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Contemporary Business Environment

   

Added on  2021-02-20

8 Pages2457 Words78 Views
Contemporary businessenvironment
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Table of ContentsINTRODUCTION................................................................................................................................3CONCLUSION....................................................................................................................................7REFERENCES.....................................................................................................................................8
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INTRODUCTIONBrexit is the abbreviation of Britain & exit where Britain is separated from European union. Thisterm was given by Lawyer Peter Wilding. This report gives the brief description of Brexit, currentposition of Brexit, various obstacles faced by Brexit, effects, consequences, future of Brexit.Moreover, this report also addresses the Import industry UK and Brexit, the various advantages &disadvantages of Brexit and Impact of Brexit on industries (Colantone and Stanig, 2018).Debate of BrexitThe combination of Britain & exit can be termed as Brexit. This term was formulated in order toseparate Britain from European union. This separation was wanted by Britain to change itsrelationship of trade unions, migration & security. People who are against Brexit were DavidCameron, Barack Obama etc. while those who were in favour of Brexit are Boris Johnson. Britainhas been debating on cons & pro of membership in EU since the idea of Brexit was found. The firstvoting was on membership in 1975 was held in European Economic Community, just 3 years after67% voters supports stay in bloc. Britain public voted on June 23, 2016 & however, even notproperly defined Brexit won by 52% votes (Clarke, Goodwin and Whiteley, 2017). This did notsettle the debate yet still after the 3 years and thus, the debate still remain unanswered.Position of BrexitUK wants to leave EU after 46 years of British membership. EU is political & economic partnershipof 28 countries. On last Thursday EU & UK announced an agreement on revised exit deal. Thenorthern Ireland & envisages a clear separation of United kingdom with European Union which wasstuck by Theresa May. This deal was altered by previous negotiated arrangement. On Saturdaysession, United Kingdom might crash out of European union a without deal was concerned by UKhouse of commons which has given vote to delay approve of agreement till legislation is necessaryto implement. For preventing no deal on Britain exit from European union, this forces the PM toseek delay, this force came to be known as Benn Act. Define Brexit.The combination of “Britain” & “exit” is abbreviated as Brexit. Lawyer Peter Wilding derived thisword 4 year ago the decision to vote for United Kingdom to separate or leave European Union held.The European union is the combination of 52 countries which were bound together after the worldwar second, to facilitate trade, migration, import & export within the countries under EU.Obstacles of BrexitBackstop 'bridge' UK wideIt was opposed by European Union. UK's proposal to avoid hard border between republic of Ireland& northern Ireland is a bridge. For temporary customs' arrangement 'bridge' was the term used byofficials.
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