People think of the UK as a commonwealth.
Wealth is not that common in the UK.
The vast majority of the UK’s income, in fact 22%, comes from the area around London, but a much bigger piece comes from South England and northern Scotland.
In fact, wealth distribution in the entire Eurozone is bad.
Here in Germany, half of their GDP comes from 3 states. Bavaria, North-Rhine Westphalia and Baden-Wurttemberg. But England is not Germany. Whereas Germany is a juggernaut in manufacturing, especially high-end products, chemicals and drugs, the UK is a financial services center.
When you get outside London, the UK is poor.
Per-capita GDP in Scotland, Wales and much of England is third world.
Germany has very high taxes, but those taxes are funneled into social programs that make the areas outside their three primary states livable. Also, the economy of their capital, Berlin, is quite small. In fact, Brandenburg is poor. London is one of the richest cities on earth.
But here’s the problem. London has a Muslim mayor. He was elected by Muslims who dominate the city. London has most of England’s wealth but very little of England’s PEOPLE!
One might argue that New York and London are similar, but New York controls far less, 8-9%, of America’s GDP.
After Brexit, the UK will not be a country, they’ll be a city-state, much like Venice was.
Venice was powerful because it controlled the trade in Italian olive oil as well as the trade in tea, spices and silk through the Sinai and the silk road. They remained powerful until the Dutch invented the three-mast cutter and were able to sail around Africa. After this, Venice became a tourist attraction.
What trade routes will the UK control?
They could control the Strait of Gibraltar as well as the Suez Canal, but that assumes these are worth controlling. As I said in an earlier piece, these COULD be jewels, but what is England if they succeed? Are Wales and Scotland better off? Would Brits die fighting to protect London’s Muslims?
A countries currency is only valuable if it can be used in trade. That is, reserved by banks. Why would anyone want to hold Pounds after Brexit?
All nations fantasize about their histories. In fact, 99% of history is pure bullshit. We love to think that our founding fathers were smart guys with no self-interest and that JFK was a good president. The Russians yearn for Stalin and the Indians are deifying Gandhi.
I’d like to say, “you can’t make this shit up,” but the fact is WE DO MAKE THIS SHIT UP!
History isn’t about what happened, it’s about what we want to believe happened.
It’s only important though, when you ACT on it. The British fantasies about empire are just that. Fantasies. They still believe getting their asses kicked in Singapore, abandoning Australia and running away in Dunkirk were victories. Whatever. But in the end of the day, during the height of England’s power, 12 million Brits out of a population of about 40 million, left the country.
As a free trade empire, the place was unlivable.
In 1900, in the Empire, over 90% of England’s land was owned by 400 men. In trading empires, the rich get richer and the poor die protecting their wealth.
In 300AD Rome had 2 million residents. By 500AD, they had less than 100,000. This is what being a trading empire buys you, and when that empire fails, as it did in Venice and Rome…
You become a tourist attraction.