The Royal Navy underwrote London’s global trade

London’s commercial reach depended on sea access maintained by the Royal Navy. Naval protection allowed merchant ships to trade globally and gave insurers greater confidence in the routes on which the City’s business depended. The relationship made sea power part of the foundation of London’s financial power rather than a separate military concern. Modern Docklands has brought a major commercial centre physically close to Greenwich again. That proximity creates an irony: the economy still benefits from maritime access while governments repeatedly seek savings in the naval capacity that protects it.