• made the Bank of England independent • emphasized on the minimum wage and supplementing low incomes • emphasized individual responsibility
Britain’s economic growth surpassed other major European countries
A Guide to English-Speaking Countries
Policies (1979-1997)
“In politics if you want anything said, ask a man. If you want anything done, ask a woman.”
—Margaret Thatcher
a forum for the governments of the world's eight wealthiest countries that originated in 1975 Before Russia was added to the group in 1997, it was known as the G7. Members: France, Germany, Italy, Japan, the United Kingdom, the United States, Canada and Russia Leaders of the G8 discuss major economic issues in an informal setting. The agenda has changed depending on international circumstances—e.g., the oil crises in the 1970s.
CONTENT
I
Recent History of British Economy
II
Current British Economy
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A Guide to English-Speaking Countries
Group of 8
Foreign Language Teaching and Research Press
A Guide to English-Speaking Countries
Policies (1997-1997)
In 1997 the Labor party Tony Blair the “Third Way”: differ from the old the Labor party’s nationalization reform and the conservative party’s extreme individualism
Foreign Language Teaching and Research Press
A Guide to English-Speaking Countries
Energy Production
Coalfields are mostly located in Central Scotland, Central England and South Wales. 3 Big producers: Shell, British Petroleum (BP), British Gas (BG)
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A Guide to English-Speaking Countries
BSE (Bovine spongiform encephalopathy, 疯 牛病)
First recognized in cattle in the United Kingdom in 1986, BSE became epidemic there, particularly in southern England. Leading to a ban on beef exports until 2006.
East coast of Scotland
Large amount of coal (kept for future use)
Highly developed & efficient main road and rail network and airports
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Foreign Language Teaching and Research Press
A Guide to English-Speaking Countries
Policies
“mixed economy” an economy in which there is some public ownership as well as privately owned business During the 20th century the government has become involved in the economy through introduction of social welfare policies and laws to regulate industrial relations.
behind
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Policies (1979-1997)
Foreign Language Teaching and Research Press
A Guide to English-Speaking Countries
Natural Resources & Infrastructures
Principal resources—oil and gas (in the North Sea, on the coast of Scotland)
•nationalize key industries (such
as coal, steel and transport)
laid the foundation for postwar British social and economic development
Result: Britain’s economic growth fell behind
The UK's people are the world's twelfth richest
Sterling—performed relatively well against major currencies in recent years
Foreign Language Teaching and Research Press
Foreign Language Teaching and Research Press
A Guide to English-Speaking Countries
Causes
two World Wars—great economic loss the era of the British Empire was over— decolonization (losses of raw material & market) military expense (until the process of decolonization completed in the 1960s) substantial financial contributions to NATO and U.N. Security Council (联合国安全理事会） Britain failed to invest in industry after World War II
G8 Summit 2013
Foreign Language Teaching and Research Press
A Guide to English-Speaking Countries
Recent History of British Economy
Economic decline After World War II, the British economy experienced a period of great difficulty and relative economic decline.
• sell back those industries to the private sector beat inflation (primary objective) • Promote competitive spirit in economy
Social welfare reduced
Result: Britain’s economic growth still lagged
Agriculture
Mild climate—favorable environment for agriculture and stock raising Important crops—wheat, barley, sugar beet, potatoes Dairy farming, fishing Manufacturing—still playing important role However, the beef industry was crippled by BSE(疯牛病）.