CHAPTERFOURECONOMYoftheUnitedKingdom

FamousQuotation

Workwhileyouwork;Playwhileyouplay.Thisistheway;Tobecheerfulandgay.—A.D.Stoddart

BritishPhilosopherNewwords

predominant:adj.havingmorepowerorinfluencethanothers占優(yōu)勢的；主導(dǎo)的

—Hatemongeringisthepredominantideainthebookbyaracist.

在種族主義者寫的書中，煽動仇恨是主要的觀點(diǎn)。dismantlement:n.theactoftakingsomethingapart(asapieceofmachinery)拆除

—Thedismantlementappraisaldateshallbethedateofissuanceoflicenseforhousedismantlement.

拆遷估價時點(diǎn)一般為房屋拆遷許可證頒發(fā)之日。Newwordsprosperity:n.thestateofbeingsuccessful,especiallyfinancially興旺；繁榮；成功；昌盛

—Thenewgovernmentusheredinaperiodof

prosperity.

新政府的成立帶來了一個繁榮的時期。recession:n.adifficulttimefortheeconomyofacountry,whenthereislesstradeandindustrialactivitythanusualandmorepeopleareunemployed經(jīng)濟(jì)衰退；經(jīng)濟(jì)萎縮

—Intherecession,ourfirmwentthroughabadtime.

我們公司在經(jīng)濟(jì)衰退時期歷盡艱辛。Newwordsshrink:

v.tobecomesmaller,especiallywhenwashedinwaterthatistoohot;tomakeclothes,fabric,etc.smallerinthisway（使）縮水，收縮，縮小，皺縮

—Theeconomyisshrinkinginsteadofgrowing.

經(jīng)濟(jì)正在萎縮而不是在增長中。stagnation:

n.Ifsomethingsuchasabusinessorsocietystagnates,itstopschangingorprogressing.淤塞，停滯，不景氣

—Thiscountryhadnowentereduponalongperiodofstagnation.

從此，這個國家進(jìn)入了一個長期不景氣的時期。Newwordsbarley:n.agrainofbarley大麥

—Thepeasantsarereapingafieldofbarley.

農(nóng)民們正在收割大麥。oats:n.annualgrassofEuropeandNorthAfrica;grainsusedasfoodandfodder燕麥

—Oatsmainlygrowincoolclimate.

燕麥主要生長在氣候涼爽的地區(qū)。Newwordshemp:

n.aplantfiber大麻

—Hempcanbeusedforclothandropes.

大麻可用來做衣服和繩子。stockpiles:

n.somethingkeptbackorsavedforfutureuseoraspecialpurpose儲存

—Getahustleontostockpiletheseessentialmaterial.

趕快把這些重要材料貯放起來。Newwordspottery:n.ceramicwaremadefromclayandbakedinakiln陶器

—Thearchaeologistsfoundgoldcoinsandpotteryinthelowestlevelofthesite.

考古學(xué)家在發(fā)掘地最下層找到一些金幣和陶器。cutlery:n.knives,forksandspoons,usedforeatingandservingfood餐具（刀、叉和匙）

—Acutlerysetincludesknives,forks,spoonsetc.

一套餐具包括刀,叉,匙等。Newwordsoptical:

adj.connectedwiththesenseofsightortherelationshipbetweenlightandsight視力的；視覺的；光學(xué)的

—IthoughtIsawaghostbutitwasjustanopticalillusion.

我以為我看見鬼了,其實(shí)只是一種幻覺。treble:v.

tobecome,ortomakesomething,threetimesasmuchorasmany（使）成三倍，增加兩倍

—Profitsinourcompanyhavetrebledinthelasttwoyears.

我們公司的利潤在這兩年中增加了三倍。Newwordsstatic:adj.notmoving,changingordeveloping靜止的；靜態(tài)的；停滯的

—Houseprices,whichhavebeenstaticforseveralmonths,arenowrisingagain.

