International Risks to the British Economy: Beyond Traditional Barriers

The risk of foreign interference is on the rise in the global landscape, and the United Kingdom is not immune. Recently, the UK added interference in the democratic process to its National Risk Register, alongside other perils such as cyberattacks and pandemics. While analysis traditionally focuses on powers like China, Russia, Iran, and North Korea, British parliamentarians have highlighted that other states are also actively attempting to influence internal policies. According to Lord Wallace of Saltaire, this issue extends beyond traditional adversaries; it even encompasses allies like the United States and the UAE. In a macroeconomic context where financial globalization plays a crucial role, this risk of external influence can have significant implications for the UK's economic balance. The increased activity of foreign non-governmental organizations and think tanks suggests that international actors and individuals are becoming more active in British politics, necessitating broader regulatory oversight.