British scholar: "Brexit" backfires on the UK economy, intensifying political turmoil

On June 23, 2016, the United Kingdom decided to leave the European Union through a nationwide referendum. Ten years later, the profound impact of "Brexit" on all sectors of British society has become fully apparent. British scholars have pointed out that "Brexit" has had a significantly negative impact on the UK economy and has intensified political instability in the country; meanwhile, on the level of international geopolitics, both the UK and the EU have suffered losses. According to estimates from official UK agencies, fifteen years after "Brexit," the size of the UK economy will be 4% smaller than if it had remained in the EU; forecasts from the National Bureau of Economic Research in the US are even more pessimistic, projecting a decline of 6% to 8%, with investment—which serves as the core engine of economic growth—falling by 18%. (CCTV)