Economic Integration and International Trade-Theory “BREXIT”

For decades, the United Kingdom has had an ambivalent and sometimes contentious relationship with the European Union. London has kept its distance from Brussels’ authority by negotiating opt-outs from some of the EU’s central policies, including the common euro currency and the border-free Schengen area.

Advocates for a British exit, or “Brexit,” from the union argue that by reclaiming its national sovereignty, the UK can better manage immigration, free itself from onerous regulations, and spark more dynamic growth. Leaving the EU would carry major risks.

The UK would, among other things, face the possibility of losing preferential access to its largest trading partner and the disruption of its large financial sector. Meanwhile, a Brexit could accelerate nationalist movements across the continent, from Scotland to Hungary, with unpredictable consequences for the European project.

Write at least two pages paper in which you explain the history of European economic integration “EU” and the importance of international trade Include the following:

a. What is the history of the UK’s membership in the EU?
b. Why did UK want to change the terms of membership?
c. Should the United Kingdom remain a member of the European Union? Why?
d. What are the risks of leaving? How could a “Leave” vote affect the rest of Europe? Explain.