Can Hong Kong break London’s maritime insurance grip? (opens in new tab)

The once-mighty Royal Navy is now but a shadow of its former self, plagued by years of budget cuts and management scandals. It has shrunk to its smallest size since the Napoleonic Wars. Lord Nelson must be turning in his grave. Yet despite the sorry state of its fleet, Britain remains the lord of the seven seas, albeit in a different fashion. Together, the Anglo-Saxons on either side of the Atlantic control the oceans and global shipping without needing to deploy a single vessel – a phenomeno...