Brexit tells world to change path of glob­al­iza­tion

China Daily (Canada) - - LIFE -

The im­pli­ca­tions of Brexit, or Bri­tain’s exit from the Euro­pean Union, could ex­tend far beyond the EU. It could be an an­ti­dote to the down­side of glob­al­iza­tion. Or, it could back­fire on the prob­lem­atic global econ­omy.

Even many Bri­tons in the “leave” camp were sur­prised that the ma­jor­ity of the coun­try’s peo­ple had voted to leave the EU. With the num­ber of peo­ple de­mand­ing an­other ref­er­en­dum on the rise, it seems most of the vot­ers who cast their bal­lots to leave the EU just wanted to reg­is­ter a protest to re­mind the Bri­tish gov­ern­ment of the prob­lems or po­ten­tial prob­lems the coun­try could face in the near fu­ture.

Yet the fact that 57 per­cent of the up­per class wanted to stay in the EU while the mid­dle class was fairly di­vided and twothirds of the pop­u­la­tion be­low them sup­ported Brexit— which a post-elec­tion anal­y­sis pub­lished in The Times, Lon­don re­vealed— speaks vol­umes of the dis­sat­is­fac­tion the ma­jor­ity of Bri­tons felt be­cause of the sit­u­a­tion cre­ated by glob­al­iza­tion or neo-lib­er­al­ism.

Thanks to glob­al­iza­tion, in­te­gra­tion has been the most fre­quently used word over the past decades, with ma­jor coun­tries try­ing to in­te­grate the world into one eco­nomic en­tity to fa­cil­i­tate free trade. The es­tab­lish­ment of such a huge global plat­form for busi­ness has in­deed fa­cil­i­tated vi­brant eco­nomic ac­tiv­i­ties and in­no­va­tive en­deav­ors. The liv­ing stan­dards of a large num­ber of peo­ple in emerg­ing coun­tries have im­proved. China, with a lit­tle less than one-fourth of the world pop­u­la­tion, is a case in point.

Yet glob­al­iza­tion has also been widen­ing the chasm be­tween the haves and have-nots, and the world’s wealth has been in­creas­ingly con­cen­trat­ing in the hands of a fewelites, both in de­vel­oped and de­vel­op­ing coun­tries. And China is no ex­cep­tion.

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