Brexit Metaphor No 40
Brexit was supposed to free Great Britain from the shackles of a moribund EU and to "Make Britain Great Again".
Unfortunately this "Great Leap Forward" is turning out to be a "Leap in the Dark", at least according to the Bank of England, which is forecasting an 8% drop in GDP in case of Hard Brexit and a 30% drop in real-estate prices. China's original 1958-1962 Great Leap Forward led to a similar recession and to the destruction of 30-40% of the houses in the country (with one major difference: no mass casualties from starvation are expected in the UK this time).
Ironically, China performed these feats in an attempt to overtake Britain in industrial production in 15 years. Britain, in turn, is performing its own feat in an attempt to bring itself 15 years backwards. Will this leap in the dark become a leap towards the Dark Ages? Or merely a leap towards a new episode of the 1976 IMF bailout of the UK?
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| Leap in the dark (Source: Wikipedia) |
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Notes:
1. Timeline: This article is part of a daily #BrexitMetaphors series, with 121 more Brexit Metaphors to follow until Brexit day, March 29, 2019.
2. Disclosure: The author has a master's degree in European Integration.
3. Invitation: If you'd like to contribute to the debate, you are welcome to leave a comment below.
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