The United Kingdom as we know it has been
part of Modern History for quite some time. The tiny nation has accomplished a lot
during the last few hundred years. Be it fighting its larger neighbors or its
invasions of almost every country they become interested in, the British have
been known for both good and bad reasons. Despite the negativity
in their conquests, U.K was the first richest
country in Modern History. There are multiple theories surrounding
how the British amassed such a huge amount of wealth despite being a
population of just a few tens of millions. U.K. In Modern History The United Kingdom became
a truly global economic superpower post the
industrial revolution. At a time where human creativity
was realizing its true potential, Britain had a lot
of enemies in its kitty. They had to decide between growing
stronger on all fronts or die. They strengthened themselves
in the industrial front. During the eighteenth
century, Britain was a weak nation of just 5
odd million people. This was small in comparison to countries
such as the United States and France. Despite its dwarfed size, it continued to
take part in battles with larger nations. These wars gave Britain the opportunity
to evolve as an economic superpower. To win these wars, they had to
increase their military arsenal, along with making sure that the
country’s economy is not depleted. They achieved this by increasing their
productivity on the manufacturing front. Apart from the manufacturing
industry, England was also known for its superior
agricultural practices. This allowed it to up its production and
import the products to other countries. It literally outcompeted all of the
other countries in competition. Britain And Its Invasions It held a sort of a technological and
monetary superiority with other nations. This form of superiority
enabled it to carry out invasions of
different magnitudes. The colonization of Africa,
the invasion of India and also the Americas,
being prime examples. They could stamp their
authority over these regions, exploit all their natural
and financial resources and once the job is done,
head back to the U.K. with pockets filled
with foreign treasures. This trend has carried on for centuries
and it is evident even today, as U.K. continues to be one of the richest countries
in the world despite its puny size. Hence, it is safe to say that
History certainly helped the United Kingdom reach a
position it is in as of today. U.K. Of The 21st Century Enough of history now. Let us look at the United Kingdom
of the twenty-first century. As per a report by experts from New
World Wealth, the British population is a holder of more than USD 9.7
Trillion worth of total wealth. This is in the form of cash reserves,
assets, gold, etc. to name a few. It is astonishing to see
that such number is being posted despite U.K. population
to be rather meager. The report says that U.K.
is now the fourth richest in the world for total
private wealth owned. It is behind only to the United
States of America, China, and Japan. Unequal Wealth Distribution In The U.K. Despite the monstrous wealth
in encompasses, the wealth distribution in the country
is in a very horrible state. The top ten percent of the
population controlled almost half of the total
wealth of the country. The top one percent owned at least
GBP 3.2 Billion worth of assets. Those at the bottom of the
list had control over assets worth an average of
just GBP 14,100 or less. According to numerous
studies, it has been found that the rich find it
relatively easier to stay rich become richer while
the lower sections of society find it difficult
to make ends meet. The region wise distribution of wealth
is a little disturbing as well. Cities like London are home to assets
worth more than GBP 2.7 Trillion while the poorest regions amassed
only GBP 365 million worth of assets. These figures are just an indication of how
the wealth is distributed in the country. U.K. Economy In terms of GDP, the
United Kingdom is the sixth largest modern-era
economy in the world. It is also the tenth largest
good exporter in the world. It is a truly globalized economy. The United Kingdom economy
is composed of economies of England, Scotland, Wales
and Northern Ireland. There are a number of industries which
are thriving as part of UK economy. Some of the notable sectors are the
Financial service sector, aerospace sector, pharmaceutical sector, along with the
North Sea oil and Gas production. Almost all the top companies
of the world consider the UK to be a good place
to do business in. This is evident by the fact that
almost twenty-four of the five hundred top companies of the world have
their headquarters in the U.K. London too is slowly becoming
a major financial hub as well as being home to
the London Stock Exchange. Even in terms of GDP, London
is the largest in Europe. U.K. – A Hotspot For Foreign Investment Apart from the thriving local economy,
the United Kingdom has managed to garner a lot of FDI, or simply Foreign
Direct Investment, in recent years. As per a 2017 World Investment Report to
the United Nations Conference on Trade and Development, or simply
UNCTAD, the U.K. was the second highest receiver
of FDI in the world. As per 2016, an FDI influx of more
than USD 253 Billion was recorded. These are huge figures
because the Brexit issue was supposed to cripple the U.K.
economy. Despite the challenges, the United
Kingdom economy is at its best. Some of its key strengths include: 1. London is the Financial
Capital of Europe 2. The Great Britain Pound being a
strong currency despite being devalued 3. U.K. is one of the most sought-after
investment destinations in the world. Despite its negative history, the U.K.
is still going strong in the modern era. With the Brexit due to
take place in 2019, which will allow the U.K. to
have complete control over its assets, it is safe to
say that they are going to continue to become
richer than ever before.

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