Earlier quoted context omitted.
The gains that Germany and France will make in EU oriented financials services will pale in comparison to the loss of a major trading partner. Remember that the EU is becoming less and less important over time as a financial services market, even the UK's financial services sector has become less dependant on it over time. The juicier fruit is in the rest of the world. There's quite a lot of real trade between the EU…
"Remember that the EU is becoming less and less important over time as a financial services market, even the UK's financial services sector has become less dependant on it over time." Ah, no? "The juicier fruit is in the rest of the world." The world is limited. a) USA. Very little taxes in trade with the EU already. Little to gain with FTA. b) Canada? Okay, but the UK has this Free trade agreement (FTA) already via…
The UK is growing financial services exports in almost all of the markets you mentioned, so I don't really see what your point is there. [1]
Third - the UK is not 'leaving' European markets, they are changing the terms of trade. Goods and services will continue to flow.
(Thankfully, 'services' don't face the fundamental challenges that 'goods' do at the border outside of a customs union)
The UK already exports as much financial services to the US as it does to the entire EU [2] and the underlying impetus is fundamentally in the rest of the world.
Similar to your comment about Japan - the UK already exports quite a lot in financial services (3 billion pounds/year and growing).
" Also, trust me, the Chinese have not forgotten the Opium war" No, I don't trust you.
[1] https://colresearch.typepad.com/colresearch/2017/03/trends-a...
[2] https://colresearch.typepad.com/colresearch/2016/08/how-impo...