The low Sterling seems to be the cause of concern for many organisations, as well as the economy as a whole in Britain. Yet, this may just about work in Britain’s advantage to begin with.
How? Well, post the announcement of Brexit, there are nations, including Australia, who are keen to call for free trade deal post Britain’s EU exit. It has now emerged that China would also like to strike a free trade deal with the UK, and Chancellor Philip Hammond has started discussions regarding this deal with China. This deal could see more access for eminent Chinese businesses and banks to the British economy.
It seems like the Chinese, who are one of Britain’s largest inward investors, are particular interested in investing in properties in the UK. According to CBRE, UK is the most popular place in Europe for Chinese investors to buy properties. One of the main reasons for Chinese buyers to invest in properties in the UK is for British universities and other educational establishments. Most buy apartments for their children who would travel to Britain for higher education.
All in all, Chancellor Hammond sees Brexit as a great opportunity to explore different business avenues across the globe, from which the UK economy would “benefit in the long term”.