Chapter 4 Economy 英語國家概況 英國文化選修課 教學(xué)課件

1、英語國家概況英語國家概況The United The United Kingdom of Great Kingdom of Great Britain and Britain and Northern IrelandNorthern Ireland The United Kingdom of Great The United Kingdom of Great Britain and Northern IrelandBritain and Northern Ireland Recent History of British Economy Current British EconomyIIICO

2、NTENT Victorian AgevMercantilism (重商主義重商主義)v a. the acquisition of gold and silver, in payment for goods exported, increased the wealth of a nation.v b. It developed the doctrine of the balance of trade.vDominant position a. 1/3 of the worlds manufactured goods. b. 1/2 of the worlds coal, iron and c

3、otton. c. shipping is greater than the sum of the rest of the world. v East India Company (東印度公司東印度公司) Recent History of British EconomyIvEconomic declinevIn the pre-war era, it was only second to US, but this indicated some sort of decline.vAfter World War II, the British economy experienced a peri

4、od of great difficulty and relative economic decline. Growth and DeclineGrowth and Decline Causes v two World Warsgreat economic loss, heavily in debt. v the era of the British Empire was overdecolonization (losses of raw material & market) v military expense (until the process of decolonization

5、 completed in the 1960s)v failure to invest in modern equipment and new products Policiesv “mixed economy” an economy in which thereis some public ownership as well as privately owned businessv During the 20th century thegovernment has become involved in the economy through introduction of social we

6、lfare policies and laws to regulate industrial relations. Policies (1945-1979)vIn 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 But it underwent a particularly ba

7、d period in 1970s, with high rates of inflation and devaluation of the pound. Result: Britains economic growth fell behind that of western European countries Policies (1979-1997)v 1979-1997 Conservative Party v Margaret ThatcherRadical economic reform sell back those industries to the private sector

8、 beat inflation (primary objective) Promote competitive spirit in economySocial welfare reduced Result: Britains economic growth still lagged behind Policies (1979-1997) “In politics if you want anything said, ask a man. If you want anything done, ask a woman.”Margaret ThatcherPolicies (1979-1997) P

9、olicies (1997-1997)v In 1997 the Labor party Tony Blair the “Third Way”: differ from the old the Labor partys nationalization reform and the conservative partys extreme individualism made the Bank of England independent emphasized on the minimum wage and supplementing low incomes emphasized individu

10、al responsibility Britains economic growth surpassed other major European countries Current British EconomyIIv the worlds 6th largest economy (2010)(after US, Japan, China, Germany and France)v The UKs people are the worlds twelfth richestv Sterlingperformed relatively well against major currencies

11、in recent years Natural Resources & Infrastructuresv Principal resourcesoil and gas(in the North Sea, on the coast of Scotland)v Large amount of coal (kept for future use)v Highly developed & efficient main road and rail network and airportsEast coast of Scotland Agriculturev Mild climatefav

12、orable environment for agriculture and stock raisingv Important cropswheat, barley,sugar beet, potatoes.v Dairy farming, fishing Manufacturingstill playing important role Energy Productionv Coalfields are mostly located in Central Scotland, Central England and South Wales.v 3 Big producers: Shell, B

13、ritish Petroleum (BP), British Gas (BG) Services industriesv Services industries, especially, business and financial servicesthe strongest performing sector in the UK economyv Londonthe strongest performing region in the UKLondonEye Financev Importance of institutions of City of London cannot be ove

14、r-emphasizedv known as the worlds leading international financial centrev Over 550 international banks and 170 global securities houses have offices in London v BANKING Finance (Cont.)v The Bank of England the central bank of the UKa nationalized industry operated on behalf of the government. contro

15、ls the currency and acts as banker both to the government and to the commercial banks aims to maintain the integrity and value of the currency, maintain the stability of the financial system and ensure the effectiveness of the financial services sector. v The London foreign exchange market is the la

16、rgest in the world, with daily turnover of $504bn in April 2001, accounting for 31% of global turnover, more than New York and Tokyo combined.Finance (Cont.) v London is the worlds largest fund management centre, and the leader in the management of overseas clients non-domestic portfolios.v Fund Man

17、agementFinance (Cont.) v Securities Dealing v London is the major centre for the international bond market. v London-based book runners accounted for about 60% of international bonds issued, with 70% of trading in the secondary market, including euro-denominated issues, also based in LondonFinance (Cont.) v London Stock Exchange Lloydsv小鐘一響小鐘一響,黃金萬兩黃金萬兩 Assignment for Unit 4vState