Tagged With trade

Shared from Gizmodo

0

At least there's one not-entirely-terrible side effect of last week's US presidential election result. Over the weekend, the Obama administration conceded that with the incoming Republican president-elect an avowed enemy of globalisation, it would effectively abandon the Trans-Pacific Partnership.

This is a free trade agreement between the US, Australia and 10 other Pacific Rim countries with a wide range of implications including making Aussie ISPs liable for the copyright infringement of their users, enforcing geo-blocking, and potentially raising the price of tech in this country. The upshot of all this is that internet pirates, VPN users and technology addicts can all rest a little easier.

Predicting the future is near impossible -- but that doesn‘t stop us all from having a red hot go. Human beings have been predicting the future since the beginning of history and the results range from the hilarious to the downright uncanny.

One thing all future predictions have in common: they‘re rooted in our current understanding of how the world works. It‘s difficult to escape that mindset. We have no idea how technology will evolve, so our ideas are connected to the technology of today.

2

Brexit already brings much economic damage to the UK, and will do so to global economic growth as a whole. The UK’s coveted AAA credit rating has now been downgraded by Standard & Poor’s; uncertainty is hitting sharemarkets; and the pound sterling is at a 31-year low. Impacts are not restricted to this. Australia has about 1500 UK-based companies as a "springboard" into the Single Market, using the UK due to close linguistic, institutional and historic linkages. Our best option right now is to form a trade pact with the EU. Here's why.