As the United Kingdom is preparing to leave the European Union on December 31, the UK government is being urged to prioritise a trade tie with China.
Talking up the prospect of working with China, Sherard Cowper-Coles, the head of Public Affairs HSBC Holdings said, “It’s a huge relationship for both sides and we would be completely mad to decouple ourselves from the potential of China in the post-COVID.”
“Post-Brexit, Britain will have three large economic partners: the EU, where there’ll be more friction in the relationship; the U.S; and then the third largest by far, and the one with the biggest upside by far again will be China,” he added.
In past nine months, Prime Minister Boris Johnson had made several efforts in negotiating a trade deal with the EU but has faced serious prospects of leaving the bloc without one, which as a result will put more pressure on the UK to secure trade deals with other nations. And through this, China could prove to be a major market for the UK businesses.