Question

Please explain in detail

What is "Brexit" and what impacts does it have on international business

Answer 1

Brexit is the phenomenal jointly votedby UK citizens to voluntarily vote them out of EU. Around 51.9 percent citizens voted for withdrawal from EU in 2016.

This has created largescale impacts with reduction in number of jobs in EU as well as barred free trade agreements Also UK now follows its own currency as Pound as against common Euro. Post brexit, the CPI inflation rose considerably in UK.

The stock exchanges across globe too has witnessed spillover effects. Since Brexit the Euor has depreciated and many nations have to renew their existing contracts with bith nations and some have explicitly cancelled due to lack of stability and trust.

Moreover jobs security for immigrants in UK has been lesser now and foreign direct investment too has substantially reduced because they no more have access to cash rich EU countries.