26 Jun '16, 2am

Will the ‘Brexit’ mark the end of the age of globalization?: For decades, financial and political l... https://t.co/67fHRnEFo0

Will the ‘Brexit’ mark the end of the age of globalization?: For decades, financial and political l... https://t.co/67fHRnEFo0

“This vote [in Britain] was mobilized around issues of nationalism defined in ethnic terms,” said Robert Shapiro, chairman of consulting firm Sonecon and a former economic advisor to President Clinton. “It’s surprising that one of the most sophisticated countries would fall for this,” he said. “That tells us about the fundamental failure of the EU.” The pushback against globalization also raises a new question: What’s the alternative? So far, there’s much more agreement on the problems globalization has created than on any solution or response. The direct and immediate economic pain will be felt hardest in Britain. The nation’s economy had outperformed most others in Western Europe in recent years but is now likely to tip into recession in coming months. The world has long regarded London as the financial capital of Europe, but one of the things that gave it that imprimatu...

Full article: http://peakoil.com/generalideas/will-the-brexit-mark-the-...

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