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1、1. When was the British economy dominant in the world?1. By what time was the UK overtaken by other countries, such as the US and Germany?2. Which country does it refer to as the Jewel in the Crown? When did it gain its independence? 1. What does The City refer to according to the text?Absolute Decl
2、ine and Relative Declinen British economic position in the globe between the 1880s to 1900 (victorian age): dominant positionn from 1900 to 1945 (the Pre-war era) only second to the U.S.A in the international economy, this indicated some sort of decline相对衰退 having been overtaken by the U.S. and Germ
3、any after 1945, Britain entered the post-war world, economically destroyed Britain was the centre of a vast empire, strong economic position, which is no longer the case.Causes for the decline1. gone into heavy debt to finance the2nd war: sold overseas assets, borrowed from US and Canada2. British c
4、olonies which used to provide raw materials and big markets gained independence.3. high proportion of its national wealth is put into military expensesMilitary presence during decolonisation Membership requiry: NATO and UN security council4. Failed to invest sufficiently in industry: reason: lacked
5、the investment in modern equipment and new products. industry survived, continued its older factories and pre-war products; Low output in old industries. long-standing economic problem - a lack of close relationship between banks and industries. low rates of domestic industrial investment; high rate
6、 of overseas investmentRecent Historyn 1970s: oil prices up, led to high rates of inflation, strikes for high pay, the currency value fell. The car industry did badly, led to a change of government.n 1980s: the reformation under Magrett Thatchers government, privatization was carried out. Many state
7、-owned business (steel, telecom, gas, aerospace ) were turned into private companies. The policy was effective in controlling inflation but resulted in large scale unemployment )n 1997-2007: the steady and well development in economy under Blairs governmentIII The Current UK Economy n After the rece
8、ssion 1990-1992, the economy had a steady growth. The UK is the 2nd only to the U.S as a destination for international direct investment. 1.(1990-1992) -recession衰退- the economy shrunk by 3% 2. (1992- 1996)- steady growth 3. in1996 -greatly affected by the ban on beef exports resulted from BSE Disease疯牛病 in Cattle industry.
UNIT5英美概况复习提纲
