2016年8月15日月曜日

Book review: well thought out analysis on Brexit

The book entitled "The Trouble with Europe: Why the EU isn't Working, How it Can be Reformed, What Could Take Its Place" is one of the most fascinating books I’ve ever read. Scrutinizing various aspects of the European, UK and world economy, former HSBC chief economist Roger Bootle’s incisive main talking points include:

-        Originally created in response to the West vs. communism conflict, the EU is inherently outdated today.
-        Undemocratic decision-making process and egalitarianism prevent a capable country like the UK from being competitive.
-        Non-EU countries like China and USA have enjoyed better economic performance than EU in the last few decades. EU membership is an obstacle to make beneficial individual FTAs with them.
-        Aiming for “an ever closer union” within Europe as written in the Treaty of Rome is therefore a recipe for destruction.
-        In the digital era, the idea of regional unification is getting pointless. Dynamic agreements should be made among nations of the same level of development beyond geographic distance.
-        History tells us that idealistic intellectuals have often grossly misunderstood the world. Look at those who believed in communism and the Soviet Union.