© Original content written by James R. Carlson
The exit of the United Kingdom from a United Europe has had obvious economic repercussions. The connection between the European Union (EU) and Economy was a part of the original vision of a unified Europe. The idea of unifying the money of Europe was just a step towards unifying the politics of Europe. With the exit of Great Britain (Br-exit) we may see more economical and political consequences of dissolving this Union.
Sadly, the financial downturn in the stock markets affect real lives. We cannot sit back and watch as more damage is done to the lives of ordinary people. Keeping the EU together instead of making rapid changes will do more harm than good. Transitions are necessary for such departures and they should take years, not months or days to complete.
It’s likely other nations will leave the EU as the remaining nations are left with less value in their shared economies. From this, other markets across the globe will feel the pain of rapid withdrawals, like a run on a bank during the American depression. This is a problem with the union of nations that do not separate political and economic interests.
Treaties are formed to make agreements for political purposes with some measure of economy combined for the satisfaction of both parties. However, the idea of a global market place is an international agreement apart from formal treaties that leaves various nations vulnerable to rapid changes that may destabilize their own domestic economies.
A unified world economy is dangerous to all nations. International trade is an advantage to all nations. Having treaties that honor the independence of each nation politically and economically is an advantage to all nations. And the United States should continue to negotiate with all nations to continue international trade.
As we witnessed the decline of the American and British stock markets following Brexit, perhaps it is time we reassess the value of depending too much on foreign trade. The idea of no boundaries between nations when commerce is concerned can lead to disastrous consequences. Instead of our gross national product (GNP) relying more upon foreign trade, perhaps we need to limit our economic portfolio to include a smaller percentage of foreign commerce. Let’s continue to trade worldwide but not leverage ourselves where we no longer control our own economy.