CHINA-REACTION TO BREXIT

 The Party-owned Global Times on June 24, 2016, adopted a tone of qualified triumphalism and questioned the wisdom of using a democracy to settle the question. It said: 'The center of the world was once in the Atlantic, with its most developed components, the U.S. and the U.K, located on either side. Today, as East Asia has developed and flourished rapidly over recent decades the center of gravity has moved to the Pacific. Europe has not progressed; it has become the world’s museum and tourist destination, and it has a few decent school districts.

These changes will benefit the United States the most. The direct result of the referendum is that the USD loses a rival currency, allowing America to more easily exert political control over the European Union. This has no direct adverse political impact on Russia or China. The dollar’s appreciation against the Euro and Pound sterling will put downward pressure on the RMB, but only in the short term.
In terms of Chinese society, we have arrived at a critical period where we need to understand the big questions for globalization and democracy. England is representative of Western democracy, What will be the result of its embrace of the referendum—the “highest form” of democracy—to decide this question? That is angle from with Chinese observers will continue to observe developments.'
 






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