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Barking and Dagenham - the two neighborhoods elect separate members of Parliament but make up a single London borough council - have witnessed rapid demographic change since the last national census, in 2001. At the time, 80% of locals identified themselves as "white - British." There's been a big influx of nonwhite families since then, with many blacks and Asians - British-born as well as new immigrants - looking for cheap housing. "There's a sense of competition for finite resources," says Jon Cruddas, Dagenham's MP and a Labour Party member. "These are generic forces, but they collide in an intense form...
...when soaring inflation and unemployment forced the Labour government to seek a humiliating bailout from the International Monetary Fund. Margaret Thatcher's Conservatives took power in 1979 and went on to abolish exchange controls, cut taxes and engineer the 1986 deregulation of financial markets, known as Big Bang, restoring London's position as one of the world's most important financial centers. Blair's New Labour did nothing to restrict the unfettered growth of the City, as London's financial district is called. In 1998, Blair's adviser Peter Mandelson, now the most powerful member of Brown's Cabinet, said...
...British Prime Minister going cap in hand to the IMF. Ironically, the IMF backs Labour's more cautious approach to deficit reduction, warning in February that stimulus packages needed to be maintained "well into 2010 for a majority of the world's economies." (See pictures of the City of London...
...call to jettison the term special relationship as ruthlessly as colonists once dumped tea into Boston Harbor. The expression was coined by no less a person than Winston Churchill in 1946 to describe the intricate skeins of mutual interest, cultural heritage and sometimes gloopy sentiment that bind Washington and London. Globalization and "shifts in geopolitical power" mean that both countries are inevitably forming new and deep alliances with other players, and talk of a "special relationship" is increasingly misleading, says the report. "The overuse of the phrase by some politicians and many in the media serves simultaneously to devalue...
...States." He added, "America is still a beacon to the world for its defense of liberty and support for individual opportunity." His two main parliamentary opponents, who will square off against Brown in elections that are expected in May, have both indicated to TIME that they will recalibrate London's approach to Washington. "Blair was too much the new friend telling you everything you want to hear, rather than the best friend telling you what you need to hear," says Conservative chief David Cameron. What America needs is "the candid friend, the best friend." Liberal-Democrat leader Nick Clegg, speaking...