Brexit and the Single Market
in The European Union after Brexit
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This chapter focuses on the Single Market, one of the key factors transforming the economic relationship between Britain and its European neighbors for the past 45 years. There are widespread concerns about the impact of Brexit on economic growth, current and future business strategies, and investment in the Single Market. The impact of regulatory entanglements across myriad policy areas is now coming under increased scrutiny, as the reality of an integrated economy with supply chains that highlight this trade and investment relationship is viewed through the lens of British political economy. Yet Brexit also provides a unique opportunity to scrutinize the impact of these entanglements on future European economic integration, because the effects may be felt in material or ideational terms, both for Britain as a third country, and for others that are highly integrated across different sectors and economies, and that depend on the market liberalization approach pushed by Britain. Rather than see the Single Market solely in terms of opportunity costs or benefits for Britain, it is worth considering the impact on other territories and markets.

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