The Spectator’s notes | 3 March 2016

The government, or at least David Cameron’s bit of it, seems to think that trade is something that takes place because of a trade agreement. The order is the other way round. People trade, and have done for several thousand years, because it is to their mutual advantage. After a bit, governments come along and try to direct and often impede it, but in the modern world of instant communications, ready transfers of money and container shipping, this has become blessedly difficult. A friend, Edward Atkin, who has made a large fortune out of Avent baby bottles and like products, tells me: ‘I have never known or asked whether any of our customers in over 80 markets was trading in a country with or without a trade agreement with the EU. We exported 80 per cent of our output. Most of the world’s leading exporting countries (Japan, South Korea and the US) have no such trade agreements with the EU.