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Looking at the Brexit Problem in the UK via Vegetable Basket, Manufacturing and Financial Industry

Source:Iris Liang Time:2019-1-14 10:10:40

The once-delayed "Brexit" agreement will be held in the lower house of the British Parliament on the 15th. Whether the agreement reached between the British government and the EU can be passed in Parliament will determine the final fate of Britain's "Brexit". The British economic community pays close attention to this and calls for avoiding “no agreement to leave the EU” and hopes to minimize the difficulties brought about by “Brexit”. The world economy is so unstable, but SEKO Machinery does not change its mind. As always, it provides all-new and old customers with excellent air-cooling internal pipe leveling machine to help customers improve the quality of stainless steel pipes and win customers' favor.

Vegetable basket: or facing "green yellow"
In the opinion of organic vegetable supplier Guy Watson, "Brexit" will have a serious impact on the British people's vegetable basket. “50% of the fruits and vegetables in the UK are imported, and the highest import volume is from January to April. The UK’s “de-success” at the end of March’s ‘green’, it’s hard to find a worse time.”

According to British media reports, the four major farmer associations in the United Kingdom have sent a letter to parliamentarians saying that “no agreement to leave the EU” will threaten consumers’ “safety, choice and affordability” of purchasing food, and require politicians to ensure that the public “has Eat rice."

The Royal Institute of International Affairs reported that at present, the UK food system only reserves 5 to 10 days of national demand, and there are fewer fresh food reserves. Once “Brexit”, the food industry needs to consider factors such as the extension of border inspection time.

Manufacturing: “Brexit” has three major risks

According to the annual survey of 242 British manufacturers by the UK Engineering Employers' Federation, 51% of respondents believe that there will be more risks in 2019, and the top three risks – customs delays, exchange rate risks, and cost increases – are "Brex" is related.

According to the report, “Brexit” is likely to become a long-term risk that UK manufacturers need to address. If the "Brexit" agreement is passed and the transitional arrangements are implemented between the UK and Europe, manufacturers will be able to continue trading with the EU in the manner before the "Brexit" and maintain a stable state for a period of time; but "no agreement to leave the EU" Leading to cargo backlogs and production delays.

The report says that many British manufacturers are planning to follow the worst. About a quarter of manufacturers are looking for new suppliers at home and abroad; more than 60% of companies are interested in picking up goods in advance, of which about 30% have increased inventories.

Financial industry: transferring employees and assets

According to the latest "Brexit" report released by Ernst & Young, financial services companies will continue to transfer employees and assets to the European continent due to uncertainties in the relationship between the UK and Europe.

The report said that since the UK "Brexit" referendum, 36% of UK financial services companies said they are considering or have confirmed that some of their businesses and employees will be transferred to continental Europe, and Dublin, Luxembourg, Frankfurt and Paris will be the main destinations for transfer.

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Iris Liang
SEKO Machinery & Technology Co., Ltd
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