To be honest........
UK may be declining yes but they are still the 6th largest economy in the world and larger than India.
As a sporting power they were 3rd in the last Olympic and India was 55th.
And they are still the top five nuclear power in the world.
And they have veto power in the UNSC.
Thats about to change..........
UK is facing deindustiralisation of 7% each year, in last 2-3 decades they have lost 30% of their industry.
It has become something of a cliché that the next generation is the first in history likely to be less well off than its parents. The same thing is said in all periods of prolonged
economic pessimism, only to be proved spectacularly wrong. However dark it gets, somehow or other, the march of progress always reasserts itself.
Yet nothing is ever guaranteed, and
there may be more reasons for such declinist thinking in Britain today than at any stage in the last century. From the cost of living to standards of health and education, virtually all the measures by which we track economic progress are going sharply into reverse.
Our nation stands on the cusp of potentially catastrophic relative decline, with perhaps one last chance, measured only in years, to turn things around. Growth has returned, but it won’t be sustained without urgent action to arrest myriad failings in our midst.
Exhibit A: living standards. Analysis released by the Office for National Statistics this week shows that disposable income as a whole has risen somewhat since the start of the crisis – but this is entirely accounted for by population growth, lower interest rates and higher employment. Real income per household is going backwards, and is now no higher than it was 10 years ago. Already, this appears to be the longest peacetime hiatus in living standards of the modern age.
Exhibit B: more and more of our income is absorbed by basic essentials. Down the ages, we have had to spend ever less of our time and income keeping body and soul together. This has given us more time for leisure, and more money for discretionary spending, creating a virtuous circle of economic growth.
The ONS analysis shows that we are now going the other way. The amount of our income accounted for by “essentials” – housing, water, sewerage, energy bills and fuel – has risen over a decade from 19.9 per cent to 27.3 per cent. Once food is taken into account, the numbers are more striking still. Cumulative inflation as measured by the Consumer Prices Index – the yardstick used by the Bank of England – has been roughly 30 per cent. Yet the Tullett Prebon Essentials Index – which takes in most of the necessities of modern living – has gone up by more than 60 per cent. Consumers’ discretionary spending has been eroded even more severely than that fall in disposable income suggests.
https://www.google.co.in/url?sa=t&r...4YCABQ&usg=AFQjCNG2f8iBYq_Ya0QAWVptilIR6OjuAQ
