The departure of the United Kingdom from EU resulted in grave consequences to the British economy, such as fall in stocks and devaluation of the British currency. Flavio Maluf, an accomplished finance specialist, predicted that this exit would result in global economic changes. These changes include
Changes to the British economy
Based on the 2014 European Union reports, the United Kingdom spent more than it received and this is what prompted its exit from EU. According to Maluf, this decision by the UK will result in decreased investments. This exit will also pose challenges to the free transit of people and goods across member countries.
Consequences for foreign trade in Europe
Members of the EU are afforded customs union that allows affordable tariffs on products. The exit of the bloc threatens theses duties, and the United Kingdom will charge new rates. However, specialist Otto Nogami claims that this exit may also prove beneficial since the UK will now be able to sign fresh bilateral agreements.
Effects of UK’s exit to Brazilian exports and imports
Brazil is likely to benefit since it will be eligible to enter into bilateral agreements with other European nations. This country will also benefit from reduced rates although the extent of this advantage is limited based on the reports by New York University senior manager.
Consequences on the European Union
Some members of the European Union will be affected by this exit. One of the countries that have begun demonstrating economic fatigue is France. Maluf added that it is hard to predict what will happen to the union as well as the member countries.
A closer look at Flavio Maluf’s role at Eucatex Group
Flavio Maluf is the current M.D. of Eucatex Group. Maluf is a native of Brazil and a graduate of FAAP where he did his mechanical engineering course. Maluf initiated his career at Eucatex Group in 1987 and rose above ranks to become the chairman of the company.
Under Maluf’s insightful management, Eucatex Group has been able to launch branches across Brazil as well as expand its business to more than 37 countries across the globe. In 2010, he facilitated the opening of the Industrial Plant in Salto. Eucatex Group is responsible for the production of Thin High- Density and Medium Density Fiberboards.