The ins and outs of the Single Market

One of the most critical issues for the Brexit negotiations in relation to trade is whether the UK should remain in the EU Single Market. The Conservatives claim that the UK will no longer be members of its single market or its customs union by the end of a two-year transitional period, but at his party’s conference, Jeremy Corbyn said a Labour government would strike a deal with the EU that "guarantees unimpeded access to the single market" after Brexit.
The UK Trade Policy Observatory at the University of Sussex (UKTPO) has produced this short, animated video that explains what the Single Market is, how it works and the ways it effects trade, and thereby the economy. Ultimately, the video explains that there is a trade-off between making your laws independently and cooperating sufficiently to be a part of a bigger market and achieve higher incomes.

[@burakayan3360]

hey guys ! is it possible for turkey to join single market ? just like norway ?

[@nousername-zs3yh]

no

[@joshuastory7265]

Pog champ

[@markheeley3279]

Ah yes, but when one member state is not happy with those rules, then what? They must abide by them regardless because the majority has pushed them through... so the pooled sovereignty concept is flawed... especially as mutual recognition is supposed to be the standard by which countries trade and not regulatory uniformity. This is the principle flaw in the EU as a concept anyway. The purpose of the EU (as understood by the UK) is that each member must accept other members' regulatory rules on trust and therefore allow free movement of goods and services. But protectionist countries have seen this as a competitive threat and voted for increased regulation to protect their industries. So the EU has become a set of traffic lights for standardised regulations (disguised as four freedoms), rather than a roundabout of mutually acceptable freedoms. The EU is therefore set up to be less diverse because of these rules, leading to the conclusion that the EU is more of a 'cartel' than a cooperative trading bloc between nations....

[@JohnyTuga]

Well, pretty much every western country works like this. If one "state" doesn't like the the rules the majority of the Union voted for, then how does that make it unfair? Imagine if the whole UK decided that oranges coming from the US were going to be taxed 10% more, but Wales decided the opposite. Is that a flaw in the UK as a country? No. If every region in the UK could have whatever they voted for, then that region might as well be their own country. This can go even deeper. Imagine now that in Wales, 40% wanted more taxes on the oranges, but the rest wanted less taxes. In this situation do you make every person tax the oranges as they want, to please everyone? That has a name. It's called Anarchy. You could make the argument that the UK didn't want to be apart of the EU because of sovereign reasons, and that's fair enough. But saying that the single market is bad because it doesn't favor the countries who disagree with the majority, is like saying that democracy is bad because it undermines the voters in the minority. That's why it's called European UNION. Because when countries/states unite, cooperation and compromise are not just essential, but are the rules for avoiding the collapse of whichever union/country we mention.

[@markheeley3279]

Johny, thanks for engaging (never debated on YT before...!). Ah yes, but this is the whole point of Brexit. Membership of the EU discriminates in favour of provider capture, not consumer needs... Whereas, like the EU, you are assuming a protectionist philosophy, based on the belief that Wales might want to protect its industry and consumers through government bureaucracy rather than leave it to consumer choice. Perhaps you're right about western countries.... that's why the east is growing at a much faster rate....

[@battles423]

This hasn’t aged well

[@markheeley3279]

​@@battles423 Why?

[@battles423]

@@markheeley3279 if the EU is so bad then why did the UK join. And why do the UK continue to trade with the EU countries. And today some Tory party members are openly wanting to join the single market. Why would the UK sign any trade deals with any country. Just go full isolation. And leave the EU alone.

[@johnrawlins6147]

Yeah we don't want it mate

[@BlueIvory4]

lol

[@ardent.aardvark]

Twaddle.

[@andreasmc1]

Where’s Cyprus? and why is Albania white? please do your research properly

[@TheDailyGroov]

This video....No objectivity at all. How about lets discuss the disadvantages of these things? Lets discuss if the UK was free of such aspects how could it benefit and grow as a result?

[@ardent.aardvark]

Because this is a propaganda vid. They don't mention the free movement of people (labour) and the food scandals in the EU. Horse beef.

[@tribefilmstudios]

ideological piffle