Brexit could spread shockwaves through global economy, says OECD

Paris-based thinktank compares consequences of UK leaving EU to effects of China's high-tempo economy grinding to a halt

Britain's departure from the EU poses as big a threat to the global economy as a "hard landing" in China, the Organisation for Economic Cooperation and Development has said.

The Paris-based thinktank said Brexit would have significant costs not just for the UK and Europe, but for the rest of the world. Catherine Mann, the chief economist at the OECD, said the uncertainty caused by the referendum came at a time when the global economy was caught in a low-growth trap.

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