During the Blair years, whenever government ministers wanted to remind voters (or possibly just themselves) of the importance of the UK, they would say – “After all, Britain is the world’s fourth largest economy.” Since then China has shot up the rankings, forcing Britain down a place. And now I see Brazil is claiming to be the world’s fifth largest economy which, if true, would mean Britain is now sixth – or possibly seventh behind France, if you use current exchange rates. To be honest, I’m losing track. Read more
© The Financial Times Ltd 2016 FT and 'Financial Times' are trademarks of The Financial Times Ltd.