The EU Needs to Make Sure Continental Countries Don’t Exit
— June 28, 2016
By Pankaj Ghemawat
Like virtually all believers in globalization, I deplore Brexit and think the markets (and Game of Thrones fans) are right to be concerned. The UK Treasury’s 200-page April 2016 report, blandly titled “The Long-Term Economic Impact of EU Membership and the Alternatives,“ seems a useful, well-executed benchmark. It predicts that the UK’s GDP will be significantly lower in 2030 — its central estimate is 6% — as a result. The respected Center for Economic Policy Research suggests that may be a significant understatement.
Read the full article as published in Harvard Business Review.
Pankaj Ghemawat is a Global Professor of Management and Strategy and Director of the Center for the Globalization of Education and Management.