房價穩(wěn)定了幾個月,現(xiàn)在又上漲了。crash:n.asuddenseriousfallinthepriceorvalueofsomething;theoccasionwhenabusiness,etc.fails暴跌；倒閉；破產(chǎn)；失敗

—Thegreatfinancialcrashin1929ruinedinternationaltrade.1929年的經(jīng)濟(jì)大蕭條摧毀了國際貿(mào)易。Newwordsimplement:

v.tomakesomethingthathasbeenofficiallydecidedstarttohappenorbeused使生效；貫徹；執(zhí)行；實(shí)施

—Itisnottheproperwaytoimplementapolicybyforce.

強(qiáng)迫推行一項政策不是辦法。mortgage:

n.alegalagreementbywhichabankorsimilarorganizationlendsyoumoneytobuyahouse,etc.,andyoupaythemoneybackoveraparticularnumberofyears;thesumofmoneythatyouborrow按揭（由銀行等提供房產(chǎn)抵押借款）；按揭貸款

—Payingmymortgagewasanenormousweightoffmymind!

我還了抵押借款，如釋重負(fù)！Newwordsdelinquency:n.nonpaymentofadebtwhendue逾期債款

—Delinquencyisfailuretopayadebtortax.

逾期債款是指未按時償還債務(wù)或稅款。default:

n.failuretodosomethingthatmustbedonebylaw,especiallypayingadebt違約（尤指未償付債務(wù)）

—Idefaultontheinstallmentpayment.

我沒有付分期應(yīng)付的款。Newwordssubprime:

n.次優(yōu)級抵押貸款（次貸）

—Subprimemortgagesareloanstopeoplewhomaynothaveenoughmoneytorepaythem.

次級抵押貸款是指一種貸款人可能沒有足夠錢來償還的貸款。foreclosure:

n.theactofforeclosingonmoneythathasbeenborrowed;anexampleofthis抵押品贖回權(quán)的取消

—Foreclosureis,unfortunately,therightoutcomeforperhapshalfofAmerica'sproblemmortgages.

遺憾的是，也許對半數(shù)沒收房產(chǎn)問題來說，沒收是合理的結(jié)局。Newwordssymptom:n.asignthatsomethingexists,especiallysomethingbad征候；征兆

—Inthatsituation,awagefreeze,whethervoluntaryorimposedbytheGovernment,dealswithasymptomofinflationratherthanwithinflationitself.

在那種情況下,工資凍結(jié),無論是自動還是國家強(qiáng)制進(jìn)行的,是對付通貨膨脹的癥狀,而不是通貨膨脹本身。outlet:

n.ashop/storeoranorganizationthatsellsgoodsmadebyaparticularcompanyorofaparticulartype專營店；經(jīng)銷店

—Thiscosmeticsfirmhas34outletsinBritain.

這家化妝品公司在英國有34個經(jīng)銷店。Economy

Keypoints1.GeneralIntroduction1.1Overview1.2PerformanceofUKEconomysinceWorldWarII1.3RecentPerformance1.4MajorCitiesandIndustriesKeypoints2.EconomicSectors2.1Agriculture2.2Manufacturing2.3ServiceIndustries2.3.1Finance2.3.2RealestateKeypoints3.GlobalFinancialCrisisImpactsuponU.S.andtheWorldEconomy3.1CausesofFinancialCrisis3.2ImpactuponUK3.3MeasurestoDealwithRecession1.GeneralIntroduction1.1Overviewtheworld’ssixthlargestbynominalGDPthethirdlargesteconomyinEuropeamemberoftheG8,theOECD,theWTO,andtheEUthefirstcountryintheworldtoindustrialiseinthe18thand19thcenturiesstillpossessesasignificantroleintheglobaleconomy1.1OverviewnominalGDP名義國內(nèi)生產(chǎn)總值，以當(dāng)年價格計算的最終產(chǎn)品或服務(wù)的價值。GDPpercapita人均國內(nèi)生產(chǎn)總值，將一個國家核算期內(nèi)（通常是一年）實(shí)現(xiàn)的國內(nèi)生產(chǎn)總值與這個國家的常住人口（目前使用戶籍人口）相比進(jìn)行計算，得到人均國內(nèi)生產(chǎn)總值。1.1OverviewOECD經(jīng)濟(jì)合作與發(fā)展組織，全稱OrganizationforEconomicCooperationandDevelopment，簡稱經(jīng)合組織（OECD），是由30個市場經(jīng)濟(jì)國家組成的政府間國際經(jīng)濟(jì)組織，旨在共同應(yīng)對全球化帶來的經(jīng)濟(jì)、社會和政府治理等方面的挑戰(zhàn)，并把握全球化帶來的機(jī)遇。1.2PerformanceofUKEconomysinceWorldWarIIagrowthin

prosperityinthe1950sand1960sfollowingthesevereshockofthe1973oilcrisisandthe1973–1974stockmarketcrash

