1. BRITISH ECONOMY General Survey Economic Policy Economic Decline
Recent Economy
The Current Economy

2. 1. General Survey First Industrialized country Mineral resources
Its advantages:
- Industrial system
- skilled workers,
- scientific management and
- advanced technology

3. 2. Economic Policy Mercantilism 重商主义
Practised in the 18th & 19th Century;
Acquisition of gold/silver
An excess of exports over imports;
Selling surplus goods abroad through
extensive trade;
Free trade

4. 3. Economic Decline 1880s: Dominant in the world.
1900: Overtaken by the US and Germany.
Since 1945: Decline? -Misleading.
A period of steady economic growth and rapidly rising living standards.
One of G7.
Then why say so? (4 reasons)

5. 4. Recent Economy 1980s: extensive privatization Recession (90-92)
1970s: A very bad period.
Reason: Hi inflation led to by oil price rises.
The Pound: Fall in the value, gov’t borrowed from the IMF.
Consequence: A change of gov’t.(1979)
1980s: extensive privatization
Recession (90-92)
Steady growth: higher than EU.
IMF Headquarters

6. 5. Current Economy

7. Primary Industries Agriculture Fishing Energy GDP 1.4%
Advanced, efficient
Limited land: 1/3 for crops,
2/3 for livestock
Dependence on grain imports.
Fishing
Energy
GDP 5%
                                                                              

8. Secondary Industries Manufacturing industries
22% of GDP; 4.4 mil people.
Major fields:
- pharmaceuticals,
- chemicals,
- aerospace,
- food and drink,
- racing car/car-making,
- electronics.

9. Tertiary Industries 3rd Industry (Service Industry) Main sectors:
65% of national wealth
70% of workforce (21mil. by 2000)
73% of GDP (Feb 15,2001);
Main sectors:
Retailing
Tourism
Financial sectors (banking, stock exchange, insurance)
International service Provider
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10. Key Points Features of English Economy Economic Policy
Relative Decline
Economy (70s-95)
Present Economic Structure