Brexit and the Opportunities for a Deeper Anglo-American Alliance

Great Britain has not run a trade surplus in physical goods since 1821 – yet the past 200 years have seen a 30-fold improvement in its living standards. The secret of Britain’s success was that it dropped its own trade barriers and bought cheaply. It turned out that trading with poorer countries did not undercut British workers. On the contrary, it gave them more spending power, and so created an array of new industries.