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The student news site of Baruch

The Ticker

The student news site of Baruch

The Ticker

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Brexit decision drives focus to world order

U.K. Prime Minister Boris Johnson formally announced the departure of the United Kingdom from the European Union, the world’s largest economy and political regional bloc. 

The United Kingdom seeking to leave the European Union is a historic lesson for populists around the world. 

In order for economic nationalism to work, there has to be enough self-sufficiency in the market.

Johnson’s revised Withdrawal Agreement Bill was passed by a majority in the British Parliament after the landslide election of Conservatives to the Parliament earlier this year.

The immense power of the Conservatives in Parliament provides that there will be an emphasis on lower regulation and taxes, higher immigration control and greater sovereignty in the years to come.

According to the Withdrawal Agreement Bill, the United Kingdom is going to go through an 11-month transition period until Dec. 31. 

Johnson has said that he will not extend the deadline. 

This is to avoid an even more lengthy exit and political catastrophe for the Conservatives. 

Not much is going to be changed in contrast to what Conservatives may say.

In the 2016 referendum to leave the EU, 17,410,742 people voted to leave and 16,141,241 people voted to stay, according to the Electoral Commission of the United Kingdom.

Out of the total electorate, 46,500,001 voted, which is about 72.2% of people. 

Interestingly, a large proportion of British citizens didn’t vote. 

The referendum margin was too close.

So, Johnson is going to take half measures to maintain power, but will also take an uncompromising stance post-Brexit to maintain order.

Overwhelming public disappointment from voters who voted to remain in the EU should not happen because this political movement will have serious implications for the Conservatives in May 2024.

The rise of global populism has been especially noticeable in Britain, with people refusing to let those in faraway Brussels, Belgium make decisions for London.

It is unique to see the effects of a strong economic country like Britain leaving the 27-member European Union.

Britain may have left the political process of the EU, but it will be forced to have an economic relationship with the bloc. 

It seems impossible for the EU and United Kingdom to not have some agreement, as both have serious economic interdependencies.

Both the EU and Britain nearly depend on each other, and to think that the country can be independent from the EU is a farce. 

There will be deals done by the Conservative government behind closed doors to ensure economic order.

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