UK Economy News: Risk of recession is showing in October 2023
I do not like the decision of Brexit
Imagine this. You are a country right next to a big group of countries next to you. You are part of the group and trades between this group of countries are free flowing without any trade barriers. Of course for such a thing to happen, every country must follow a set of rules which are applied across all the countries within this group.
Now, one particular country within this group now says that it does not want to follow those rules and thereby exits the group. Tell me, now do you think the countries within the group would still treat this country which has left the same way when it was part of the group? More importantly, this country which has left, how would it continue to trade?
On its own term and perhaps with many new countries outside that group? Perhaps… That’s why this country is part of some trade blocs around the globe. Now let’s look at the economy performance of the UK.
Article in malaymail.com UK economy shrank in October, raising the risk of recession. The Office for National Statistics said UK gross domestic product contracted by 0.3 per cent in October, against forecasts for a no change.
Britain’s economy avoided a contraction in the July-to-September period — when it also showed no change — but some analysts think it remains at risk of a shallow recession in late 2023 and early 2024 after the BoE’s increases in interest rates.
Sterling was last down 0.3 per cent against the dollar at US$1.2526 (RM5.90), compared with a decline of 0.1 per cent in the euro and 0.2 per cent in the yen. Please do read the article in full here: Article in malaymail.com
I will still prefer the UK versus AU when it comes to tertiary education
If my children would be going overseas for their education, there is no question about the country. It may be the UK, it could be within Europe but it will not be to Australia. I would prefer for my children to have the experience of studying with people from all over the world and not just Asians. Diversity to me is always a strength and connection built will be an advantage too. Okay, plus the fact that I am also a UK graduate too. Haha. My university is University of the West of England, Bristol. If you are also an alumni, please say hi!
I still hope that perhaps there is a change and the UK may one day rejoin the European Union (EU). All the best.
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