Britain’s vote to leave the European Union casts a shadow over the global economy. How deep a shadow depends on how the rest of the world responds, which will be driven by politics, not economics, Greg Ip writes.
The rise of fast fashion has created a tsunami of inexpensive castoff clothing from the U.S. that often ends up resold or reprocessed into pillow stuffing or other goods in the same low-wage countries where it was made.
Fears the U.K.’s exit from the EU would batter earnings and investment cascaded through the British business community, with profit warnings hammering two companies’ shares and a survey of company leaders finding deep disquiet.
A heavyweight debate in Portugal featuring Federal Reserve Chair Janet Yellen and Bank of England Governor Mark Carney has been canceled in the wake of Britain’s historic decision to exit the European Union.