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Scoop.it!
Members of the World Trade Organization agree to cut red tape to boost trade in services. 
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Scoop.it!
Trade with central and eastern Europe already affected and local GDP could shrink by 5%
Graham Watson's insight:
It's not just the UK that's going to be damaged by Brexit - our trading partners will also suffer, with Central and Eastern Europe likely to bear the brunt of this. This Guardian article looks at how Brexit will affect Eastern and Central European service sector providers, luxury furniture manufacturers and tourist destinations.
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Scoop.it!
As labor shortages and supply chain problems bite, consumers have a growing sense they’re getting less for their money
Graham Watson's insight:
I like being introduced to new concepts - in this case, this article looks at the notion of 'skimpflation', where service sector suppliers are less concerned with standards of service. The example given is the airline industry, with last weekend seeing a large number of flights cancelled or delayed across the US, and airlines seemingly prepared to accept this as a result of labour shortages and supply chain problems.
Thus, going forward, will skimpflation be to services what shrinkflation is to manufacturing?
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The WTO has concluded a deal to reduce red tape surrounding qualifications and licensing, with an eye on reducing trade costs and boosting global trade in services. It is estimated that this could reduce costs by as much as £113bn a year.
Interestingly, because the UK is the world's second largest service exporter, we may have the most to gain, not least with regard to financial services, although I'm struggling to see how being a member of the EU has limited our ability to strike deals like this. (A clue: it hasn't)