Economic Implications of Brexit for the UK and selected non-EU state

Background Context of Brexit and Uncertainty

Critically analyse the economic impact of ‘Brexit’ (Britain’s exit from the EU). Brexit means that the UK will be breaking away from its main trading partner; The European Union, and will therefore no longer benefit from the free trade deals within this trading bloc. Although this is causing much uncertainty and disruption, there could potentially be the opportunity for the UK to negotiate new or revised economic partnership agreements (EPA) or trade deals with those outside of the EU. Using the UK and one non-EU member state from the list below, discuss the economic implications of Brexit for these two countries, including: trade relations, FDI inflows and outflows, as well as each country’s forecasts, to assess the economic activity for these two countries as a result of Brexit.

Select one of these non-EU member states listed below to discuss alongside the UK in your essay. All of the countries below have signed trade deals with the UK, which will come into effect after Brexit:

?South Korea (signed trade deal with UK on 22nd August 2019). In 2018, total trade between the UK and South Korea was worth £14.6bn
?Norway (signed trade deal with UK on 2nd April 2019). Total trade between the UK and Norway was worth £30bn in 2017.
?Israel (signed trade deal with UK on 18th February 2019) According to the ONS, total trade between the UK and Israel was worth £3.9bn in 2017.
?Switzerland (signed 11 February 2019) Trade between the UK and Switzerland was worth £32.1bn in 2017.

?Brief background context- what is Brexit and the uncertainty it has caused?
?How will Brexit affect the UK and the other country you have chosen to discuss? What are the terms of their trade agreement and how does this benefit each economy?
?What are the countries roles in the world economy?
?Foreign Direct Investment (FDI) trends and foreign value-added activities (drawing on relevant frameworks such as the OLI paradigm).
?Application of appropriate economic trade theory – such as absolute and comparative advantage
?The inclusion of relevant company or industry examples to further illustrate the points being made
?Any other relevant considerations, such as the anti-globalization critique or cultural implications, which are of particular relevance for the two counties?

?Demonstrate a critical understanding of a range of theories of international production 
?An ability to apply a number of perspectives in your critical evaluation of implications
?Evidence of extensive reading
?An ability to structure a coherent, critical argument
?Accurate use of the Harvard Referencing system.