《英语国家概况》Chapter4

《英语国家概况》Chapter4整体总结，包括Recent History of British Economy和Current British Economy两个部分。

UK Economy

Recent History of British Economy

Economic decline

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（联合国安理会）

Britain failed to invest in industry after world War two

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

1945-1979

In 1945, the labor party

carried out drastic reforms

nationalize key industries (such as coal, steel and transport)

laid the foundation for postwar British social and economic development

Result: Britains economic growth fell behind that of western European countries

1979-1997

1979-1997 Conservative Party

Margaret Thatcher

Radical economic reform

sell back those industries to the private sector beat inflation (primary objective)

Promote competitive spirit in economy

Social welfare reduced

Result: Inflation came under control, recovery, but its economic growth still lagged behind

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

made the Bank of English independent

emphasisized on the minimum wage and supplementing low incomes

emphasized individual responsibility

Britain's economic growth surpassed other major European countries

Current British Economy

the world's fish largest economy (after US, Japan, Germany, China)

The UK's people are the world's twelfth richest

Sterling（英镑）——performed relatively well against major currencies in recent years

Natural Recourses & Infrastructures

Principal recources-oil and gas

Large amount of coal

Highly developed efficient main road and rail network and airports

Agricultural

Mild climate

favourable environment for agricultural and stock raising

Important crops

wheat, barely, sugar beet, potatoes

playing important role

dairy farming, fishing manufacturing

However, the beef industry was crippled

Energy Production

shell, British Petroleum(BP), British Aas(BA)

Services Industries

London-the strongest performing region in the UK

Finace

London

the Bank of England, The London foreign exchange market, Fund management, Security Dealing