BREXIT: Preconditions, Consequences, Interests and the Main Vectors of Interstate Relations of Great Britain in the Sphere of Trade
Shkurupii O. V., Svitlychna A. V., Zahrebelna I. L., Svitlychna O. A.

Shkurupii, Olha V. et al. (2022) “BREXIT: Preconditions, Consequences, Interests and the Main Vectors of Interstate Relations of Great Britain in the Sphere of Trade.” The Problems of Economy 3:12–19.
https://doi.org/10.32983/2222-0712-2022-3-12-19

Section: World economy and international relations

UDC 327.339.5

Abstract:
The carried out analysis reflects the essence and course of the Brexit process. In terms of essence, the Great Britain’s exit from the EU should be considered a complex transformational process, which in a real form reproduces the model of structural changes occurring within the framework of a non-balanced open system (dissipative structure). Such a conceptual approach to the interpretation of this process allows us to specify the definition of Brexit as a solution to the intra-system contradiction that has formed within the most complex form of integration, which is the European Union. With the transformation (transformation of the form) and structural changes occurring along this process, a new quality of the basic system together with the separated former elements of this system, which have acquired the status of independent integral system units, is formed. In the future, the dynamics may take the form of either progress or regression. Accordingly, Brexit as a result of the transformation of the economic and political union of European countries is fraught with risks for both sides – as for Great Britain, so for the EU. The economic system of Great Britain is one of the largest and most productive in Europe and the world. Therefore, Brexit has significantly weakened the EU economy, but has not caused a critical deterioration in its condition. Similarly, the Great Britain’s loss of the EU membership, which the country had since 1973, had hindered the possibilities of growth, but did not cause a devastating change in the economy. The situation in the sphere of international trade appears to be similar. For Great Britain, the Brexit transition period has become extremely difficult, as it largely coincided with the protracted period of the COVID-19 pandemic. As a response to the challenges facing the country after Brexit, Great Britain is implementing a model of interstate relations aimed at preserving the partnerships acquired during the period of the EU membership and at the same time forming new ones, being no less effective. Within the limits of this model, the most likely format of equally close economic (including trade) relations «countries of Europe – Great Britain – the USA» will be formed. Trade relations with China remain mutually beneficial for Great Britain, although their context has become significantly politically determined, given the divergence of the interests of the USA and China and the Great Britain’s loss of the role of a conductor of Chinese interests in the EU. Great prospects are opened to Great Britain by the direction of Indo- and Asia-Pacific cooperation, which involves developing relations with countries, the vast majority of which are participants in the Regional Comprehensive Economic Partnership (RCEP).

Keywords: Brexit, relationship models, trade relations, Great Britain, the EU.

Fig.: 1. Tabl.: 2. Bibl.: 20.

Shkurupii Olha V. – Doctor of Sciences (Economics), Professor, Professor, Department of Economics and International Economic Relations, Poltava State Agrarian University (13 Skovorody Str., Poltava, 36003, Ukraine)
Email: olha.shkurupii@pdaa.edu.ua
Svitlychna Alla V. – Candidate of Sciences (Economics), Associate Professor, Director, Educational and Scientific Institute of Economics, Management, Law and Information Technologies, Poltava State Agrarian University (13 Skovorody Str., Poltava, 36003, Ukraine)
Email: alla.svitlychna@pdaa.edu.ua
Zahrebelna Iryna L. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economics and International Economic Relations, Poltava State Agrarian University (13 Skovorody Str., Poltava, 36003, Ukraine)
Email: iruna.zagrebelna@pdaa.edu.ua
Svitlychna Olha A. – Student, Educational and Scientific Institute of International Relations, Taras Shevchenko National University of Kyiv (60 Volodymyrska Str., Kyiv, 01033, Ukraine)
Email: oljasvitlychna@gmail.com

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