The scars of the 2008 financial crisis haven’t even healed yet, and the United Kingdom’s economy is now facing up to one of the G-7’s largest pandemic-induced economic slumps. The decline comes alongside a potentially disruptive decoupling with its biggest trading partner, the European Union, when the Brexit transition period ends on Dec. 31. For some critics, the turmoil is just another chapter in the long saga of Britain’s demise on the global economic stage. But decline is not inevitable. For a country well accustomed to short-term crisis management, the United Kingdom will need to rediscover the sense of the long term if it seeks to refresh its position as an economic powerhouse.
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