Economics
Carney Says Brexit Could Provide ‘Acid Test’ for Global Economy
- EU exit could be test case for challenges of globalization
- Hit to investment seen in U.K. could be replicated elsewhere
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Brexit could be an “acid test” for how the world economy might fare under the new rules of trade, according to Bank of England Governor Mark Carney.
“In many respects, Brexit is the first test of a new global order and could prove the acid test of whether a way can be found to broaden the benefits of openness while enhancing democratic accountability,” Carney said in a speech in London Tuesday. “Brexit could affect both the short and long-term global outlooks.”