It is commonly mentioned that the UK has stagnated economically since 2008 however it is important to note that this is due to exchange rates (particularly with the dollar) in PPP terms the UK economy has grown! Source: World Bank - UK GDP PPP 2007 $2.18T 2008 $2.27T 2023 $3.68T. the stagnation is purely due to the exchange rate with the dollar decreasing and if you look at actual economic output for example how much is produced in quantity and how many services offered the economy had grown at s pretty decent rate. Most people see this in their salaries as well, many people earn far more pounds per year than they did in 2008. The biggest issue in the UK is that a lot of that salary had been locked up in Housing costs which means it hasn't been able to be used in other things (food, clothes, holidays....). A lot of the people with any power own a home (some multiple) and therefore vote and lobby to not allow housebuilding in their area and block important infrastructure projects such as new roads, rail and wind turbines as it could lower their house prices. I wish they realised that if a lot more homes could be built and the prices fell their lives would improve dramatically as the economic output would be huge! All those thousands of pounds a year people would be saving on rent/mortgage/saving for a huge deposit would be spent in the economy creating hundreds of thousands of jobs for people and really boasting our economy. It would also raise far more tax and a lot of our deficit problems would be solved and public services would get a lot better. The UK is doing okay and is still a very good place to live in the scheme of things. It creates amazing companies (like deep mind) unfortunately most of them get bought by US companies and the profits go to the US as everyone in the UK investments in the US stock market or S&P 500 which helps US companies get insane amounts of funding. I am very optimistic about the UK, if we can build like crazy and sort out our expensive housing and create renewable energy so we are not so reliant on other countries for energy we will really thrive. Another huge factor that will work in favour for the UK is that it has been very successful overall in having a varied group of immigration and integrating them very well. The truth is that in every development country peope are not having enough children and 'native' population is aging very quickly without enough younger people to support them. In countries like Japan and Italy this is completely destroying the country and you now have entire villages that are empty as there were no kids to keep them alive and soon towns will go the same way. Of course there should be criteria. You wouldn't allow a terrible employee into your company but an amazing employee will be a great asset. The same with immigration, a lot of our most successful start ups( like Revolut) and companies have been founded by immigrants. In general we are an incredibly accepting and tolerant country and have far less racism than other countries in the world and this makes us a very attractive destination. In a lot of other countries to get far in your career its more about who you know rather than how you perform and there is a lot of nepotism which overall will hold those countries back.
@@redstream1237I moved from London to Bristol and my life has improved exponentially. This insane idea that life in the UK is only good in London is fictitious nonsense made up by idiots.
Nah we cool. All the people that did exploit us are already long, even the queen, although she stuck around for quite a long time. Anyways our relations with the UK have never been stronger. India is the UK's second biggest investor anf UK is the sixth largest investor in India. Also with an Indian Prime Minister Rishi Sunak in UK, I'm confident our ties will only get stronger.
@@dumdumbrown4225the funniest part of it all is that south asian migrants in the UK are stauch admirers of the royal family. just see how many of them in stood in the queue to pay their final respects to the late queen, not to mention how much money they bring to the UK.
for context… the UK, with it’s 67 million population much less than madya pradesh’s 80 million, exports more goods and services in 2022 than the whole of india. source world bank & wto
1:00 so when talking about GDP you show nominal values and when talking about GDP per capita you show PPP values? Nope. Use either one or the other for both. UK gdp per capita is low compared to many other countries . It’s just around 45K
The UK has been facing stagnation since 2007, it is still a rich economy but the decline is relative. I do not believe they have surpassed the gdp per capita they had in 2007 while others continue to climb. They are relatively rich for now but another 16 years of this…
@@Zohirul-Jewel The UK founded the USA as their continuation, culturally and racially, it was founded by settlers from england, just look at the names such as new england, new hampshire and so forth, so the USA is literally the UK if it had a continental size.
@@leopoldii1829 A large part of the US was actually a French colony "France ceded the rest of New France to Great Britain and Spain in the Treaty of Paris of 1763 after the Seven years war 1756-1763".
