1304 冯婷婷
Recent History
(1970s-1995)
The British economy went through a particularly bad period in the 1970s. 1.The oil price rises at that time led to very high rates of inflation(up to 25%) 2.The fall in the value of the UK currency (The Pound)even forced the Labour (socialist)government to borrow from the International Monetary Fund. 3.British industry ,notably the car industry ,appeared to be doing badly,with increasing imports relative to exports.
Tertiary Industry(It produce 65% of national wealth)
Divide into :1.Retailing 2.Tourism 3.Services(London Stock Exchange,one of the best shareDealing centres in the world) 4.Advertising 5.others
Negative economy→Change of government(Conservative party under Margaret Thatcher of laissez faire)→Radical programme of reform
Radical Progrsmall but effcient
1)Three quarters of Britain’s land is used for agriculture(wheat and Barley are the two commonest 2)The rest is grazing for animals(sheep are the most numerous livestock) 3)The beef industry has been hit badly by BSE disease in 1990s 4)The best agricultural land is in the south-east of England
The current recession in the UK is the longest since modern Records began in the 1950s.Some other countries,like Germany, France,Japan have all come out of recession technically and UK hasn’t. It has been suggested that the UK is lagging behind its European neighbours because the UK went into the 2008 recession Later.
1.Bureaucracy was reduced(foreign exchange controls were lifted,rules governing banks loosened,for example). 2.And throughout the 1980s an extensive programme of privatisation was carried out,with many state-owned business(such as steel ,telecom,gas,aerospace)joining the private sector. It seemed in some ways to be successful in that inflation came under control,and business, especially the newly privated business,made profit. But the negative aspect apperead as below: 1.A rapid increase in the unemployment 2.The national economy grow at lower rates than its competitors(In the recession 1990-1992,the economy even shrunk by 2.3%)
Declining employment and productivity,which caused by:
1.The rise of emerging ecomonic 2.The global ecomonic slowdown 3.Rising and materials costs
Over the past decade,British manufacturing has become Increasingly hi-tech.
2.Fishing Industry
1)It provides 55% of the UK demand for fish 2)Scottish ports land the majority of the fish caught
de
3.Energy Production 1)Oil
a.British became a major oil and gas producer since the oil and gas have been discovered under the North Sea in the 1970s(which led to UK become
The economical situation of UK
2008:The UK went into a recession in the second quarter(It’s the fist time that the UK
GDP has contracted for six consecutive quarters) 2009:The third quarter of the economy shrank by 0.2%(compared to a 0.6% fall the previous quarter)
Secondary Industry(It remains important ,producing 22% of
national wealth)
British companies are particularly strong in
1.Pharmaceuticals 2.Chemicals 3.Aerospace Britain has a big electronics industry , but like the car industry,this is in many cases foreign-owned. And high-technology engineering industry has developed around the motor -racing business.
an overall exporter of energy.
2)Coal
a.It can produced more cheaply in other countries,so UK loose its competitive advantage
3)Renewable
a.It play an increasingly important role in the electricity generated
The picture has been brighter of four years of steady growth （at rates higher than that in the rest of the EU) 1.Unemployment has now fallen to 7.7%,which is the lowest in the EU 2.Inflation has remained under control at very low levels 3.Investment has increased 4.British became an attractive location for inward investment
Division of the economic sectors 1.primary industry 2.secondary industry 3.tertiary industry/service industry
Primary Industry
Divide into 3 parts: 1.Agriculture 2.Fishing industry 3.Energy production