A wave of corporate bankruptcies has hit the UK, and high inflation has triggered radical interest rate hikes. About 13,000 companies have closed down in the first half of 2023. The Federal Reserve's interest rate hike triggered the Bank of England to follow suit. High inflation and rising interest rates inhibited consumption and made it more difficult for businesses to operate. The British economy may enter a death spiral, with high unemployment and declining prosperity. British government debt has risen rapidly, accounting for more than 100% of GDP in 2020, and will continue to rise above 107.7% in 2021. High levels of debt and financial risks in the UK require great attention. What do you think of this issue? Feel free to chat in the comment area.