《英语国家社会与文化入门》上册第五单元.docx

《英语国家社会与文化入门》上册第五单元.docx

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《英语国家社会与文化入门》上册第五单元

TheUKEconomy

Text

TheUnitedKingdomofGreatBritainisamajordevelopedcapitalistcountry.Itisnowtheworld’ssixthlargesteconomyandhasagrossdomesticproduct（GDP）ofUS$2645billion（2010）andisforecasttohavethestrongestbusinessenvironmentofallmajorEuropeaneconomies,butalsoamemberoftheWorldTradeOrganization.Itisaleadingglobalnation,asthesecondlargestexporterandthirdlargestimporterofcommercialservices,andthetenthlargestexporterandsixthlargestimporterofmerchandise（2007）.

AbsoluteDeclineandRelativeDecline

Bythe1880stheBritisheconomywasdominantintheworld,producingonethirdoftheworld’smanufacturedgoods,halfitscoalandiron,halfitscotton.TheamountofBritishshippingwasgreaterthanthatintherestofthewordputtogether.Butevenby1990thiswasnolongerthecase,theUKhavingbeenovertakenbyboththeUnitedStatesandGermany;andcertainlyfrom1945untilthepresent,thestoryoftheUKeconomyisusuallythoughtofasoneofdecline.Thisisunderstandablebutrathermisleading,asithasinfactbeenaperiodofsteadyeconomicgrowthandrapidlyincreasinglivingstandards.BritainremainsoneoftheGroupofSevenlargeindustrialeconomies.Buttherearereasonsfordescribingthisperiodasoneofdecline.Britainenteredthepost-warworldasoneofthesuccessfulalliesoftheSecondWorldWar,withsomeofitschiefcompetitornationssuchasGermanyandJapan,economicallydestroyed.AlsoBritainwasthecentreofastillvastempire.Accordingtothefigures,TheUKwassecondonlytotheUnitedStatesintheinternationaleconomy.ThusBritainwastheninanapparentlystrongeconomicposition,apositionitclearlynolongeroccupies,whichindicatessomesortofdecline.

Butthebasicpositive-seemingfactsdescribingthesizeoftheeconomy,thehighproportionoftheworldtradethatwasBritish,andsoon,in1945,didnotrevealimportantnegativefactsabouttheUK’spositioneventhen.Firstlythecountryhadgoneheavilyintodebtinordertofinancethewar,sellingmanyofitsaccumulatedoverseasassets,andborrowinglargeamountsfromtheUnitedStatesandCanada.ThesedebtsmeantthattheUKenteredthepost-warerawithamajoreconomicproblem.

Secondly,theeraofempirewasover.India,popularlyknownas―TheJewelintheCrown‖oftheBritishEmpire,gaineditsindependencein1947,only2yearsaftertheendofthewar.Thiswasthelargestelementintheempire,providingrawmaterialsandabigmarketforBritishgoods.ThisrelationshipwithIndiawasnolongeravailable,andtherestoftheempirequicklyfollowedIndiatoindependence,leavingBritainasjustamedium-sizeEuropeancountry,withapopulationonlyonefifththesizeoftheU.S.

Thirdly,despitetherelativelyrapidandtrouble-freeprocessofdecolonization,Britainwasstillforcedtomaintainasubstantialandexpensivemilitarypresenceinmanyoverseaslocationsuntiltheprocesswascompleted（mostlybytheendofthe1960s）.Alsoitspositionasoneoftheshapersofthepost-warworldrequiredsubstantialmilitarycontributions-bothasoneofNATO’smajorpartners,andasamemberoftheUNSecurityCouncil.AllthishadtheresultthatBritainspentahigherproportionofitsnationalwealth（andespeciallyofitsresearchanddevelopmentbudget）onthemilitarythanmostofitscompetitors.Militaryexpendituretendsnottogenerateaneconomicreturninquitethesamewayasotherindustrialinvestment.Fourthly,althoughBritainwasquitebadlydamagedbyGermanbombingduringthewar,itsindustrysurvivedcomparativelyunaffected.Thiscontrastedgreatlywithsomeofitscompetitors—especiallythemainlosersintheconflict,GermanyandJapan,whoalmosthadtostartagainfromnothing.Thisapparentdisadvantageforthemmayhaveworkedintheirfavourinthatastheyhadtoinvest,theycouldinvestinthemostmodernequipmentandnewproducts.Britishindustryhowevercouldcontinuewithitsolderfactoriesandpre-warproducts,andgivenitsothereconomicproblems,didso—aprobleminthelong-term.Italsomeantthatoutputwasinitiallyverylowpotentiallylargeeconomies:

sowhileBritainlookedsecurelywealthierthanthemin1945,acatching-upwiththeUKwasinevitableastheyrecovered.

