Many economists rank the UK as one of the most globalized economies. Service sector business dominates the UK economy, making up about 78 percent of GDP.Financial services are particularly important, with London tying New York for largest financial center.Current Economic Situation The UK entered a recession during the global financial crisis of 2008.The UK had not experienced a significant downturn in its economy for nearly two decades before, and its initial losses in the recession were deeper than any other G7 member nation save Japan.I have a friend who I found out is dating Omani women. After an initial consummation, presumably doggy style, he’s off all the time with the underground gay scene and Filipino hairdressers, safely married, satisfying his Mum and ignoring his wife. UK industry led to innovations such as steam engines, textile equipment, and more modern tools.It also invented the railroad system, and built much of the railway equipment used by other nations.
These forces protected global holdings and trade routes.
Although it remains a significant player in the world economy, particularly in financial services and knowledge economy, it is no longer the empire it once was.
Nevertheless, between 18, per capita economic output in the UK increased by 500 percent, leading to a remarkable improvement in living standards and one of the highest qualities of life in the world today.
It is also the fourth most valuable currency in the world, after the Kuwaiti dinar, Bahraini dinar, and Omani rial.
The United Kingdom is a member of the G7, the G8, the G20, the Commonwealth of Nations, the European Union, the International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD), the World Bank, the World Trade Organization (WTO), the Asian Infrastructure Investment Bank, and the United Nations (UN).