WSOC & TWC News: Prof. Vikram Kumar Discusses “Brexit” Impact on N.C., U.S.
As markets continue to feel the impact of the UK's June 23 referendum to leave the European Union, chair of the economics department, Vikram Kumar, offered his thoughts on the impact of "Brexit" to two Charlotte-area outlets.
Kumar likened Brexit to a financial earthquake that will spread out far from its epicenter of London. He believes that Charlotte-based banks with large international operations will feel the greatest strain locally.
"If Brexit happens, then the Europeans, I think, are going to insist that the Euro-based trading be done out of some Eurozone country that's going to exclude Britain," says Kumar.
Kumar teaches courses on international trade and macroeconomics.