How to make Britain great again
Rejoin the customs union, poach American academics and unashamedly champion democracy – here’s how Lewis Liu would respond to Trump’s trade war…
Fortunes are made in the rise and fall of empires, and it is in this particular moment – as we sadly see the great American empire shaken – that a once-in-a-century opportunity emerges for Britain.
Recently I have had countless conversations across the entire political spectrum in the US regarding Trump’s tariff regime. The reactions range from complete despair and disbelief to nationalistic exuberance, celebrating America’s reclaiming of control from perceived freeloaders. The reality, however, is more nuanced. The US has indeed ceded too much knowledge on high-value manufacturing to China and even Germany. Europe, for its part, has overly relied on the US security umbrella. Meanwhile, as China produces 3.5m STEM graduates annually, American universities have become entangled in destructive cultural conflicts. Addressing these issues doesn’t require discarding the last 80 years of America’s meticulously built exorbitant global privilege as the world’s reserve currency and rule-setter. But alas, here we are. So, what should Britain do about it to emerge once again as a pre-eminent liberal democratic power?
Reclaim globalisation
Globalisation is either dying or evolving into something unrecognisable. During Brexit, I was a staunch Remainer. But one strand of the pro-Brexit argument did resonate: the liberal vision of a “Singapore-on-Thames” – a global Britain, free from Brussels red tape. That vision may still be within reach. In this post-tariff world, Britain should throw open its doors to trade, reassert London as the financial capital of the world, and position itself as a strategic bridge between the US and Europe.
First, I would normalise relations with Europe – and I would even consider rejoining the customs union. In a world of rising tariffs, the UK and Europe need each other. Britain needs access to the single market; Europe needs a bridge to the US. The UK holds a unique position: London remains Europe’s financial capital and Britain enjoys a historically stronger relationship with Americans, who still rank the UK as their most trusted ally in recent polls. This positioning gives British businesses and consumers the best of both worlds: access and control.
Second, rebuild London as the undisputed preeminent financial capital of the world. Abolishing Libor was a strategic blunder – why did Britain surrender regulatory control over the most widely used financial benchmark (at its peak, underpinning instruments worth 20x US GDP) just to appease a wave of populist outrage? The damage is done, but the City still has leverage. It can recalibrate by easing unnecessarily stringent regulatory and tax constraints and doubling down on its leadership in fintech. I recently had coffee with Janine Hirt, CEO of Innovate Finance, the UK’s leading fintech trade body, who said: “With the current uncertainty in the US, there is a huge opportunity for the UK to strive forward and cement our leadership position as the best place in the world to start, build and scale a fintech.” She’s absolutely right.
Win the global talent war
Everyone knows what’s happening to US universities. I come from an ethnic minority and I’m deeply supportive of marginalised groups, but the rise of toxic cancel culture has badly undermined what was, at its core, a well-intentioned progressive agenda. In that sense, I sympathise somewhat with the Trumpian critique of woke overreach. At the same time, world-class universities are one of the clearest leading indicators of national power – and the US is squandering this critical asset.
I did my undergraduate degree at Harvard and my PHD at Oxford. It pains me to say this, but from a pure “win the game” perspective, the UK must aggressively poach American academics. Now. According to the journal Nature, 75 per cent of American scientists are considering leaving the country. Why shouldn’t they come to Britain? Across every global ranking THE, QS, US News, Shanghai – only British universities consistently compete with the US for the top spots. English is the lingua franca of science and academia. UK institutions are already global in character. The opportunity is sitting there waiting to be taken.
Sadly, Britain’s response has been lacklustre. Oxford’s quote in the FT on this topic was deeply underwhelming, complaining about “being strapped for cash”. Britain needs to act now to aggressively secure public funding and private philanthropy to attract 10,000 top-tier American scientists to the UK within 24 months. British universities need to take a lead from Americans: play to win.
And it’s not just Americans. With the US increasingly seen as unstable, Britain should be the natural landing zone for global talent. The post-Brexit visa schemes for highly skilled individuals must be fully deployed and aggressively promoted. Every government official, every business leader, every Briton needs to help reverse the brain drain of the past few years. This is an economic and strategic imperative.
Be the beacon of democratic ideals
Many in London and across the UK sense that Britain is uniquely positioned to benefit from the coming geopolitical shift, due to geography, institutional depth and alignment with enduring European values.
Geographically, the UK is insulated from the most volatile flashpoints. It is far from any future US-China conflict in the Pacific and distant enough from the Russian front lines to maintain strategic stability. In an era of accelerating climate disruption, the UK is also predicted to remain relatively mild and livable, according to most simulations.
Institutionally, Britain’s government remains less susceptible to corruption, with a deeply rooted respect for judicial independence and basic human rights. English common law continues to serve as the global default for contracts and governance; this status is only likely to strengthen amid growing perceptions of US instability.
Some Americans mock Europe’s preference for peace and civility as “PATHETIC” (to quote a recent Signal message). But peace is a precondition for lifting people out of poverty and improving the human condition. My bet is huge parts of the world will increasingly bet on stability and peace.
That said, Europe and Britain must pair these ideals with capability. If we want to protect and project genuine liberal democratic values, we need to develop a credible, independent military presence. Peace must be preserved not just through words, but through strength.
I’ve written at length about the need for Britain to take more risks. This is its moment. A once-in-a-generation chance to step up, not as a nostalgia project of the lost troubled Empire, but as a confident, forward-looking power. Fortune favours the bold. The question is: will Britain be bold enough to seize it?
Dr Lewis Z. Liu is co-founder and CEO of Eigen Technologies