@@Zohirul-Jewel But it was the anglo saxons who colonized it. That is why they speak english and have smith as their name in Iowa and not french with the name of Pierre.
😂😂 The UK lost money on India. Check out the video by the great Jewish American economist Milton Friedman on Slavery and Colonialism. Britain spent more money on the upkeep of India than any financial gains it got from India. The UK would have been richer had it not lost money on India.
@@mudra5114 Milton focking Friedman? 😂😂😂. That is like listening to a Jackal "Why would it think that eating meat would be disastrous to its health". Ofcourse the Jackal would be lying.
@@morningstararun6278 You are farting bullshit like the monkey. There was no colonial loot. Britain was bankrupt after WW2 fighting the Germans and the Japanese and yet the economy boomed after 1947. The gap in per capita income in between India and UK has INCREASED ENORMOUSLY since 1947. The British economy was never that dependant on it's Empire but it depended on it's trade with European nations and the USA and native economic activity.
@@mudra5114 And you are farting bullshit like a typical Brit. There was no colonial loot? Then I wonder why the people in the Global south was demanding freedom, instead of protesting to keep the Britain Empire. And as I told you in another comment, the Brits must have been some really weird inbr€ds suffering from cognitive dissonance, for the upkeep of an expensive colony, right? I don't know what "upkeep" you are referring to, but in British India, tens of millions of people were dying left,right and center because of famines , which was the historical worst in 2000 years for India.
This is a common misconceptions. The UK got it's empire through innovation and being more technologically advanced than other countries. However after WW2 when the empire fell, the living standards for ordinary people in the UK increased and the UK of today is a far better place to live and far more prosperous and wealthy than that of the 1930s or 1850s. The empire definitely helped make the UK more wealthy but even without the UK would have been a very developed country. Many other countries didn't have an empire and are also very developed and have great standard of living so the advantages of having a large empire is greatly overrated.
@@Kevin-fq3zh oh no not at all. No people are inherently screwed. Once the right systems and governance comes countries can advance very quickly and India seems to have fixed a lot of its problems and are now modernising very quickly. In the last 10 years they have developed very high tech industries and a lot of great infrastructure. Of course it is a massive country and will take many decades for the development to reach every corner but already there are pockets of the country that are really impressive and comparable to any developed place in the world. 😊
Uk economy is large but its not rich, Most British people live in poverty. Lots of foreign millionaires store their cash in London yet many london children live in poverty. London might be rich but the UK is poor
The UK has faced much harder times in the past, always bounces back.
It is commonly mentioned that the UK has stagnated economically since 2008 however it is important to note that this is due to exchange rates (particularly with the dollar) in PPP terms the UK economy has grown! Source: World Bank - UK GDP PPP 2007 $2.18T 2008 $2.27T 2023 $3.68T. the stagnation is purely due to the exchange rate with the dollar decreasing and if you look at actual economic output for example how much is produced in quantity and how many services offered the economy had grown at s pretty decent rate. Most people see this in their salaries as well, many people earn far more pounds per year than they did in 2008. The biggest issue in the UK is that a lot of that salary had been locked up in Housing costs which means it hasn't been able to be used in other things (food, clothes, holidays....). A lot of the people with any power own a home (some multiple) and therefore vote and lobby to not allow housebuilding in their area and block important infrastructure projects such as new roads, rail and wind turbines as it could lower their house prices. I wish they realised that if a lot more homes could be built and the prices fell their lives would improve dramatically as the economic output would be huge! All those thousands of pounds a year people would be saving on rent/mortgage/saving for a huge deposit would be spent in the economy creating hundreds of thousands of jobs for people and really boasting our economy. It would also raise far more tax and a lot of our deficit problems would be solved and public services would get a lot better. The UK is doing okay and is still a very good place to live in the scheme of things. It creates amazing companies (like deep mind) unfortunately most of them get bought by US companies and the profits go to the US as everyone in the UK investments in the US stock market or S&P 500 which helps US companies get insane amounts of funding. I am very optimistic about the UK, if we can build like crazy and sort out our expensive housing and create renewable energy so we are not so reliant on other countries for energy we will really thrive. Another huge factor that will work in favour for the UK is that it has been very successful overall in having a varied group of immigration and integrating them very well. The truth is that in every development country peope are not having enough children and 'native' population is aging very quickly without enough younger people to support them. In countries like Japan and Italy this is completely destroying the country and you now have entire villages that are empty as there were no kids to keep them alive and soon towns will go the same way. Of course there should be criteria. You wouldn't allow a terrible employee into your company but an amazing employee will be a great asset. The same with immigration, a lot of our most successful start ups( like Revolut) and companies have been founded by immigrants. In general we are an incredibly accepting and tolerant country and have far less racism than other countries in the world and this makes us a very attractive destination. In a lot of other countries to get far in your career its more about who you know rather than how you perform and there is a lot of nepotism which overall will hold those countries back.
