Post Brexit vote, a fresh look at globalisation
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The UK is withdrawing from one of the greatest projects of economic integration, argues David Lipton.
There were a lot of dramatic headlines over the weekend suggesting that Brexit signals the beginning of the end of globalisation. Surely, it is too soon to understand all the ramifications of the British referendum. But at the same time, today is surely a good day to make the case for multilateralism. While there are plenty of reasons to be concerned about the future, I will argue that globalisation still has promise. But to achieve that promise, we will need a fresh look at multilateralism and the role the international financial institutions can play.
My generation can be excused for assuming that history moves in one direction: we have experienced globalisation and with it rising incomes and economic progress at home and abroad. Our experience was different than our parents’ generation, which came of age experiencing depression and war.
But now the Brexit vote raises the possib...
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