Boris Johnson: We have settled the question of sovereign authority

The transcript discusses the resolution of a long-standing sovereignty issue in the UK, emphasizing the country's renewed focus on global trade. It highlights the UK's role in the World Trade Organization and the importance of free trade, drawing on economic theories by Adam Smith and David Ricardo. The speaker advocates for free trade as a means to increase wealth and promote peace, emphasizing its historical roots in the UK.

What is the main theme discussed in the first section of the transcript?

• The role of the World Trade Organization.

• The importance of global free trade.

• The economic theories of Adam Smith and David Ricardo.

• The resolution of a long-standing debate on sovereign authority.

What significant event is mentioned in the second section regarding the World Trade Organization?

• The appointment of a new ambassador.

• The signing of a new trade agreement.

• The introduction of new trade tariffs.

• The country taking back control of its tariff schedules.

According to the speaker, what is the country re-emerging as?

• A center for cultural exchange.

• A leader in technology.

• A campaigner for global free trade.

• A major military power.

Which economic principle is highlighted as essential for increasing overall wealth?

• The concept of opportunity cost.

• The theory of diminishing returns.

• The principle of comparative advantage.

• The law of supply and demand.

What does the speaker suggest is the ultimate benefit of free trade?

• Greater cultural diversity.

• Uniting people in peace.

• Increased military alliances.

• Higher tariffs and taxes.