By Stryker McGuire | NEWSWEEK
Its fall was inevitable, but the economic crisis will shrink the last pretenses of empire faster than anyone expected.
From the magazine issue dated Aug 17, 2009
Even in the decades after it lost its empire, Britain strode the world like a pocket superpower. Its economic strength and cultural heft, its nuclear-backed military might, its extraordinary relationship with America—all these things helped this small island nation to punch well above its weight class. Now all that is changing as the bills come due on Britain’s role in last year’s financial meltdown, the rescue of the banks, and the ensuing recession. Suddenly, the sun that once never set on the British Empire is casting long shadows over what’s left of Britain’s imperial ambitions, and the country is having to rethink its role in the world—perhaps as Little Britain, certainly as a lesser Britain.
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