Source | LinkedIn : By Gurbaksh Singh Chahal
Most people around the world reacted to Brexit with utter shock and disbelief. The 52% Leave to 48% Remain results were announced after a huge 72% voter turnout sealed the fate of countless millions. But as people from across the globe try to come to grips with how all this could have happened, a very uneasy question is being asked on all seven continents: Is there a connection between the racist attitudes of the British and their negative perspective toward the European Union?
On the day that the results of the referendum were announced, social media posts insinuating a distinct link between racism and the Brexit result skyrocketed, and Google displayed data which evidenced an explosive surge in searches that ran “Brexit xenophobia” and “Brexit racist.” Before discussing the root ramifications of this subject, let us look at some facts:
- The older demographic was representing the swing class that voted “out” based on the top political propaganda issue: “We Want our Country Back” from immigrants.
- Let us assess this: historically, the UK ruled and manipulated some of the largest regimes of today’s modern world. Therefore, to make the assertion, that “immigrants” legally coming into the UK are taking the country from them is a false accusation. If someone moves to a new country, does better in school, and has a better career than a natural born citizen, it is the fault of the latter, and not the “immigrant.” If anything, in this scenario, compared to the “natural born citizen,” that “immigrant” class is actually increasing productivity for the country (as demonstrated by the country’s GDP. The UK is a prime example). In America, over fifty percent of new entrepreneurs and CEOs are immigrants who generate jobs for the population. This is precisely what has boosted America’s success and made it the largest economy in the world.
- On this factual basis, the people of the United Kingdom did not get their country back with this vote. They segregated themselves from their EU allies and their own people – even in their own territories where there are fierce disagreements based on these ramifications that they are about to face.
So, who ever voted for leaving the EU, this is what this means to you:
- As most commodities are priced in US dollars, it means that many things including essentials such as food and oil, are about to get more expensive for you. As a result of the trillions of dollars, pounds, euros and other currencies wiped off the stock market along with the huge currency drop, everyone’s wealth took a hit instantaneously. So, how are you going to deal with these problems now you have less money and the prices for goods have increased?
- While people have jokingly said that it will be cheaper for Americans to visit the UK – in actual fact, these tourists are not going to benefit either. This will generate a systemic effect for America and other countries; and this fall out has already started to be highly significant.
- The British Pound, one of the strongest global currencies, dropped 11% in value after the Brexit vote, taking it to its 1985 low.
- So what does this mean for Americans? If you are employed by large corporations with a presence in the UK, you report your earnings in US dollars. Therefore, unless, your company is booming with growth, you too lost 11% of your revenue/profits with the Brexit vote.