UK was the global power recognized for their dominance across continents till the middle of 20th Century. But over the last five decades the dominance of UK in global politics has been steadily going down.
Today UK is staying in the global power list only due to their close alliance with US and anytime they cut that down, the UK might be rated down by many countries across the globe. Also the UK has been struggling as an economy in the last few years. The UK economy in fact went into a massive recession in the last few quarters, thanks to the global financial crisis.
While some countries have come out of the crisis by now, UK is still reeling under the pressure due to high unemployment levels. The UK housing prices have been continuing their downward trend for the last eighteen months, thanks to increasing supply of foreclosed homes.
And countries like China, Australia, South Korea and India are slowly and steadily over growing UK in the past few years. All these do not augur well for the dominance of the once mighty United Kingdom.
Nothing is permanent in this world, and the history is there before us to remind the fact.