Project Syndicate: El-Erian: Brexit’s overlooked warnings to the rest of the world

WASHINGTON, D.C. (Project Syndicate) — The singular issue of Brexit has consumed the United Kingdom for 2 1/2 years. The “if,” “how,” and “when” of the country’s withdrawal from the European Union, after decades of membership, has understandably dominated news coverage, and sidelined almost every other policy debate. Lost in the mix, for example, has been any serious discussion of how the U.K. should boost productivity and competitiveness at a time of global economic and financial fluidity.

At the same time, the rest of the world’s interest in Brexit has understandably waned. The U.K.’s negotiations with the EU have dragged on through multiple déjà vu moments, and the consensus is that the economic fallout will be felt far more acutely in Britain than in the EU, let alone in countries elsewhere.

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