Manufacturing
The US manufacturing industry is the largest in the world, almost 3 times the size of Japan.
1. one quarter of GNP
2. one quarter of the national income
American Economy General Survey
Structure of the economy
1. Privately-owned business 2. State-owned business 3. non-profit organizations
American Economy General Survey
4. By 1998 the gross federal debt has reached $ 2 trillion
5. interest on the federal debt is over $ 150 billion a year.
American Economy Industries
1. Sectors of American Industries 2. Distribution of industries 3. Major Industrial Cities 4. Factors of the Development of
American Economy General Survey
Deficit
American economy is deficit financing.
1. $23 billion during WWⅠ
2. $13 billion more during the 1930s
3. $200 billion more during WWⅡ
Position of the American Economy 1. “superpower” in world affairs 2. dominant position of the dollar
“Bretton Woods System”
布雷顿森林体系/布莱登国际货币制度
American Economy General Survey
American Economy Industries ------Sectors
Aviation
1. US has the largest aviation industry in the world.
2. Major aircraft companies:
Boeing, McDonald Douglas
Meanwhile the textile industry and heavy industry also developed.
American Economy Industries ------Cities
New York Pittsburgh Chicago Detroit Dallas and Houston Seattle San Francisco and Los Angeles
3. coal supply from west Virginia
cheap water transportation provided by the Great Lakes and rivers.
They constitute the base for the development of industry in the region.
Industries
American Economy Industries ------Sectors
1. Manufacturing 2. High Technology 3. Heavy Industry 4. Aviation 5. Car Industry
American Economy Industries ------Sectors
3. over 1/5 of the US work force
American Economy Industries ------Sectors
High Technology
1. one of the world leaders in the high technology, in the areas of telecommunication, electronics, computer chip research and manufacturing and software development.
Adam Smith Alexander Hamilton Early American industries Second development A Third development A fourth development New era for the United States
3. Space shuttles still lead the world’s space navigations.
American Economy Industries ------Sectors
Car Industry
1. “Big Three” motor vehicle companies
“ Ford” “General Motors ( GM) ” and “ Chrysler”
2. large, spacious and high-powered
3. the influx of Japanese cars and spare parts is the main cause of America’s $60 billion trade deficit with Japan.
American Economy General Survey
Inflation Inflation is a general rise in the prices
of goods ad services, the real or purchasing power value of money is reduced. E.g. Three dollars are necessary today to buy what two dollars bought yesterday.
American Economy Industries ------Cities
New York
1. the largest city
2. the largest seaport
American Economy Industries ------Cities
Pittsburgh
1. another important industrial city in Pennsylvania
Chapter 3 American Economy
American Economy
Contents: 1. Industrial Revolution 2. General Survey 3. Industries 4. Agriculture
American Economy
Industrial Revolution
American Economy
Industrial Revolution
“The Wealth of Nations”
Adam Smith
American Economy General Survey
1. The structure of the economy 2. The position in the world 3. Inflation and Deficit
Bretton Woods System 1. most major currencies are pegged to the US dollar 2. the dominant position of the dollar was formally
established in the Bretton Wood system which was held in 1945 at Bretton Woods in New Ha. The conference also set up the IMF (International Monetary Fund), the World Bank, and GATT( the General Agreement on Tariffs and Trade), later known as WTO, it is a world trading system.
Heavy Industry
Heavy industry around the Great Lakes depends heavily upon 3 resources.
1. iron ore from the Lake Superior
2. coal supply from the Allegheny hills of western Pennsylvania
3. largest food-processing center
4. famous for its clothing industry.
American Economy Industries ------Cities
Detroit
1. the world’s car capital
American Economy Industries ------Cities
Chicago
1. border on lake Michigan and the third largest city in US.
2. most important industrial and commercial city in the Middle West.