After the 51.9 % vote in U.K. for leaving the EU, two dramatic developments have taken place :
1. The Scots want to remain in the EU. This could mean a break up of the UK, with England and Scotland parting ways.
2. 3 million Britishers have signed a petition demanding another referendum
What does all this signify ?
It signifies that the old international order created by the big powers after the Second World War has collapsed, and a period of chaos has set in all over the world, which may last 10 years or so before another order is created. Let me explain.
The period before the Second World War was a period of extreme nationalism, but after the War a period of internationalism began. Multinational corporations crashed through national borders in search of markets, raw materials and cheap labour.
Two super powers had emerged after the War, USA and the Soviet Union, but after the collapse of the latter, its place was to some extent taken by China. Also, the EU emerged as a giant.
All this has gone now, largely because of the world wide recession and consequent large scale unemployment in many countries, and widespread discontent . USA has been having a recession for quite some time, and so has Europe. China, which was regarded by some as the world engine of growth, is down, with massive economic problems.
The events in UK should be seen in this light.
A historical period of confusion and chaos has set in all over the world, triggered by the vote in UK leaving the EU. This will surely spread to other countries. Spain, which is having massive unemployment for quite some times, is having an election again in 6 months, which may further add to the chaos worse confounded.
The US elections may result in Donald Trump's victory due to the emotional passions he has whipped up.
A historical period of the Great Chaos in the world has begun, which will no doubt last a long time, but after that a just social order will be created in which people will get decent lives. But till then there will be great suffering