...
  • The article talks about the downturn in the British economy that began in the early 2000s.
  • The decline is manifested in the decline in GDP per capita and nominal wages.
  • Reasons for the downturn could be attributed to Brexit, a dysfunctional real estate market, and underinvestment in research and development.
  • Some experts point to declining public investment in R&D and austerity programs as reasons for the decline.
  • Britain is seeking to work with the US and other East Asian countries to compensate for the losses from leaving the EU.
  • However, economic stagnation in Europe and the rise of East Asia may make these strategies difficult to succeed.