The socio-economic impact of Brexit on India, Pakistan and Sri Lanka in times of Corona

Dirk Kohnert

MPRA Paper from University Library of Munich, Germany

Abstract: Following the Brexit, London endorsed a CANZUK union with its former white settler colonies, Canada, Australia and New Zealand. This was meant as valuable alternative to replace lost EU-market access. In contrast, non-white former British dominions – whether big (like India, Pakistan) or small (like Sri Lanka) were left on their own. The Indian Government perceived the Brexit vote initially as rather unfortunate because it would increase global instability and a weakening of the West. Indian multinationals like ‘Tata’, however, which had invested heavily in Britain as their gateway to Europe, saw Brexit as economic risk. Later-on, New Delhi realised also eventual policy advantages in Britain leaving the EU. The Brexit impact on Pakistan’s economy remained low so far. However, Islamabad would be well adviced to formulate separate policies for post Brexit Britain and the remaining EU-27. Sri Lanka’s economic and political ties with the UK, on the other hand, are considerably stronger than with any EU country. Annual trade with the UK amounted to over 10 %. Therefore, Brexit impacted negatively on the Sri Lankan economy. Changes to strengthen economic relations with the UK to overcome post Brexit challenges were imperative. As for the COVID-19 pandemic, it soon became in all three countries not just a health emergency but also a social and economic crisis.

Keywords: Brexit; COVID-19-pandemic; Corona; economic growth; India; Pakistan; Sri Lanka; United Kingdom; international trade; free trade area; customs union; Anglosphere; Asian Studies (search for similar items in EconPapers)
JEL-codes: F13 F15 F22 F52 F68 I14 N15 N40 O24 O53 Z13 (search for similar items in EconPapers)
Date: 2012-07-16
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https://mpra.ub.uni-muenchen.de/108860/1/MPRA_paper_108860.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/108870/1/MPRA_paper_108870.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/108875/1/MPRA_paper_108875.pdf revised version (application/pdf)

Related works:
Working Paper: The socio-economic impact of Brexit on India, Pakistan and Sri Lanka in times of Corona (2012)
Working Paper: The socio-economic impact of Brexit on India, Pakistan and Sri Lanka in times of Corona (2012)
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