Brexit won't just affect the UK – it has lessons for the global economy | Mohamed El-Erian

Exiting the EU highlights the risks of economic and political fragmentation

The singular issue of Brexit has consumed the United Kingdom for two-and-a-half years. The "if", "how" and "when" of the country's withdrawal from the European Union, after decades of membership, has understandably dominated news coverage, and sidelined almost every other policy debate. Lost in the mix, for example, has been any serious discussion of how the UK should boost productivity and competitiveness at a time of global economic and financial fluidity.

At the same time, the rest of the world's interest in Brexit has understandably waned. The UK's negotiations with the EU have dragged on through multiple di(C)ji vu moments, and the consensus is that the economic fallout will be felt far more acutely in Britain than in the EU, let alone in countries elsewhere.

Related: Business leaders rally behind May's Brexit deal amid fears of crashing out