The country's taxation and finance was based on its own econ
The country's taxation and finance was based on its own economy, but in modern times its economy began to operate as a unit of the world market, and the world market changed in ways that could not be controlled by any one country.
The taxation, as well as the finances, of any one country, then, can no longer be completely autonomous. Since the world market is out of your control, national policies, based on fiscal programmes, also begin to be subject to the fluctuations of the world market.
Since you can't control the world market, you can only think of ways to adapt to it, to go with the flow.
Since the world market is always in motion, you cannot tell in advance which direction it will take, and so you cannot plan ahead to follow the trend.
The only way to be able to dominate the world order is to be highly connected at the domestic and diplomatic levels, so that any changes in the external world can be fed back quickly and translated into adjustments at the domestic level.
The world market is like the sea, and this country is like a small boat. Previously, it was thought that it was only safe to stand on solid land, but now it is doing the opposite, letting itself float on the sea, with its highs and lows at the same pace as the fluctuations of the world market, and in turn being able to navigate the sea.
It's not so much navigating as adapting, doing things you couldn't do on land.
The British Empire has this capacity to navigate the sea, and this is the British Empire's cosmopolitanism that was mentioned earlier.