ECONOMIC STATE AND PROSPECTS OF INTERNATIONAL COOPERATION OF GREAT BRITAIN AFTER BREXIT

Abstract

Introduction. The onset of the migration crisis in Europe, triggered by the massive influx of refugee from the Middle East and Africa, escalated further due to the Russian-Ukrainian conflict. This complex scenario necessitates a reformulation of migration policies to align with evolving realities. The multifaceted nature of the crisis intertwines political, economic, and humanitarian dimensions, emphasizing the urgency for comprehensive policy adjustments. The aim of this article is twofold: first, to conduct an in-depth analysis of the United Kingdom’s economic landscape following Brexit; considering factors such as trade dynamics, investment patterns, and sectoral shifts. Second, it aims to evaluate the potential pathways for its international collaborations with diverse nations and regions across the globe, emphasizing the significance of forging new trade alliances and diplomatic partnerships in the evolving global context. Methods. Employing a comprehensive approach, this study utilizes analytical, synthetic, and comparative methods, drawing insights from normative regulations, academic research, and statistical data. By examining a wide array of economic indicators, trade patterns, and investment flows, the study provides a nuanced understanding of the post-Brexit economic challenges and opportunities. Results. The research underscores that the United Kingdom, post-Brexit, confronts substantial economic intricacies. On one hand, it can actively engage in renegotiating trade agreements with an array of partners and foster a dynamic regulatory environment. This dual approach holds the promise of cultivating enhanced economic autonomy and broadening avenues for growth. On the other hand, the relinquishment of privileges linked to EU membership might engender challenges in terms of adaptability. The need to diversify trade partnerships while managing potential disruptions remains a pivotal consideration. In conclusion, this study emphasizes the imperative of meticulous analysis and strategic economic planning to actualize effective economic sovereignty and facilitate sustainable advancement for the United Kingdom in the aftermath of Brexit. It calls for a balanced approach that harnesses new global opportunities while addressing domestic economic vulnerabilities. Practical implications. Policymakers in the United Kingdom can utilize the insights provided to shape effective economic strategies that navigate the challenges posed by Brexit. The analysis of potential pathways for international collaborations can guide the country’s diplomatic efforts and trade negotiations with other nations and regions. Businesses operating within the UK can gain valuable insights into the changing economic landscape, helping them adapt, innovate, and explore new markets. Investors and international partners can make informed decisions based on the assessed economic prospects, identifying areas of potential cooperation and growth. Originality and value. This article contributes to the existing body of knowledge by offering a comprehensive analysis of the economic landscape and international cooperation prospects of the United Kingdom post-Brexit. The integration of various research methods, normative regulations, and statistical data enhances the robustness of the study. The article’s originality lies in its dual focus on the economic state and the potential for international collaboration, providing a holistic view of the country’s post-Brexit prospects.