Download BRITISH ECONOMY

BRITISH ECONOMY
– General Survey
– Economic Policy
– Economic Decline
– Recent Economy
– The Current Economy
1. General Survey
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First Industrialized country
Mineral resources
Its advantages:
- Industrial system
- skilled workers,
- scientific management and
- advanced technology
2. Economic Policy
Mercantilism 重商主义
 Practised in the 18th & 19th Century;
 Acquisition of gold/silver
 An excess of exports over imports;
 Selling surplus goods abroad through
extensive trade;
Free trade
3. Economic Decline
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1880s: Dominant in the world.
1900: Overtaken by the US and Germany.
Since 1945: Decline? -Misleading.
A period of steady economic growth and rapidly
rising living standards.
One of G7.
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Then why say so? (4 reasons)
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4. Recent Economy
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1970s: A very bad period.
Reason: Hi inflation led to by oil price rises.
The Pound: Fall in the value, gov’t borrowed
from the IMF.
Consequence: A change of gov’t.(1979)
1980s: extensive privatization
 Recession (90-92)
 Steady growth: higher than EU.
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IMF Headquarters
5. Current Economy
1st Industries 6.4%
3rd Industries 65%
2nd Industries22%
Primary Industries
Agriculture
GDP 1.4%
 Advanced, efficient
 Limited land: 1/3 for crops,
2/3 for livestock
 Dependence on grain imports.
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Fishing
Energy
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GDP 5%
Secondary Industries
Manufacturing industries
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22% of GDP; 4.4 mil people.
Major fields:
- pharmaceuticals,
- chemicals,
- aerospace,
- food and drink,
- racing car/car-making,
- electronics.
Tertiary Industries
3rd Industry (Service Industry)
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65% of national wealth
70% of workforce (21mil. by 2000)
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73% of GDP (Feb 15,2001);
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Main sectors:
 Retailing
 Tourism
 Financial sectors (banking, stock exchange,
insurance)
 International service Provider
 Advertisement
Key Points
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Features of English Economy
Economic Policy
Relative Decline
Economy (70s-95)
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Present Economic Structure
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