6%. Moreover, since 51% of goods and 45% of services of the British’s export are taken over by the EU. Losing access to the EU single market would mean less trade and less productivity growth which could (Chu,B.2016.)make

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