Latest Issue

Who’s afraid of the WTO?

A no deal Brexit outcome would provide more freedom than we have currently

By Ruth Lea   October 2018

Arch-Leavers Jacob Rees-Mogg and Bernard Jenkin. Photo: Stefan Rousseau/PA Wire/PA Images

The global economy has changed almost beyond recognition in recent decades and I have little doubt that the transformation will continue. According to the International Monetary Fund, the 28 countries currently part of the European Union accounted for 34 per cent of world output in 1980, but this had fallen to less than 22 per cent by 2017 and will almost certainly continue falling.

Europe’s dwindling share of global trade has come to be mirrored in the pattern…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect