51:The UK Economy 1.Relative decline of the UK economy The UK has experienced an economic decline since 1945.But this is a relative decline rather than an absolute one.Britain is wealthier and more productive than it was in 1945,but since other countries developed more rapidly,it has slid from being the second largest economy to being the sixth
51: The UK Economy 1. Relative decline of the UK economy ◆ The UK has experienced an economic decline since 1945. But this is a relative decline rather than an absolute one. Britain is wealthier and more productive than it was in 1945, but since other countries developed more rapidly, it has slid from being the second largest economy to being the sixth
52.Causes for the relative decline There are four reasons for the relative economic decline since 1945:Britain had gone heavily into debt in order to finance the war;British colonies which used to provide raw materials and big markets gained independence.And the author also believes that Britain was heavily burdened with the huge military expenditure during the process of decolonization and that Britain also lacked the investment in modern equipment and new products
52. Causes for the relative decline ◆ There are four reasons for the relative economic decline since 1945: Britain had gone heavily into debt in order to finance the war; British colonies which used to provide raw materials and big markets gained independence. And the author also believes that Britain was heavily burdened with the huge military expenditure during the process of decolonization and that Britain also lacked the investment in modern equipment and new products
53.Privatization in the 1980s ◆ The British economy went through a particularly bad period in the 1970s,with high rates of inflation and devaluation of the currency.Therefore,in the 1980s,when the Conservative party under Margaret Thatcher was in power,an extensive programme of privatization was carried out.Many state-owned businesses (such as steel,telecom,gas,aerospace) were turned into private companies.The author thinks that privatization was successful in controlling inflation but at the same time unemployment rate increased rapidly
53. Privatization in the 1980s ◆ The British economy went through a particularly bad period in the 1970s, with high rates of inflation and devaluation of the currency. Therefore, in the 1980s, when the Conservative party under Margaret Thatcher was in power, an extensive programme of privatization was carried out. Many state-owned businesses (such as steel, telecom, gas, aerospace) were turned into private companies. The author thinks that privatization was successful in controlling inflation but at the same time unemployment rate increased rapidly
54.Margaret Thatcher ◆ She was the Prime Minister elected in 1979.She led her Conservative government to carry out a radical programme of reform. Foreign exchange controls were lifted,rules governing banks loosened and many state- owned businesses were privatised.As a result, inflation came under control,but unemployment rate increased rapidly
54. Margaret Thatcher ◆ She was the Prime Minister elected in 1979. She led her Conservative government to carry out a radical programme of reform. Foreign exchange controls were lifted, rules governing banks loosened and many stateowned businesses were privatised. As a result, inflation came under control, but unemployment rate increased rapidly
55.Main sectors of the UK economy The UK national economy can be divided into three main areas:primary industries,such as agriculture,fishing and mining;secondary industries which manufacture complex goods from those primary products;and tertiary (or service)industries such as banking,insurance, tourism and the retailing
55. Main sectors of the UK economy ◆ The UK national economy can be divided into three main areas: primary industries, such as agriculture, fishing and mining; secondary industries which manufacture complex goods from those primary products; and tertiary (or service) industries such as banking, insurance, tourism and the retailing
56.The UK's agriculture Britain's agricultural sector is small, producing 1.4%of the national wealth,but efficient,producing 58%of the food needs with only 2%of the workforce.Three quarters of the Britain's land is used for agriculture-one quarter for crops and the rest for grazing animals of which sheep are the most numerous livestock
56. The UK's agriculture ◆ Britain's agricultural sector is small, producing 1.4% of the national wealth, but efficient, producing 58% of the food needs with only 2% of the workforce. Three quarters of the Britain's land is used for agriculture - one quarter for crops and the rest for grazing animals of which sheep are the most numerous livestock
57.The UK's manufacturing industry ◆ The manufacturing industry produces 22% of the UK's national wealth.British companies are particularly strong in pharmaceuticals, chemicals,aerospace and food and drink
57. The UK's manufacturing industry ◆ The manufacturing industry produces 22% of the UK's national wealth. British companies are particularly strong in pharmaceuticals, chemicals, aerospace and food and drink
58.The aerospace industry The UK's aerospace industry is the third largest in the world,producing the full range of aerospace products from civil and military aircrafts to missiles,satellites and jet engines. It produces 2 of the UK national output, accounting for 8%of manufactured export goods
58. The aerospace industry ◆ The UK's aerospace industry is the third largest in the world, producing the full range of aerospace products from civil and military aircrafts to missiles, satellites and jet engines. It produces 2 % of the UK national output, accounting for 8% of manufactured export goods
59.Concorde协和式（飞机） It is the world's first supersonic civil airliner produced collaboratively by British and French aircraft manufactures.The aircraft was a technical success but a commercial failure.But this first successful collaboration led to more such programmes between Britain and France
59. Concorde协和式(飞机) ◆ It is the world's first supersonic civil airliner produced collaboratively by British and French aircraft manufactures. The aircraft was a technical success but a commercial failure. But this first successful collaboration led to more such programmes between Britain and France