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Will America Win or Lose From Brexit?

Some of the obvious political winners from Brexit are people who do not like Western Europe and what it stands for. Ironically, the US – Europe’s greatest ally and the EU’s largest trading partner – may also end up as a beneficiary, though not if Donald Trump wins the presidential election in November.

WASHINGTON, DC – The British vote to leave the European Union has shaken world financial markets. The immediate and medium-term prospects for economic growth in the United Kingdom are severely diminished, and the impact on the rest of Europe will be negative.

Some of the obvious political winners from Brexit are people who do not like Western Europe and what it stands for. Ironically, the United States – Europe’s greatest ally and the EU’s largest trading partner – may also end up as a beneficiary, though not if Donald Trump, the presumptive Republican nominee, wins the presidential election in November.

Britain has a population of just over 65 million people and what was, at least until Thursday, the world’s fifth-largest national economy, with annual GDP totaling nearly $3 trillion. In the context of a $75 trillion global economy, Britain’s is a relatively small, open one that relies heavily on foreign trade – annual exports are typically in the range of 28%-30% of economic activity.

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