Final Essay

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The Media’s Portrayal of Brexit

A 2016 referendum announcing the United Kingdom’s departure from the European Union known as Brexit caused immediate economic uncertainty. Once their exit is finalized on March 29, 2019, further global impacts on the world’s economy are likely to follow. The United Kingdom is currently under a transition period up until their exit date. With a global event such as Brexit, there are a lot of perspectives on the situation whether it can harm or benefit the world’s economy. Numerous media outlets such as online magazines, British new sites, books, etc., have shared with the public their views as well as opinions on Brexit. These outlets take into consideration the power of persuasion by using rational appeal (logos) or ethical appeal (ethos) when influencing the public’s opinions and views on the event.

 

When it comes to a global event such as Brexit, media outlets will report on the cons of the situation. For instance, according to the scholarly journal article, “Germany and the European Union: Post-Brexit Hegemon?” by Simon Bulmer, uses there could be major economic consequences since Germany will have to take on a greater role in the EU once Britain leaves. Bulmer uses both logos and ethos when addressing Brexit. He mentions how one of the most important tasks includes taking charge of the EU budget. According to the article, a German government unable to make decisions despite its structural power could leave the EU in quite a predicament. It all goes back to Germany’s lack of leadership roles. Germany is notorious for its avoidance in playing a lead military role in post-Cold War Europe. It does not look to promising that Germany will excel in taking on the financial burden, but the full financial consequences of Brexit will become clearer with the negotiation of the EU’s Multiannual Financial Framework. The article also informs the public as to how Brexit can affect trade policies and foreign trade policy can change as well in Europe. When it comes to trade, there has been considerable consistency in British European policy objectives regardless of the party in office. The UK government has consistently supported pragmatic approaches to integration rather than federalist visions. They have consistently advocated for a liberal EU internal market, particularly in financial services, and for liberal trade internationally. With Brexit, that could harm that consistency.

 

In the media, it is stressed that Brexit not only affects the UK, but it also affects the world as well. Ethos is heavily used in the source, the article: “Brexit won’t affect only the UK – it has lessons for the global economy” by Mohamed El-Erin, exposes the public to the way it is a global issue not just an issue in Europe. For instance, the article points out that it is evident that world leaders are paying close attention to the consequences of Brexit when dealing with their own political and economic situations. He advises policymakers to learn from the United Kingdom’s Brexit experience.  El-Erin writes this article in a cautious tone which alarms the reader as well as inform them. He alludes to the 2008 global crisis when informing the reader how troubling Brexit can be. He writes that the UK economy is currently experiencing slow-moving change, with the falling of foreign investment, which contributes to the economy’s disappointing level of investment. El-Erin predicts that due to Brexit, there will be changes in how countries seek to structure their economies, meaning large and relatively closed economies might seem appealing to countries who have that option. El-Erin writes this article in a cautious tone which alarms the reader as well as inform them.

The Time’s article, “What Next for Brexit: Britain Plays the Ultimate Game of ‘Deal or No Deal’” by Amanda Sloat, informs the public through using ethos, about the consequences if British Prime Minister Theresa May’s deal fails. If it fails, members of parliament will vote by March 13 on whether the U.K. should leave the E.U. without a deal. Leaving without a deal can lead to global impacts on the economy and that’s what Sloat stresses throughout the article. If May’s deal fails, members of Parliament will vote by March 13 on whether the U.K. should leave the E.U. without a deal. Consequences of a no-deal Brexit affect food security and trade disruption, to the Irish border and citizens’ rights.  Sloat wrote this article specifically towards Brits who are unaware of how serious a non-Brexit deal can affect the economy.

Forbes magazine’s article, “How Brexit Could Affect Finance, Real Estate, and The Global Economy”, uses logos when exposing its readers to cons of Brexit despite acknowledging that there are possibly beneficial outcomes of Brexit. Author, Ely Razin, provides the reader with detailed information on how Brexit could impact the following: the finance industry and the real estate market. A concern that is stressed in the article is that Brexit could reduce the U.K.’s competitive edge that of its financial institutions. For instance, if the British banks are not granted the extra benefits they are seeking in a financial relationship with the EU, this could give U.S. and Asian financial institutions a boost in Europe by opening competition, which could  have a negative effect on British banks in terms of their bottom line and their capacity and appetite for loan origination.

             Although there have been numerous pieces of media that focus on the negative aspects of Brexit, there are still outlets that cover the beneficial factors of the event. The New York Times Opinion piece, “Is There an Upside to Brexit?” by Chen Bittner, covers the economic benefits of Brexit through using ethos. Bittner does acknowledge that there are economic risks of Brexit, but his article strongly focuses on the positives of it.  According to Bittner, there lies an opportunity for Europe to strengthen the bilateral relationship with Britain, he believes that if they play it right, their economy can prosper. He references China’s economy, which is the largest economy in the world and states that Europe could be almost as powerful. At the end of the article, Bittner states, neither can stand up to China alone; even together, they might not be enough. But as the core of a global entente, they can meet the challenge.

In conclusion, when wanting to gain a clear understanding of Brexit’s effects on the world economy, it is significant to expose yourself to numerous perspectives. There will be sources that will tell you, as a reader, that Brexit can beneficial to the world economy while other media outlets will expose you to the cons of it. These sources will strongly rely on either logos or ethos to mold your opinion on Brexit. It is up to you as a daily news in-taker to draw your own conclusions and form your opinions on the situation.

Bibliography

Bittner, Jochen. “Is There an Upside to Brexit?” The New York Times. 04 Mar. 2019. The New York Times. 09 Mar. 2019 <https://www.nytimes.com/2019/03/04/opinion/brexit-europe-china.html?ref=oembed&gt;

Bulmer, Simon. “Germany and the European Union: Post-Brexit Hegemon?” Insight Turkey, vol. 20, no. 3, 2018, p. 11+. Global Issues in Context, http://link.galegroup.com/apps/doc/A549337202/OVIC?u=miam11506&sid=OVIC&xid=3f009bdf. Accessed 9 Mar. 2019.

Evans, Geoffrey, and Anand Menon. Brexit and British Politics, Polity Press, 2017. ProQuest Ebook Central, https://search-proquest-com.ezproxy.fiu.edu/legacydocview/EBC/5145622?accountid=10901.

El-Erian, Mohamed. “Brexit won’t just affect the UK – it has lessons for the global economy | Mohamed El-Erian.” The Guardian. 26 Nov. 2018. Guardian News and Media. 09 Mar. 2019 <https://www.theguardian.com/business/2018/nov/26/brexit-uk-global-economy-eu&gt;.

Razin, Ely. “How Brexit Could Affect Finance, Real Estate And The Global Economy.” Forbes. 08 Aug. 2018. Forbes Magazine. 09 Mar. 2019 <https://www.forbes.com/sites/elyrazin/2018/08/08/how-brexit-could-affect-finance-real-estate-and-the-global-economy/#1155f8b540df&gt;.

Sloat, Amanda. “Deal, No Deal, or No Brexit: The Scenarios Facing Britain.” Time, Time, 6 Mar. 2019, time.com/5545659/eu-no-deal-no-brexit-analysis/.

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