Britain became a world superpower with the help of the sea and seafarers. It had a huge naval fleet which helped it to create a vast empire overseas. Britain started off with trade and ended up being the rulers, expanding the empire by establishing colonies wherever possible.
The colonies of Britain were rich in natural resources which they looted. The wealth amassed from the colonies made Britain the richest country of the world and the territorial control gave them enormous power. By the 1980s, industries became the backbone of Britain’s economy.
Britain’s involvement in World War I and II affected its economy. Most of its colonies emerged as independent countries by the 1960s. This led to the weakening of its political power. It suffered greatly in the 2008 financial crisis as well. Though it has lost its old glory, the UK is still powerful diplomatically.
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