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In a previous blog post, we discussed how the U.S. election will affect the German labor market. In this piece, we will discuss the effects of a Trump presidency on the U.K. Ironically, British deindustrialization, once seen as a major weakness that has negatively affected economic development in certain regions, might now be a relative advantage. As the U.K. has become a service-exporting superpower, its economy might be relatively unaffected from Trump’s tariffs.
Stagnant but with upside potential?
The U.K. economy has faced various headwinds over the last couple of decades. Austerity in the aftermath of the financial crisis was