United Kingdom and The New Imperialism
Further information: British EmpireThe United Kingdom in the 1870s remained the world's foremost industrial power, but her share of world manufacturing output was already falling before the impact of international recession. Like the Dutch a century and a half earlier, the British coped with relative commercial and industrial decline in the latter half of the 19th century by becoming the world's preeminent bankers, and invisible exports of financial and shipping services alone kept the United Kingdom ‘out of the red.’
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