In the hundred years from 1914 to 2014, the century since the outbreak of the First World War, the United Kingdom will have declined from pre-eminent global superpower to developing country, or ‘emerging market’, part of the Global South. The symptoms of this vertiginous plunge in the world’s rankings are already starkly apparent: a chronic balance of payments deficit, a looming shortage of energy and food, a dysfunctional labour market, volatility in economic growth and a painful vulnerability to external events.
KeywordsInternational Monetary Fund Great Recession United Nations Security Council Asset Allocation Strategy House Price Bubble
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