Toward A Lesser Britain

It's no surprise that my cover story in Newsweek International this week has caused a stir in Britain. Much of the reaction has been favorable, but some commentators were predictably riled by the piece and responded with assertions that were more over the top than they said my story was. Note this from the perpetually outraged Simon Heffer: "Newsweek has an article this week under the headline 'Forget the Great in Britain,' which would have the reader believe that we are all on the verge of a collective suicide."

Not quite - so let me repeat my main thesis. Had it not been for first the Cold War and Britain's extraordinary relationship with America, Britain would have long ago had to give up the disproportionate role it has played in world affairs since World War II. When the Cold War ended, Britain carried on as a pocket superpower, close at America's side. After Iraq and Afghanistan, the British people are keen to a little distance between themselves and American military adventures abroad. America, for its part, is forming new alliances, new special relationships, as big, emerging economies become increasingly powerful. What's more, those countries are demanding, and getting, seats at the top table where Britain was one of the lucky few regulars.

Then along came the financial crisis, the bailout of the banks, and the ensuing recession - which will leave Britain in excruciatingly deep debt for a decade. My conclusion: Britain will have to readjust its priorities and rethink its role in the world, becoming in the process a lesser Britain - a Britain great in many ways, but not quite the Great Britain of the postwar period.