PD Editorial: Is this now an age of isolationism?

On Thursday, the world’s focus was on Rio De Janeiro, an Olympic host city seemingly on the brink of collapse.

By Friday, all eyes were on London - with similar concerns.

Will Washington, D.C. be next?

It’s a legitimate question in the aftermath of Britain’s vote to rupture its longstanding relationship with the European Union, a decision that sent shock waves around the world.

The immediate impact was on the financial markets, with the Dow ending the day down 610 points, a loss of nearly 3.4 percent. It was the eighth worst sell-off in Wall Street history.

Other markets fared no better. The S&P fell nearly 3.6 percent, while the NASDAQ was down more than 4 percent. Germany’s DAX index declined 6.8 percent, and Japan’s Nikki was down nearly 8 percent. Meanwhile, the pound plunged to its lowest level since 1985.

The political fallout was just as quick and severe, as British Prime Minister David Cameron, who, as with the majority of political leaders in Europe opposed the Brexit referendum, announced he would step down in the fall to allow someone more favorable to the outcome to oversee the difficult task of cutting the many ties with the economic union.

In an attempt to ease concerns, President Barack Obama, meanwhile, offered assurances of the strong bonds that will remain across the Atlantic. “While the U.K.’s relationship with the EU will change, one thing that will not change is the special relationship that exists between our two nations,” Obama said during a visit to Stanford University. “That will endure.”

Amid the uncertainty of the day, presumptive Republican presidential nominee Donald Trump also tried to put the best face possible on the vote for separation, and, once again, the best he could offer was his own.

“There is great similarity between what happens here and my campaign,” Trump said in praising the vote as he opened a refurbished golf course and hotel complex in Scotland. “People want to take their country back.”

To be fair, the comparisons between Trump’s political success and the prevailing sentiment in Britain to sever economic ties with the continent are legitimate. Both have been emotion-driven, populist campaigns fanned largely by perceived fears of uncontrolled immigration and loss of economic independence and control. One seeks to build walls while the other sought to raise a draw bridge.

Now that the decision to raise the bridge has been made, the question is what impact Britain’s vote may have on the Trump campaign and whether supporters of Brexit can calm markets, restore the nation’s political footing and deliver on promises that isolationism in a time of globalization is the right course.

With Britain’s departure from the EU as with Trump, we have our doubts. America at least will have the benefit of having four months to observe the outcome of one before deciding on the other. Day one was not promising.