The UK is fine, all the talk about its problems are just people who like to complain on the internet, in the big picture the UK is doing well
Landon is fine and actually doing better but UK is not*
@@redstream1237I moved from London to Bristol and my life has improved exponentially. This insane idea that life in the UK is only good in London is fictitious nonsense made up by idiots.
@@redstream1237 the UKis fine.
just for laughs… i foresee the indian youtube brigade won’t be too happy with this video haha
Nah we cool. All the people that did exploit us are already long, even the queen, although she stuck around for quite a long time. Anyways our relations with the UK have never been stronger. India is the UK's second biggest investor anf UK is the sixth largest investor in India. Also with an Indian Prime Minister Rishi Sunak in UK, I'm confident our ties will only get stronger.
The Indians would love it - they own prime UK car production brands, along with the Germans and Chinese
@@dumdumbrown4225the funniest part of it all is that south asian migrants in the UK are stauch admirers of the royal family. just see how many of them in stood in the queue to pay their final respects to the late queen, not to mention how much money they bring to the UK.
for context… the UK, with it’s 67 million population much less than madya pradesh’s 80 million, exports more goods and services in 2022 than the whole of india. source world bank & wto
Is the UK 🇬🇧 really in trouble?
What's your opinion? Don't forget that pineapple 🍍 emoji :)
1:00 so when talking about GDP you show nominal values and when talking about GDP per capita you show PPP values?
Nope. Use either one or the other for both.
UK gdp per capita is low compared to many other countries . It’s just around 45K
I am from South Africa, where is out gold and diamonds
The UK has been facing stagnation since 2007, it is still a rich economy but the decline is relative. I do not believe they have surpassed the gdp per capita they had in 2007 while others continue to climb.
They are relatively rich for now but another 16 years of this…
The UK has surpassed its 2007 per capita GDP but not by much. That’s the issue.
Thats what was said about the UK in the 60s and 70s. Then look what happened
Rich is easily said, when a lot of people are struggling to get by in their daily life
BeCaUsE iT sToLe CoLoNy rEsOuRcEs
Imagine the UKs land and resources was the size of Russia or Brazil or even China.
It is called the USA.
@@leopoldii1829 What do you mean?
@@Zohirul-Jewel The UK founded the USA as their continuation, culturally and racially, it was founded by settlers from england, just look at the names such as new england, new hampshire and so forth, so the USA is literally the UK if it had a continental size.
@@leopoldii1829 A large part of the US was actually a French colony "France ceded the rest of New France to Great Britain and Spain in the Treaty of Paris of 1763 after the Seven years war 1756-1763".
@@Zohirul-Jewel But it was the anglo saxons who colonized it. That is why they speak english and have smith as their name in Iowa and not french with the name of Pierre.
FTSE 100 and ftse 250 price looking like a bargain
Go ahead and invest before the walstreeters gobble it all up.
This sums it up: We just get by.
I lived in UK for 17 years. I could use any adjective to describe it, but I think "rich" would be the last.
You could live in Kenya mate.. what?
