BREXIT STRENGTHENS OUR DEFENCES AND OUR STANDING IN THE WORLD
Summary:
With Brexit, the UK has been able to realign with those markets projecting the highest growth over the coming decades, instead of being tied to a bloc projected to see a decline in relevance – with accession to the 11-nation CPTPP as an example of this Indo-Pacific tilt.
Explanation:
By leaving the EU, the limitations on UK alignment with the fastest growing part of the world, the Indo-Pacific, have been removed. By the EUs own admittance, the majority of global growth will be coming out of the Indo-Pacific in the coming decades, while the nations of the EU will collectively see a relative decline in importance on the world stage.
A government response to commentary on the Integrated Review, states that “Between 2021 and 2050, 54% of global growth and advances in key technologies are expected to come from the Indo-Pacific”. Even a NATO report states that “Economic figures speak by themselves”. The report goes on to say that “two thirds of the global wealth will be concentrated in the Indo-Pacific region within the next decades, which means that Western interests will dramatically increase”.
By joining the CPTPP, the UK takes an important geostrategic step in securing the rules-based trading approach enjoyed by most of the world, and secures a “seat at the table” for the many accessions to the CPTPP in the future – getting a vote and a veto on every one.
Reference: https://publications.parliament.uk/pa/cm5804/cmselect/cmfaff/630/report.html
Reference: https://www.act.nato.int/wp-content/uploads/2023/05/regional-perspectives-2022-07-v2-1.pdf