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peterfoy

Russia just taught the UK an important lesson: trade is not simple

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On one level, trade ought to be the most simple thing in the world to understand. One farmer has a sheep, another a cow. Both want the other’s animals so they swap. Supply meets demand, everyone is happy.

 

Fast forward a few thousand years of human development, however, and it is not so easy. Russia has just offered up an important lesson in this by blocking the UK’s so-called tariff schedule at the World Trade Organisation. This highlights that the dynamics of global trade are far from simple and are growing more complex by the day.

:kappa:

 

Reference

https://www.telegraph.co.uk/business/2018/10/25/russia-just-taught-uk-important-lesson-trade-not-simple/

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Everything is getting so complicated

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