City of London finance drove imperial policy, with the flag following trade

Evidence

P.J. Cain and A.G. Hopkins assert that British imperial policy was motivated by the interests of the City of London’s finance and service sectors, to protect markets against rivals, or simply that the imperial flag followed already-occurring trade routes.[xxiii] There is consensus between the two in regard to the British desire for informal control, but eventual reliance on formal control if deemed necessary. — Robin Alexander Plant, Discuss the Relationship Between…, 13

Categorization

• XREF: Gentlemanly capitalism thesis — pairs against Robinson and Gallagher’s strategic-defence explanation for a classic historiographical debate.