Question: Please read the case given below carefully and answer the questions based on your critical observation - Brexit (Withdrawal of membership by the United Kingdom

Please read the case given below carefully and

Please read the case given below carefully and answer the questions based on your critical observation - Brexit (Withdrawal of membership by the United Kingdom from European Union - full integration of 28 West European Countries) The United Kingdom (UK) joined the European Communities (EC) in 1973 under the conservative government and continued membership endorsed by a referendum in 1975. Despite the Labour Party's 1983 election manifesto advocating full withdrawal and oppositions on the developments like European Single Market and European Union (Maastricht Treaty 1972) the issue of withdrawal remained undecided until 2014 when a new UK Independence Party (UKIP) campaign was influential in bringing about a referendum and finally which was done successfully Conservatives Prime Minister David Cameron in 2016 . Out of total valid votes 51.89 percent in favor of withdrawal from the EU. On March 29,2017, the Government of the UK officially announced withdrawal from the EU by 11.00PM March 29,2019 when the period of negotiating a Withdrawal Agreement will end unless an extension is agreed. Table-Major E conomic Indicators of the UK (Value in US\$ Billions) The economists have forecasted that Brexit would reduce the UK's GDP and real per capita income and said that the referendum has damaged the economy of the UK. The British treasury also indicated that economic condition is not expected to improve after Brexit. The UK is mainly service oriented economy contributing almost 80 percent in total GDP. Services export also contributes about 14 percent to GDP. Questions a) What are the likely disadvantages of disintegration of an economy from the regional integration? b) Make your assessment of available data in table to see the differences if any before and after referendum in the UK. c) Do you think that the UK should rejoin the EU? Justify your views

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