Britisheconomywentintorecessionin1974AnewperiodofeconomicsbeganwiththecomingoftheMargaretThatchergovernmentin19791.2PerformanceofUKEconomysinceWorldWarIIMargaretThatcher

瑪格麗特·撒切爾，鼎鼎有名的英國倫敦鐵娘子，英國保守黨人，1979年至1990年任英國首相。1982年和1984年曾兩次以首相身份訪華，1984年12月訪華時同中國政府總理正式簽署了中英關(guān)于香港問題的聯(lián)合聲明。1.2PerformanceofUKEconomysinceWorldWarIIAfteramildrecessionintheearly1990s,therefollowedthelongestperiodofstableeconomicgrowthThisboomendedin2008whentheUnitedKingdomenteredarecessionbroughtaboutbytheglobalfinancialcrisis1.3RecentPerformanceTheUKenteredarecessioninQ3of2008.AsofJune2009,theeconomyhadshrunkby5.6%comparedtotheyearbeforeTheUKeconomyisnowclearlyexperiencingoneofitsworstrecessionsinrecenthistory1.4MajorCitiesandIndustries1.4.1London

thecapitalofbothEnglandandtheUnitedKingdomamajorcentreforinternationalbusinessandcommerceandisoneoffour“commandcenters”fortheworldeconomylargestindustryremainsfinance

1.4.1LondonWhatfactorscauseLondon’ssuccessasaserviceindustryandbusinesscentre?1.Englishbeingthenativeanddominantlanguageofbusiness2.Englishlawbeingthemostimportantandmostusedcontractlawininternationalbusiness1.4.1London3.Governmentpoliciessuchaslowtaxes,particularlyforforeigners,abusinessfriendlyenvironment,goodtransportinfrastructureandaderegulatedeconomy1.4.1LondonLondonhasover480overseasbanks,morethananyothercityintheworldLondonishometobanks,brokers,insurersandlegalandaccountingfirmsmediacompaniesareconcentratedinLondonTourismisoneofLondon’sprimeindustries1.4.1LondonthemediadistributionindustryisLondon’ssecondmostcompetitivesectorTheBBCisakeyemployer,whileotherbroadcastersalsohaveheadquartersaroundthecityManynationalnewspapersareeditedinLondon,havingtraditionallybeenassociatedwithFleetStreetinLondon

1.4.2Liverpoolthecityhasseenalargegrowthintheservicesector,bothpublicandprivatePublicsectorsinclude:partsoftheNationalHealthServiceRevenueandCustoms

HomeOfficeagenciessuchastheCriminalRecordsBureauandtheIdentityandPassportService,formerlytheUKPassportAgency1.4.2Liverpool

privateserviceindustryinclude:BarclaysJPMorganandtheBankofIrelandTourismisamajorfactorintheeconomy1.4.3BirminghamapowerhouseoftheIndustrialRevolutioninEnglandtheworkshopoftheworldTwoofBritain’s“bigfour”banks—LloydsBankandtheMidlandBank(nowHSBCBankplc)inBirminghamTourismisalsoanincreasinglyimportantpartofthelocaleconomy1.4.3BirminghamLloyd’sBank萊斯銀行，是一間英國歷史最悠久的銀行，也是伯明翰的第一間銀行。HSBCplc總部設(shè)于倫敦的匯豐集團(tuán)是全球規(guī)模最大的銀行及金融機(jī)構(gòu)之一。匯豐集團(tuán)在歐洲、亞太地區(qū)、美洲、中東及非洲76個國家和地區(qū)擁有約9,500間附屬機(jī)構(gòu)。匯豐銀行在全球擁有超過1億1千萬的顧客.2.EconomicSectors2.1Agriculturelandsurfaceissmall,butagricultureisveryintensiveandhighlyproductiveReasons:climateismildandthereisplentyofrainfall

