The UK

Following the Industrial Revolution in Europe and later the establishment of colony in India in 1757, the United Kingdom (UK) witnessed a sharp rising in economic growth which made it one of the most prosperous nations of the West. During their colonial age in India and in other parts of the globe, the British people explored the entire colonized lands and funneled all the valuable resources to their country of origin, the UK. They continued this plundering and destroying the colonized countries to the full scale until the mid-twentieth century. As for example of looting the colonial states, the present British Queen's Crown (Kohinoor of the Mughal Emperor of India) still reminds us that smudgy vestige. With the end of colonial age, the economic crisis was loomed in Europe. After the Vietnam War the world economy was stumbled down hitting the recession as well as inflation that was termed as stagflation. In the subsequent years, the economic conditions of the UK had been continuously deteriorated which is now at its abyss. Many countries such as Greece, Portugal, Spain, Italy and many others are now on the verge of bankruptcy. Similar fate is knocking at the British door as well.