BRITISH AND AMERICAN ECONOMY

BRITISH ECONOMY British is the 2° largest economy in Europe It is a member of the G8 Uk was industrialized in the 18th and 19th century After the 2° industrial revolution, Britain was the leader of the global economy Its capital, London, possesses financial importance in the world In 1980s, in Britain took place an economic boom In 2008 started a global financial crisis In 2007 The United Kingdom had the ninth highest level of GDP 1 per capita 1- GDP: Gross domestic product

AGRICOLTURE, HUNTING, FORESTRY AND FISHING Agriculture is intensive, highly mechanised, producing about 60% of food needs The crops 1 are wheat 2, barley 3, oats 4, oilseed rape 5, maize 6 for animal feeds, potatoes and sugar beet 7 The livestock are cattle 8, chickens and sheep The UK retains a significant, although vastly reduced, fishing industry 1- crops: raccolto 5- oilseed rape: colza 2- wheat: grano 6- maize: granoturco 3- barley: orzo 7- sugar beet: barbabietola da zucchero 4- oats: avena 8- cattle: bestiame

MANUFACTURING In 2003, manufacturing industry accounted for 16% of national output 1 in the UK and for 13% of employment The regions with the highest proportion of employees in manufacturing were the East Midlands and West Midlands Car industries are very important like BMW (Mini, Rolls-Royce) and Tata (Jaguar, Land Rover) Pharmaceutical industry is particularly successful Other important sectors of the manufacturing industry include food, drink, tobacco, paper, printing, publishing and textiles 1- output: produzione

ELECTRONIC INDUSTRIES TV Radio and communications products Scientific and optical instruments Electrical machinery and office machinery Computers

SERVICE INDUSTRIES Great Britain is expected to launch 1 the building of new nuclear reactors to replace existing generators The service sector is the dominant sector of the UK economy Wholesale and retail trade includes the motor trade, auto repairs, personal and household goods industries London is the world's largest financial centre, with financial services based around two districts: 'The City' (the City of London) and the Docklands 1- launch: lanciare

CURRENCY The British Prime Minister, Gordon Brown made a referendum to know if people wanted euro or sterlin The United Kingdom should not yet join the Euro

AMERICAN ECONOMY The economy of the United States is the largest national economy in the world American economy rises in the 16th, 17th, and 18th centuries In 1776 the american colonies became the United States of America

1930s  Great Depression Government tried to strengthen 1 the economy but in 1970s it went down This is a period of high inflation, high unemployment, and huge deficits In there was the worst recession about oil shocks United States entered a recession in December 2007 The United States entered 2008 during a housing market 2 correction, a subprime mortgage 3 crisis and a declining dollar value AFTER THE GREAT DEPRESSION 1- strengthen: rinforzare 2- housing market: mercato edilizio 3- mortgage: mutuo

OVERVIEW United States  mineral resources, moderate climate, fertil farm soil 1 Extensive coastlines  Atlantic and Pacific Oceans and Gulf of Mexico American banks and investors have grown their economy by investing and withdrawing 2 capital from profitable corporations Governement  protects tariffs, subsidizes 3 industry, builds infrastructures and invests in productive enterprises 1- soil: terreno 2- withdrawing: prelevando 3- subsidize: sovvenzionare

GOVERNMENT INTERVENTION The federal government uses: Monetary policy  control of the money supply 1 through mechanisms such as changes in interest rates Fiscal policy  taxes and spending 1970s: Government exercised control to private companies to improve the public's health 1- supply: offerta

DIRECT SERVICES AND ASSISTANCE The federal Government is responsible for national defense, develops new products, runs 1 numerous programs Government offers low-interest loans 2 and technical assistance to small businesses, helps students attend college 1- runs: gestisce 2- loans: prestiti

AGRICOLTURE Pork AGRICOLTURE Wheat 4 Corn Fruits Vegetables Cotton Beef 2 Pork Poultry 1 Dairy products 3 Fish Forest products 1- poultry: pollame 3- dairy products: latticini 2- beef: manzo 4- wheat: grano

EXPORTS- COMMODITIES Capital goods Automobiles Industrial supplies and raw materials Consumer goods Agricultural products

IMPORTER-COMMODITIES Crude oil and refined petroleum products Machinery Automobiles Consumer goods Industrial raw materials Food and beverages

MANUFACTURING Petroleum Steel 1 Motor vehicles Aerospace 3 Telecommunications Chemicals ElectronicsFood processing Consumer goods Lumber 4 Mining 2 1- steel: acciaio 4- lumber: legname 2- mining: industria mineraria 3- aerospace: industria aerospaziale

Margherita Cumino, Philippa Bowen Active Business, Student’s book, Petrini BIBLIOGRAPHY WEB SITES