5 years on from EU-UK Trade and Cooperation Agreement, trade hasn’t recovered. New research shows UK-to-EU exports are down 54% in variety, even as values fell less. Trade has survived mainly where firms are locked into existing supply chains. 🔗 www.productivity.ac.uk/research/sup...
Supply Chain Lock-in and the Selective Destruction of EU–UK Trade - The Productivity Institute
Post-Brexit trade only survives where companies were already "locked in" to each other through complex, shared manufacturing processes. But smaller, simpler trade relationships are being systematicall...
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