An Asian view of Brexit – a tragedy or comedy of errors?

A still image from video shows Britains Prime Minister David Cameron speaking to the House of Commons during Prime Ministers Questions, in London, Britain July 6, 2016. REUTERS/UK Parliament via REUTERS TV NO COMMERCIAL OR BOOK SALES. NO SALES. FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS

TWO weeks ago, the world woke up to find that the British actually voted 51.9% for an exit from the European Union (EU).

World stock markets lost over US$3 trillion in market value, with the credit rating agencies downgrading the UK from AAA to AA, making it more costly for British companies and government to raise funds. The pound sterling depreciated sharply to its lowest level for years.