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Brexit entails review of investments in UK

By Fraser Cameron | China Daily | Updated: 2016-06-27 08:36

The referendum leading to the United Kingdom's exit from the European Union is a lose-lose outcome because the UK and the EU both will be weaker. China will have a less reliable partner as for the next two-three years as the UK will be totally preoccupied with the lengthy and complicated legal process to extricate itself from 80,000 pages of EU legislation.

The "Remain" campaign relied too much on the ability of British Prime Minister David Cameron to convince voters. But Cameron, who on Friday said he would resign in October, was caught up in the massive anti-establishment protest vote. Many voters simply did not believe Cameron's prophecy of doom if Britain voted to leave.

Then there was the reluctance of Labour Party leader Jeremy Corbyn to get involved. Traditional Labour towns in the north of England voted heavily for Brexit, influenced by the prospect of reducing immigration. The "Leave" campaign also had a catchy slogan "Take Back Control" implying that Britain had no control of its borders and very little control of what goes on in Brussels.

Brexit entails review of investments in UK

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