• Womble@lemmy.world
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    8 months ago

    London wasn’t the centre of a global empire in 1960 either, but it was still one of the main global financial centres. The fact that GBP isnt as important as the euro or USD isnt really a factor there as far as I understand (that’s more important to the British government and how much leeway it has in monetary and fiscal policy).

    • tryptaminev 🇵🇸 🇺🇦 🇪🇺@feddit.de
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      8 months ago

      Where we are againt at the point that these changes dont happen over night, as there is oportunity costs associated with moving.

      until 1940 London was a the centre of a global empire, albeit a dying one. Then when the last remains of the empire died off, the EU predeccessory came and Thatchers violent neoliberalization to safe London as a finance hub.

      But unless we see another push like Thatchers, that this time would basically need to enslave the average Britain to the markets, i don’t see how London will keep itself afloat in the long run.