In Dealing a Blow Against Globalization, Brexit Highlights Interconnectedness

People look at the foreign exchange rates displayed in the window of a Bureau de Change, London, June 25, 2016 (AP photo by Tim Ireland).
People look at the foreign exchange rates displayed in the window of a Bureau de Change, London, June 25, 2016 (AP photo by Tim Ireland).
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AMSTERDAM—Little doubt remains by now that Brexit, the British voters’ decision to pull their country out of the European Union, will have a detrimental impact on the United Kingdom’s economic fortunes. The country will experience an economic contraction, and it is quite likely that a loss of global influence will also ensue. In fact, the U.K. itself may ultimately come apart, as Scotland and Northern Ireland, both of which opposed Brexit, ponder a separate future. The reverberations from the vote, however, extend far beyond the British Isles. If resentment over the impact of globalization was one of the motivating forces […]

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