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Another British Abroad Territory, Gibraltar, is a key army base; a referendum in 2002 on shared sovereignty with Spain was rejected. The UK was the third nation to develop a nuclear weapons arsenal, with its first atomic bomb test, Operation Hurricane, in 1952, though the post-war limitations of Britain’s worldwide position have been illustrated by the Suez Disaster of 1956. Over the subsequent three many years, most colonies of the British Empire gained their independence, and lots of grew to become members of the Commonwealth of Nations. The war left the UK severely weakened and financially depending on the American Marshall Plan, nevertheless it was spared the whole warfare that devastated japanese Europe.
The country’s tourism sector is necessary to the British financial system; The artistic industries accounted for five.9 per cent of the UK’s GVA in 2019, and contributed £111 billion to the UK economy in 2018. Edinburgh, the UK’s second-largest financial centre, ranks twenty ninth on the earth in the identical index. London can be one of many world’s leading financial centres, ranking second within the 2025 International Monetary Centres Index. It is the largest urban financial system in Europe and, alongside New York, the town in the world most integrated with the worldwide economic system. As of 2023 it’s the world’s second-largest exporter of companies and in 2024 was the world’s largest internet exporter of financial providers. Despite having one of many highest levels of revenue inequality in the OECD, the UK has a really excessive HDI ranking, together with when adjusted for inequality.
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