Russell Brown Asked About China’s Trade Deal Amid Brexit Extension
China Daily’s article China trade deal questions asked amid Brexit extension explores the future of a China-UK trade deal as Brexit remained then still uncertain. To help understand what the future for the UK and its relations with China might be experts, with many years of experience working in both countries with different levels of involvement in their economic development, had been asked their opinions. One of those experts was LehmanBrown’s Managing Partner, Russell Brown OBE.
Of course, the expert’s opinions were divisive between them as they presented their views coming from their many years of involvement in their respective fields and doing business with both China and the UK. Some agreed that there would not be any significate change on whether the UK left the EU or not. The UK has had nothing to stop it from doing business with China, and when negotiating in future for better deals, it might find its self at a disadvantage due to its size. The UK is a small trading partner and not as important to China as Australia, Vietnam, South Korea or Malaysia. Any deal made between the two countries cannot be particularly preferential as China would then be pressured to providing the benefits to it’s major trading partners like America and the EU.
The more optimistic experts shared their belief that there is an opportunity to be had, China is the UK’s sixth-largest exporter with enormous possibilities to expand trade wise in the service sector. As China gradually opens its financial market in the years to come, there will be more investment coming into the world’s second-largest economy bringing with it new opportunities. It will not be plain sailing for UK business wanting to take advantage of such a possible future, as China often has hurdles for foreign companies to overcome. Such difficulties may deter UK business and have them bring their services to historic trade partners like India, which is also an emerging market or use that option to bargain with China.
Either way independently of what the arguments in favour or against the UK’s trade deal with China after Brexit, Russell Brown OBE shared: “The UK has a great opportunity upon leaving to focus on its strengths in its relationships with other countries around the world, and in particular China.”
China has plenty of opportunities for all kinds of business, whether it be services or not, and LehmanBrown has independently assisted UK business to establish themselves in China for about two decades. In an economy as big and lucrative as China there will always be plenty of deals for UK Business.
Read the full China Daily Article Here:
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