ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Brexit's Effect on Globalization

Updated on November 15, 2016

Mike Bercek

November 15, 2016

Brexit’s Effect on Globalization

​Britain's exit from the EU, otherwise known as Brexit, could mark the end of globalization, as we know it. Globalization can be described as a process of integration and interaction between people, companies, and governments of nations around the world. Britain's exit from the European Union is the single greatest event in terms of globalization since the Berlin Wall came down in 1989.

The United Kingdom first joined the European Union in 1973 with a 67 percent vote in favor of the referendum. The European Union can be described as the political and economical union of 28 member states located primarily in Europe. The European Union policies strive to ensure the free movement of people, goods, and services, and capital throughout its participating states. Other policies the European Union aims to ensure are enacting legislation in justice and home affairs, as well as being involved in the policies on trade and agriculture.

The official date of Britain’s vote to leave or stay in the European Union was June 24th. On that morning, 51.9 percent voted in favor of leaving the European Union and 48.1 percent voted in favor of remaining in the European Union. With this vote, Britain took a stand against the idea of globalization and would remain an independent state. However, this vote to leave does not come without consequences for both parties. The consequences of withdrawal for the United Kingdom include everything from a stained relationship with current members of the European Union now to immigration and economic effects. Although the majority of voters supported leaving the European Union, the United Kingdom presented a number of alternatives of membership that would allow Britain access to relations with some remaining European Union members. For example, The EFTA, or European Free Trade Association, would allow trade with countries like Iceland, Norway and Switzerland. This would allow the United Kingdom to trade goods with some of the same countries it has been for the past years without being directly involved in the European Union and remaining independent. Another effect of the Brexit movement of the United Kingdom includes immigration. There are many questions that arise from the Brexit decision for the United Kingdom like the allowing of immigrants from European Union countries into Britain or not. In late July 2016, there were discussions that may provide the United Kingdom exemption from the European Union’s rules on refugees’ freedom of movement. While the process of the Brexit movement continues there will most certainly be increased security when it comes to regulating who comes in and prevention of new immigrants staying in the United Kingdom. Another one of the many implications of the Brexit movement on the United Kingdom is the economic effect. On October 4th 2016 the Financial Times estimated assessed the potential banking effects of the Brexit movement. Their assessment includes things like the British financial service industry possibly losing 35,000 of its one million jobs. Some other assessments include the British Treasury Department losing 5 billion pounds in tax revenue. One particular group of citizens directly affected by the Brexit vote is university students. United Kingdom universities rely on the European Union for 16 percent of their research funding. The European Union also provided a number of grants to United Kingdom universities that will not longer be available. These are just a number of the possible implications of the United Kingdom vote to withdraw from the European Union.

Not only does the Brexit movement have some possible adverse consequences to the United Kingdom, but the European Union itself as well. The vote of the Brexit movement could potential spark a trend in the European Union and cause other members to leave as well. This would leave the European Union and globalization crippled and a thing of the past. Britain’s contributions to the European Union will also be greatly missed by the European Union. In total, approximately 750,000 jobs in Germany rely on exports to Britain. With Brexit the European loses its second largest economy, the country with the third largest population, and one of the financial centers of the world. Not to mention, the European Union also loses its strongest military power. The European Union is clearly going to be adversely effected by the departure of Britain.

With the British vote to exit the European Union all the major aspects of globalization are affected immensely. Everything from immigration, banking, military and such will be flipped on its head for both parties involved. In the end, globalization as a whole will be left in the dust for years to come with this single major global event.


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)