Thisfailuretoinvestsufficientlyinindustryalsoreflectsalong-standingandcontinuingproblemintheUKeconomy.Evenwithouttheparticularcircumstancesofthepost-warworld,relativelylowratesofinvestment（theamountofmoneybusinessputasidefromprofitstoreinvestinthebusinessinnewproductsandproductionmethods）werecharacteristicoftheBritisheconomyinrelationtootherdevelopedeconomies.EconomistshavepointedtothelackofacloserelationshipbetweenindustryandbanksintheUK—againacontrast,particularlywiththetwomostsuccessfulpost-wareconomies,JapanandGermany,wherebanksandindustrialfirmshaveverycloselinks.EconomichistorianshavesuggestedthatthismaybeduetothefactthattheUKwasthefirsteconomytoindustrialize,andindustrialfirms,withoutforeigncompetition,grewusedtofinancingtheirowndevelopment,withoutneedtoborrowfrombanks.Bankstherefore,notabletofindgoodinvestmentopportunitiesintheUK,lookedoverseasforinvestmentopportunities.AlowrateofdomesticindustrialinvestmentcoupledwithaveryhighrateofoverseasinvestmentisstillacharacteristicoftheUKeconomy.So,amongstEuropeannations,BritainisthelargestinvestorinChina,butsellsfewerofitsownmanufacturedgoodsherethandoGermanyorFrance.

ThepointtonoteisthatthecomparativelystrongeconomicpositionBritainfounditselfin1945wasinmanywaysdeceptive.SothedeclinefromBritain’sapparentlygoodfortunesatthatpointuntilnowisthusnotasextraordinaryasitmightseem,beingtheresultofalreadyexistingbasicproblems.Anditshouldalsoberememberedthatthiswasnotanabsolutedecline:

Britainisnotpoorer,orproducinglessthanitwasin1945,infact（likemostcountries）itisalotwealthierandmoreproductivethanitwasthen.Theproblemisthatthoughishasimproved,othercountrieshave

improvedmorerapidly,hencetheslideformbeingthe2ndlargesteconomy（aftertheUnitedStates）tobeingthesixth,asitisatpresent.AndevenmanysmallereconomieshaveovertakentheUKintermsofoutputperheadofpopulation.SotheUKhasexperiencedeconomicdecline,butthisdeclineisrelativetosomeothereconomiesratherthanabsolute.Nevertheless,thisrelativefailureisaseriouscauseofconcerntotheUKgovernments.

RecentHistory

TheBritisheconomywentthroughaparticularlybadperiodinthe1970s.Theoilpricerisesatthattimeledtoveryhighratesofinflation（upto25%）.Thiscausedmanyworkerstostrikeformorepay.ThefallinthevalueoftheUKcurrency（ThePound）evenforcedtheLabour（socialist）governmenttoborrowfromtheInternationalMonetaryFund.Britishindustry,notablythecarindustry,appearedtobedoingbadly,withincreasingimportsrelativetoexport.Allthesenegativeeconomicfactsledtoachangeofgovernmentatthenextgeneralelection,in1979,whentheBritishpeoplevotedintheConservativepartyunderMargaretThatcher,withthepromiseofaradicalprogrammeofreform.Bureaucracywasreduced（foreignexchangecontrolswerelifted,rulesgoverningbanksloosened,（forexample）.Andthroughoutthe1980sanextensiveprogrammeofprivatizationwascarriedout,withmanystate-ownedbusinesses（suchassteel,telecom,gas,aerospace）joiningtheprivatesector.Itseemedinsomewaystobesuccessfulinthatinflationcameundercontrol,andbusinesses,especiallythenewlyprivatizedbusinesses,madeprofits.Thenegativeaspectwasarapidincreaseinunemployment,risingtoalmost12%atitsworst.Sowhilecompaniesweremoreefficient,producingthesameamountwithlessworkers,andthereforebeingabletopayhigherwagesandmakehigherprofits,thecostwaspaidbytheunemployedwhohadtoliveonlowincomesfromstatesupport.Thenationaleconomyasawholecontinuedtogrowatlowerratesthanitscompetitors.Intherecession1990-1992,theeconomyevenshrunkby2.3%.

Sincethenhowever,thepicturehasbeenbrighter,withfouryearsofsteadygrowth,atrateshigherthanthatintherestoftheEU.Unemploymenthasnowfallento7.7%,whichisamongthelowestintheEU.Inflationhasremainedundercontrolatverylowlevels.Investmenthasincreased,encouragedbylowinterestrates.Britain’smembershipoftheEUhasalsomadeitanattractivelocationforinwardinvestmentbycompaniesfromoutsidetheEU（especiallytheUSandJapan）,ofwhichithasreceivedalargersharethananyotherEUcountry.OverallitissecondonlytotheUSasadestinationforinternationaldirectinvestment.Itisalsoitselfamajorsourceofinternationalinvestment—infactitisthesecondbiggestinternationalinvestorintheworld（1995）.

TheCurrentUKEconomy

Nationaleconomiescanbebrokendownintothreemainareas:

―primary‖industries,suchasagriculture,fishing,andmining;―secondary‖industries,which

manufacturecomplexgoodsfromthoseprimaryproducts;andtertiaryindustries,oftendescribedasservices,suchasbanking,insurance,tourism,andthesellingofgoods.

Britain’sagriculturalsectorissmall（producing1.4%ofthenationalwealth）butefficient,producing58%oftheUK’sfoodneedswithonly2%ofitsworkforce.TherequartersofBritain’slandisusedforagriculture,withaboutaquarterofthatundercrops-wheatandbarleyaretwocommonest.Therestisgrazingforanimals,includingcattle（bothdairy,andbeef）,thoughs