With a vote of 48 to 52% Great Britain chooses to leave the European Union. The markets are falling and governments are scrambling. Why? Lets not get to deep into the weeds on why. So here is a short version. Large trading blocks such as the EU. Make trade negotiations much easer. For both large multinational corporations and governments alike. Negotiating separate deals with each and every country is time consuming and costly. So with the exit of Great Britain from the EU and other countries considering the same. The cost and amount of effort to do business in multiple countries increases. Trade does not stop. The concept of globalism is set back. Power in government is lessened. Local labor has a slightly stronger hand in its position as it comes to wages. It would appear as if the shoe is on the other foot. Is it time for Multinational corporations to work harder for less?
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