Politics

As was discussed in a previous Daydreaming in Paradise article, Brexit is one of the most pressing political, economic, and social issues facing the United Kingdom currently. And in an age of globalization, where anything that happens to a single country has an effect on other countries, the impacts of Brexit are far-reaching. In fact, Allianz Chief Economic Adviser Mohamed El-Erian has noted that Brexit is already changing the ways countries are choosing to structure their economies.

While most of the impacts will be felt by the UK itself, other nations are bracing themselves for what will happen once the UK’s exit from the European Union is finalized. And as governments hash out macroeconomic policies and treaties, the consequences of these decisions hit hardest at the bottom.

If you tune into any news channel that covers international news, then you’ll have heard about Brexit. The biggest political, social, and economic issue facing the United Kingdom today, Brexit is shorthand for Britan exiting the European Union. It has been the source of much discussion, concern, and political conflict since it was put into motion three years ago, and with the deadline for the exit looming ever closer, it’s as relevant as ever. Here’s a brief primer on what Brexit is, and how it will affect the Philippines.