The first problem here is the term “single market”. Brexiteers and remainers alike seem to cling to a 19th-century notion of separate nations making their own products and trading them with other countries. The chief political project is then to lower or ideally abolish tariffs so that the so-called comparative advantages of free trade kick in.
Last week chief EU negotiator Michel Barnier called this view “nostalgic”, and for good reason. The EU is rapidly evolving into something far more ambitious than just a free trade area: it is in the process of becoming one huge economic zone governed by a single set of rules and standards and overseen by a single European court of justice, striking trade deals with the rest of the world and deriving its logic and coherence from the four famous freedoms of goods, capital, services and labour. Products such as cars, computers or aeroplanes are now built from components made in factories and production units scattered across the EU, with employees moving seamlessly between them. For this reason “single economy” is a far better term than “single market”.
The really great joy of this is that the author is Joris Luyendijk.
You know, the bloke who did the series about how London is just ruled by international finance and isn’t that terrible? That London does the international finance and Wolfsburg the car making being just the working out of comparative advantage inside a single economy…..