Yuan trade prospects good for Britain

Photograph of Brittania statue, taken 13th Jun...

Britannia on Plymouth Hoe

Hong Kong and England exchange would be good for future British prosperity as euro collapses

By PAUL QUIGLEY

ECM Plus +++ As Europe collapses under the strain of its top-heavy, over-debtedness and uber-bureaucratised idealism, the prospects for Britain are looking infinitely brighter in the light of recent exchange trade talks with the world’s second-largest economy, China.

Reports that the current British chancellor Osbourne is glad-handing the Chinese in the former British colony of Hong Kong comes as a welcome refrain for Britain’s social and economic prosperity, following the disintegration of the euro now taking place across the continent.

Ditching membership of the European Union will have to be a pre-requisite for this to maximise the benefits of such new opportunities. There will be no room for Frankfurt or the europhiles to meddle in the affairs of the new Sino-British hub.

Any potential interference by the EFSF will need to be further vetoed, in the wake of British prime minister Cameron’s recent veto of Europe’s ‘fiscal compact’ ploy for financial control of all sovereign nations’ tax-raising and financial budgeting. A ‘cast iron guarantee’ for a referendum of the British people will further play well to the British public, and guarantee an early exit from the Franco-German dominated European superstate. This could further resut in billions of pounds worth of new business direct to Britain from their Chines partners, once extricated from the over-bureaucratised regulatory red-tape of Europe’s financial malaise.

However, before such business can be achieved, a genuine root and branch overhaul of the entire systemic financial framework will be essential, to engender trust from the Chinese.

Current corporate governance forms, with all current mechanisms, would also require reform as this will further enable Chinese’s massive economic power and wealth to flow through to Britain’s industry and commerce, with the tradional expertise in managing major financial instruments currently untapped in Britain.

In a climate of total transparecny and accountability, and in accord with guidelines of good corporate governance and corporate social responsibility, such an exchange would see unemployment fall, job prospects rise and social cohesion repaired to previous levels seen during the dotcom boom of the mid-1990s.


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