Rich country 🤣🤣🤣 an average man in the uk, wouldn't survival a 2months full lockdown with government hand outs😅😂
Quick question where do you get your clips from
Storyblocks :)
@@economicsinaction ty
🍍
What happened to your voice?
Jumped a few decades! I'm trying something new as I often had complaints about my voice :)
Looters
By Looting India.
😂😂 The UK lost money on India. Check out the video by the great Jewish American economist Milton Friedman on Slavery and Colonialism. Britain spent more money on the upkeep of India than any financial gains it got from India. The UK would have been richer had it not lost money on India.
@@mudra5114good, because indians have been crying that they lost £45 trillion to the UK hahahaha
@@Kevin-fq3zh Yeah. Hehe.
@@mudra5114 Milton focking Friedman? 😂😂😂. That is like listening to a Jackal "Why would it think that eating meat would be disastrous to its health". Ofcourse the Jackal would be lying.
@@morningstararun6278 Huh???
Years of colonial loot
Rubbish. The UK lost money on it's Empire.
i see the UK rejected your visa application yet again. keep trying, don’t give up!!
@@mudra5114 Actually, the UK let go of its Empire to save the colonial loot amassed within that small Island of sh*tfuckery.
@@morningstararun6278 You are farting bullshit like the monkey. There was no colonial loot. Britain was bankrupt after WW2 fighting the Germans and the Japanese and yet the economy boomed after 1947. The gap in per capita income in between India and UK has INCREASED ENORMOUSLY since 1947. The British economy was never that dependant on it's Empire but it depended on it's trade with European nations and the USA and native economic activity.
@@mudra5114 And you are farting bullshit like a typical Brit. There was no colonial loot? Then I wonder why the people in the Global south was demanding freedom, instead of protesting to keep the Britain Empire.
And as I told you in another comment, the Brits must have been some really weird inbr€ds suffering from cognitive dissonance, for the upkeep of an expensive colony, right?
I don't know what "upkeep" you are referring to, but in British India, tens of millions of people were dying left,right and center because of famines , which was the historical worst in 2000 years for India.
🍍🍍🍍🍍🍍🍍
looting country
Uhm they stole everything
The UK might be rich, but they didn't get that way on their own, their colonies helped it a lot.
Rubbish, the colonies were an economic drain.
Looting and colonization. Systematic destruction of other economics over centuries. What else?
tell me how did india fall so easily to a poor island nation of drunkards half a world away… armed with nothing but muskets & primitive cannon?
This is a common misconceptions. The UK got it's empire through innovation and being more technologically advanced than other countries. However after WW2 when the empire fell, the living standards for ordinary people in the UK increased and the UK of today is a far better place to live and far more prosperous and wealthy than that of the 1930s or 1850s. The empire definitely helped make the UK more wealthy but even without the UK would have been a very developed country. Many other countries didn't have an empire and are also very developed and have great standard of living so the advantages of having a large empire is greatly overrated.
@@YouAreJel tldr version… india is inherently screwed
@@Kevin-fq3zh oh no not at all. No people are inherently screwed. Once the right systems and governance comes countries can advance very quickly and India seems to have fixed a lot of its problems and are now modernising very quickly. In the last 10 years they have developed very high tech industries and a lot of great infrastructure. Of course it is a massive country and will take many decades for the development to reach every corner but already there are pockets of the country that are really impressive and comparable to any developed place in the world. 😊
By looting through its colonies for 400 years at least
What rubbish.
250*
If they’re quoting from the guardian this video isn’t even worth watching ! Woke remainer snowflakes !
Uk economy is large but its not rich, Most British people live in poverty. Lots of foreign millionaires store their cash in London yet many london children live in poverty. London might be rich but the UK is poor
This is a massive exaggeration but I get what you’re saying somewhat.
Y is uk so rich? Well not at present
U.K. is rich ?
Steal from others and then call yourself rich?
why did the great indian civilisation collapse so easily to western countries? almost like dominoes… no canakya around eh?
What a load of tripe!
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