Nearly80%ofBritain’slandarea

canbeusedforagriculturalpurpose2.1AgricultureThemaincropsthataregrownarewheat,barley,oats,andcornforanimalfeeds,potatoesandsugarbeetThemainlivestockwhichareraisedarecattle,chickensandsheep

2.1AgricultureAgricultureissubsidizedbytheEuropeanUnion’sCommonAgriculturalPolicy(CAP)Thispolicyseekstoensurethatfarmersgetreasonableincome.ItalsoaimstoprovideconsumersoftheEUwithaffordablefoodsupplies

2.1AgricultureTohelpfarmers,thegovernmentpurchasesallsurplusproductsandstoresthemforlatersaleMeanwhile,thegovernmentsubsidizesagriculturalexportsbypayingexporters2.1AgricultureButagriculturalproductscomingintoBritainfromnon-EUcountriesaretaxedmorethan40%oftheBritishfarmers’incomecomesfromthegovernmentsubsidies

2.1AgricultureManyBritishpeoplecriticizeCAPTheBritishfarmingsectorissmallerthanthefarmingsectorsofmostEUnationsTosolvetheproblem,EUnowencouragesfarmerstotakelandoutofproduction,Italsotriestoplaceproductionquotasoncertainproducts2.1AgricultureCommonAgriculturalPolicy(CAP)共同農(nóng)業(yè)政策，這是立法和歐洲聯(lián)盟通過提供一個共同的，統(tǒng)一農(nóng)業(yè)的政策的一套做法。它的目的是確保農(nóng)業(yè)也可以長期保持在一個生活的中心地帶。2.2Manufacturing

BritainisthebirthplaceoftheIndustrialRevolution,whennewproducingmethodsareinventedtextiles,shipbuilding,iron,andsteelemergedasimportantindustries.Coalbecamethemostimportantindustrialfuel2.2ManufacturingBritain’sironandsteelindustryremainsimportantEngineeringandalliedindustriesisthesinglelargestsector2.2ManufacturingAnotheralliedindustriesiselectronics,audioandopticalequipmentOtherimportantsectorsincludefood,drink,tobacco,paper,printing,publishingandtextiles2.3ServiceIndustries2.3.1FinanceTheUKisoneoftheworld’sleadingfinancialcentersTheLondonStockExchangeisoneofthelargestexchangesintheworld2.3.1FinanceThepoundsterlingisthebasicunitofcurrencyinBritaintheUKiscontinuouslyusingitstraditionalcurrencyofthepound,whileotherEUnationshaveadoptedtheeuroastheirsinglecurrencyfrom1January,20022.3.2RealestateTheUKpropertymarketboomedforthesevenyearsupto2008Causes:sustainedeconomicgrowth,anexpansioninhouseholdnumbers,lowinterestrates,thegrowthinpropertyinvestment,andplanningrestrictionsonthesupplyofnewhousing2.3.2Realestate3.GlobalFinancialCrisisImpactsuponU.S.andtheWorldEconomy3.1CausesofFinancialCrisisTheimmediatecauseor

triggerofthecrisiswastheburstingoftheUnitedStateshousingbubblewhichstartedtoburstin2006,andthedeclineacceleratedin2007and20083.1CausesofFinancialCrisisAnotheranalysis,differentfromthemainstreamexplanation,isthatthefinancialcrisisismerelyasymptomofanother,deepercrisis,whichisasystemiccrisisofcapitalismitself.

3.2ImpactuponUK

theUKhasbeenhithardbytheglobalfinancialcrisisEconomicactivityhasweakenedsharply,theunemploymentratehasincreased,propertypriceshavedroppeddramatically,andinflationhasfallen3.2ImpactuponUK

Figure2:UKGDPfrom2003-20083.2ImpactuponUK

UKGDPshrankby1.6percentinthefourthquarterof2008ItisthebiggestquarterlyfallinGDPsince1980andthebiggestannualfallinGDPsincethelastrecessionin19913.3MeasurestoDealwithRecessionStandardmacroeconomicpolicyincludes