The Real Losers from the Brexit Writing Assignment

The Real Losers from the Brexit
Student’s Name
Institutional Affiliation
Introduction
The term “Brexit” has dominated mainstream media several years, after Britain decided to exit the European Union in June 2016. Scholars have discussed the impact of Brexit from the focal point and international point of view, but their studies have taken a general view of the issue. While it is true that at least everyone exposed to international media is expected to have had some understanding about the factors for Brexit and its intended consequences, little research has been done to explore the real losers of Brexit. One of the primary concerns and assertion has been that the UK will suffer significant adverse economic consequences, but scholars have not delved into providing the magnitude of the impact and the intended consequences from the local level.
In the process of understanding the impact of Brexit on Britain’s economy, it is important to take into consideration the real victims and losers from the exit. Initially, the proponents of the Brexit argued that the exit would secure the UK jobs and save the country from the millions of immigrants that steal jobs from Britain. According to the European Movement International (EMI) (2019), Britain is more dependent on the EU than the vice versa, with the UK’s GDP sustained by 12.6 % of the exports to the EU. The EU, on the other hand, contributes 3.1 % to the UK’s GDP. Additionally, EMI (2016) explains that the EU covers sixty percent of the UK's trade and partnership memberships. Guzel (2019) explains that the UK is a sustained by the service industry, with the eighty percent of the GDP sustained by the service sector and thirty-six percent of the output from the service industry exported to the EU. This begs the question of how the UK economy will fair outside the UK, and the real losers if the deal goes through. As a result, this study thrives on the research question: Who are the real losers from the Brexit?
Study Objectives
In an attempt to respond to the above research question, this study will thrive on the following study objectives.
To find out the economic impact of the Brexit
To find out the main parties to be impacted when the No-deal Brexit goes through
To determine the economic significance that the UK derives from its EU membership
The significance of the Study
This study has a practical significance for the UK business sector and global scholars at large. One has to understand that the history of the UK membership to the EU, what the UK has achieved, and the future of the country’s economy in case the exit go through. Economists and business people will significantly benefit from the exploration of this research question as it seeks to answer a crucial aspect of the future of the UK and what they have to anticipate from the exit. The question has a practical significance to the opponents of the Brexit, considering that the deal is not supported by a hundred percent of the UK population. A practical area of significance is how the business people in the UK could prepare in the waking wave of this uncertainty and the future crisis that is likely to emanate if the deal goes through. Considering that the UK is...