Obama's Brexit intervention and Boris Johnson's dream of becoming PM

By Sumantra Maitra
0 Comment(s)Print E-mail China.org.cn, April 27, 2016
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British Prime Minister David Cameron (L) greets US President Barack Obama as Obama arrives for talks at Downing Street in central London on April 22, 2016

David Cameron couldn't have asked for more at President Barack Obama's Brexit intervention. Standing shoulder to shoulder with Cameron, Obama vowed that Britain would stand at the end of the queue if it pulls out of the EU, meaning the special trade relationship will be all but finished.

Obama stood there and did what Cameron had tried and failed to do: to sell a Britain In campaign to the British people. The only thing missing was an In campaign sign. One can argue about Obama's policies or his foreign policy or even his timing for this intervention, but he is arguably the most gifted politician of his generation, after Bill Clinton and Tony Blair, when it comes to extempore speeches. Cameron couldn't be more relieved to have the wind back in his sails after open rebellion by his MPs, including Boris Johnson, the mayor of London.

Of course the Out campaign didn't take it too kindly. Boris Johnson said that it is hypocritical of a U.S. president to lecture another sovereign democratic country and an important ally about how they should vote; after all how would U.S. feel if another world leader wrote about how the U.S. should join the Chine-led AIIB, or have an open border treaty with Canada and Mexico or sign and ratify the UNCLOS? Nigel Farage said that Obama's Kenyan ancestry has filled him with a reflexive anti-British sentiment, due to the colonial legacy he's inherited. If Obama or American politicians will never have open borders or join financial and geo-political organizations led by other powers, why should Britain? And on authority does the U.S. president have to lecture the British populace?

Not only the right is divided, but the left as well. Moderate Labour MPs want a stronger EU, and Britain to be a part of it. In my conversation with Labour candidate Kate Godfrey, I was told that the majority of British Labour supports Obama's intervention. Obama has somewhat more credibility among the British population than even British PM David Cameron, and some people think highly of him and his opinions.

But there is a group within the left who strongly feel that this is American meddling in British politics and is unwelcome on principle. In fact there is a strong wind among a section within the Labour party to oppose what they think of as an ever growing neo-liberal, hegemonic union, which throws its weight around, intervenes in the domestic politics of smaller European states and even militarily outside Europe. They are known as the Lexit brigade.

The thing is, from an economic point of view, this is uncharted waters, and no one can confidently predict what is going to happen in the long term. There is strong data and statistical backing for arguments of both sides. If U.K. leaves the EU, there might be severe strain on London as a financial hub. On the other hand, U.K. might find its individual comparative advantage back. U.K.'s exit might even break up the EU as we know it, or it might make it stronger. If the EU breaks, that might be beneficial for China, as Chinese goods will flood the EU market after the signing of bilateral individual treaties with member countries, or perhaps not. Geopolitical U.K. might start to be self-sufficient again, build up its military and have excellent trade relations with China and India without being constrained by EU rules and quality control. Or it might fade away into oblivion.

The point is, it is impossible to predict with absolute certainty what is going to happen. That's the beauty and risk of economic predictions - because there are so many unknown variables, it is more complicated than geopolitics. The only thing that can be said with any real confidence is that Obama has tilted the play towards an In majority. Boris and his comrades from both the left and right, who want U.K. to be out of EU, need to up their game and be on the attack now if they genuinely want a Brexit. Because if Brexit doesn't happen, one thing is for certain, it is the end of the Boris Johnson's Prime Ministerial dream.

Sumantra Maitra is a columnist with China.org.cn. For more information please visit:

http://www.china.org.cn/opinion/SumantraMaitra.htm

Opinion articles reflect the views of their authors only, not necessarily those of China.org.cn.

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