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So, Britain has a trade deficit - so a revaluation at a lower level should be a corrective. In many ways, it's been a long time coming. But I'm not so positive on the effects as you are. Britain's manufacturing output, the thing it's most likely able to export when it leaves the EU, has a large imported component in other materials, and the transaction costs there will be higher not just because of lower sterling. Since Britain hasn't been able to compete effectively in manufacturing with Germany while in the EU, I find it hard to believe they'll be able to compete with China when they're out in the same seas. So I don't see a resurgence in manufacturing. Honestly, when you buy something, is British a sign of quality? For me, not in food, not in durable goods, not in almost anything. And Britain's main export is services, which it doesn't have much in the way of trade agreements by default. So that gets screwed by Brexit too. Personally, if Brexit goes through, I'll be leaving the country. I'm Irish living in London, and while I'll probably have working rights grandfathered in (the same way I can vote in national elections, from the history of our two countries), my 3 year plan is geared towards leaving. I'm still only 60% sure Brexit means Brexit, though. |