Challenge: Hypothetical British Empire

Alright, this is my second post here after a long time because I thought I was banned from this site...

Anywho, I don't care about how impossible it would be for the British Empire to survive today. Its not pure ASB to think that the British Empire can survive until modern times because it doesn't break the laws of physics.

Now my question is how would the British Empire operate today in one. two, or all of these fields if it were to exist right now:

1. Economically
2. Politically
3. Foreign Relations

Feel free to produce any theories; just make sure its not pure ASB material, don't want a response saying:

"Oh the British Empire would never exist today because of blah blah. You know its only if Winston Churchill farted fire from his *** that it would happen blah blah blah."
 
It may be called the British Empire but it wouldn't be recognisable as such to someone from the beginning of last century.

Political: I'd imagine the most workable deal would be some sort of Confederate structure with Britain as Primus inter Pares. As the number of Dominions grows there'd have to be a permanent administative body for the Empire as a whole as Imperial Conferences would become increasingly unwieldy.

Economic: Free trade bloc fpr sure, perhaps even full customs union. Common currency? I think what's happening in Greece tells us that a single currency is only practical with a single government depending on the circumstances I doubt that the British Empire would become a single state. Maybe something analogous to the tobin tax for transactions within the Empire?

Foreign Relations: Now this is tricky, it depends entirely on the PoD and evolution of the Empire, which I suspect will be a relatively slow process.
 
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