Could be. That England and France lose their empires after being bloodied in WW2 supports that claim. I’d argue that if they could’ve retained their empires, they would have recovered though. They both came back out of WW1 afterall.
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Suez fits the latter. UK or FR don’t try anything on that scale again after they lose their empires a decade later. They just didn’t have the industrial, resource or manpower relevance without them.
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