Global Britain Doesn’t Need Free Trade

Mario Balotelli scored a fine goal in Marseille

(Bloomberg Opinion) — In late 2016, Liam Fox, then the U.K.’s secretary of state for international trade — a new job created in the aftermath of the Brexit vote — declared the birth of a “post-geography trading world.” With technology breaking down the barriers of time and distance, there was no need to fret about the U.K. leaving the European Union, the world’s biggest single market and free trade zone sitting at its doorstep. Whatever economists assumed were the gravitational benefits of being geographically part of Europe would be easily outshone by trade with other continents no matter how far away.More than three years later, with Brexit now a reality, we’re still waiting for that post-geography, post-gravity world. A new…

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