Media

In the Media

CNN | Britain gambles on free trade deal with Europe

17 Jan 2017
|
Regions: 
EU/Eurozone,
UK

May says she wants the "freest possible trade in goods and services" between the two, but EU leaders have made it clear that Brexit Britain can't have the same access to markets it enjoyed as an EU member.

"Even if her negotiators do an extremely good job... there are going to be more barriers to trade," said Gregor Irwin, chief economist at the strategic advisory firm, Global Counsel.

Wall Street Journal | UK’s Brexit committee adds to pressure on Prime Minister May

13 Jan 2017
|
Regions: 
EU/Eurozone,
UK

Prime Minister Theresa May is coming under increasing pressure from lawmakers to provide more details on her vision for Britain’s exit from the European Union.

Stephen Adams, a partner at consultancy Global Counsel, said Mrs. May has been giving herself room to maneuver. “I don’t think that it’s very productive to try and read between the prime minister’s lines, partly because there’s so few of them, and there’s a risk of finding something there that isn’t there,” he said.

Bloomberg | Brexit Bulletin: 'Muddled Thinking'

4 Jan 2017
|
Regions: 
EU/Eurozone,
UK

Change Britain’s report Tuesday that the U.K. will gain £450 million each week and generate 400,00 new jobs if it leaves the single market and customs union came under immediate fire.

Simon Tilford of the Center for European Reform called the pressure group’s research “misleading and dishonest,” while Gregor Irwin of Global Counsel labelled it “flawed and incomplete.” Irwin said the research ignored the £1.4 billion paid to non-public sector organizations such as universities and the £0.8 billion of payments to the EU for development.

Al Jazeera English | India's growth prospects for 2017

24 Dec 2016
|
Regions: 
UK,
Asia

India's economy has sped ahead of the UK's's for the first time in over a century, due to the slump in the value of British sterling versus the US dollar. While global rankings are looking up for India, its people are suffering on the ground, because of Prime Minister Narendra Modi's controversial decision to demonitise the 500 and 1,000 rupee bank notes. Is this due to Brexit or is the Indian economy actually surpassing that of the UK's? And what does this mean for bilateral trade post-Brexit? Gregor Irwin, chief economist at Global Counsel, looks at the impact of these developments.

The Straits Times | China doesn't want firms to be 'ATMs' to enrich others

Author: 
13 Dec 2016
|
Region: 
Asia

China is about to take measures to curb the wave of foreign acquisitions by Chinese companies that has grown rapidly over the last 18 months.

Draft policy papers released online at the end of last month outlined a new policy whereby government approval would be required for foreign acquisitions valued at more than US$10 billion (S$14.3 billion), or US$1 billion if the target was considered to be outside the acquirer's core business.

New York Times | Tied to Europe, Britain’s car industry is vulnerable after ‘Brexit’

8 Dec 2016
|
Regions: 
EU/Eurozone,
UK

Britain’s automotive industry, once ailing and plagued by strikes, now hums with the vibrancy of a global manufacturing hub. But the level of integration, previously lauded, has made the carmakers especially vulnerable after Britain’s vote to leave the European Union.

“The car industry really did take the prospectus of the E.U. at face value,” said Stephen Adams, a partner at Global Counsel, a political risk firm in London. “It relies on the free circulation of goods in the E.U. not just to sell products but to make products.” 

WSJ CFO Journal | European firms lobby for higher duties on Chinese goods

6 Dec 2016
|
Regions: 
EU/Eurozone,
UK,
Asia

An upcoming World Trade Organization deadline is offering European steel producers and other manufacturers an opportunity to lobby for a framework that would allow for higher duties on Chinese goods.

Most likely, the EU will modify the lesser duty rule, resulting in higher duties on imports from China, said Stephen Adams, a partner at London-based consulting firm Global Counsel LLP.

Wall Street Journal | European companies with Chinese supply-chains brace for new anti-dumping framework

5 Dec 2016
|
Regions: 
EU/Eurozone,
Asia

On Dec. 11, the European Union could grant China “market economy status,” making it harder under WTO rules for the EU to protect its industries from what it deems as unfair trade practices by Beijing.

The effort poses risks for companies that have outsourced parts of their supply chain to China, according to Stephen Adams, a partner at Global Counsel LLP, a London-based consulting firm. “When you have outsourced…to China, you see duties as a cost factor and not as protection,” he said.

FT | Brexit negotiators identify UK’s trump cards

28 Nov 2016
|
Regions: 
EU/Eurozone,
UK

London is confident it has a strong hand — the question is how to use it. The calculations are like no other negotiation; even trade talks are a poor guide, as they typically involve willing partners aiming for future liberalisation.

“Brexit is a completely different dynamic,” said Stephen Adams of the Global Counsel advisory group. “You have an unwilling partner on the EU side. The aim is not hypothetical new market access but determining how far to roll back the liberalisation of billions of euros in trade that is already flowing.”

Al Jazeera English | The UK's JAM families and the cost of Brexit

26 Nov 2016
|
Regions: 
EU/Eurozone,
UK,
Asia

It's estimated that leaving the EU will cost Britain $280m a week over the next five years. In the first budget since Brexit, UK Finance Minister Philip Hammond downgraded his 2017 economic forecast and said the national debt would grow. In fact, it will balloon to above 90% of the UK's gross domestic product. That will wipe out any savings made from not having to pay into the EU's budget. Will the new budget help the so-called JAM families, those households "just about managing" to make ends meet? Gregor Irwin, chief economist at the Global Counsel, looks at the cost of Brexit.