Why did England begin to lose industrial leadership?

This was due to the competition of rapidly developing Germany and the USA, as well as to technological lag and lack of capital in industry. It turned out to be more difficult to upgrade existing machines than to introduce them almost from scratch, as in other European countries. If in England any machine broke down, it was easier to replace it with a new one, but the same as to put a technically more advanced machine and change the entire technological chain because of it. All this would be worth a lot of money that I didn’t want to spend, because buyers in the colonies would buy products manufactured on obsolete machines. It was more profitable for the British to invest money somewhere abroad than to modernize their own industry. Meanwhile, the industries of the Second Industrial Revolution demanded huge investments, and England began to lag behind Germany and the United States.

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