On 23rd June 2016, Britain voted out of the European Union through a referendum. The decision by the Britons marked a momentous occasion in history as different consequences were seen. These implications were both political and economic. For instance, the freedom of labor was curtailed--immigration, trade between Britain and the entire European bloc was reduced, and the sharp decline of the pound followed. This paper strives to explain the economic implication of Brexit both in Britain, and the world. Since the inclusion of most European countries into EU, Britain has experienced immigration from the different member countries. The figure ...
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