Actually England has long accepted it doesn't rule the world/waves... any country that was 'owned/opressed' by the English is able to decide whether they wish to be part of it... those that have voted to separate, have been given leave (by the massively powerful(not) Queen) to do so. (Mostly, we still like to make it difficult for Wales seeing as it's close by and rather pretty).
As for the rest of the shite, well we owe people all over so have to be at THEIR beck and call, we're sweet well placed dawgs to many, a proud (oft over proud) stubborn bunch of bastard morris dancers to others...
We're not all that powerful. BUT just like the Scots, the Welsh, etc etc, the people who live here, are proud of where we live, and out of many of so called 'egotistical bastard' countries, we also acknowledge we've been twats...and we find we're stuck between being hated by all, understood by few, unappreciated by many (who the fuck invented the technology to bust a hole in the ozone layer? HUH? Credit where it's due) and yet, and yet.
"WE" constantly apologise, constantly take the shit that everyone throws at us, are constantly judged on things that every winner anywhere has always taken credit for, we are open, aplogetic, proud, ashamed, unique, annoyed, outspoken, eccentric. "we" are unsure, we have a conscience, we love our coasts, our cities, our eclectic peoples, our regions, we collectively try to make amends, we're ever so polite and pc, we can't BEAR to turn anyone in need away, we also welcome leeches into our cities (and don't charge them enough tax)... England is confused. Yet, in my opinion, England loves being confused, it celebrate challenge, we're not 'being' anything, we're slowly becoming something that draws on the old fairy tales, the facts, and the reality to creat a country that may not always get it right, but at least tries... for a crazily small island, I dont' think we're doing too bad.
Or have I spent too much time in the west country? 
I don't think YABU op England should stop giving a fuck about the rest of the world, we should stop aid, war, politics, discussion, trade... shouldn't we? Meh, I dunno... but I like it here, because we have a confused spirit.
Actually YABU.
If nothing else, we're painfully self aware.