Brexit: New Paradigm Shift For Globalization And Signal For New World Order

Teoman Tulun ()

No qxr54, OSF Preprints from Center for Open Science

Abstract: 'Brexit' is the merger of the words 'Britain' and 'exit'. A referendum vote was held on 23 June 2016 to decide whether the UK should leave or remain in the European Union (EU). England voted for Brexit, as did Wales, Scotland and Northern Ireland. Theresa May's Davos speech highlights a new thinking on globalization that combines economic, political, and cultural factors. This new approach, while rejecting globalization at the European scale, suggests a kind of "global scale "globalization. She describes this approach as truly Global Britain. Xi Jinping's speech was an indication of which country currently highly benefits from the economic globalization. Many drew a comparison between the Brexit and the US election and argued that both were a repudiation of globalization. Even former President Obama acknowledged that the globalized policies of the world have contributed to political upheaval. Turkey's bid to join the European Union and its vision to become an active partner in the Eurasian platforms become all the more important. President Trump's recent announcement of withdrawal from Trans-Pacific Partnership (TPP) may be considered as the first concrete sign of movement in this direction.

Date: 2017-01-26
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:qxr54

DOI: 10.31219/osf.io/qxr54

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