Brexit means that doing business with the UK is suddenly much more complex and expensive. Mandatory backdoors would break many products, and then products which rely on those products. The UK has 67 million people, or just under 1% of the world.
What's cheaper:
- Compliance (especially with unethical laws like this one); or
- Dumping 1% of your customers?
The flip side is that if I'm opening up a branch somewhere, will I do it somewhere where:
- A bunch of my tools don't work, and I need to jump through a whole bunch of hoops? or
- Just over the canal in France, across the Pacific in the US, or better yet, a little further over in some place like Czechia?
As with many isolationist regimes, England is also among the most despised countries in the world. Ever seen the Clockwork Orange? England has done some nasty shit to a lot of people around the world. It has no shortage of enemies, but it seems to be isolating itself from its former friends....
I'm waiting to see how this whole thing plays out, but I'm not bullish on the UK. If things go the way I think, I'd feel bad for Scotland. They'll have zero percent of the fault, and fully share in the consequences.