Fortune

After Brexit, Global Is Local

Britain’s decision was a setback for the global economic order. Here’s how GE plans to keep growing in a protectionist world.
Under Immelt’s leadership, GE has increased its revenue from outside the U.S. nearly sixfold.

THE RESULTS of the U.K. referendum on Brexit have caught the markets and many globalization observers by surprise. They shouldn’t have. The belief that governments and big institutions just don’t work and the rise of populism and protectionism have been gaining momentum for quite some time.

We live in a world that is volatile, and the economy is uncertain. Economists have lowered global growth projections every year since 2010. The value of government bonds with negative yields has surpassed $12 trillion in the wake of the U.K. vote. There is geopolitical unrest, and Europe in particular has been rocked by fragmentation and has struggled to

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