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1、TheUKEconomy2012,04ContentsAbsolutedeclineandrelativedeclineRecenthistoryThecurrentUKeconomyTheUKeconomyin2009AbsoluteDeclineandRelativeDeclineBythe1880s,theBritisheconomywasdominantintheworld,producingonethirdoftheworld’smanufacturedgoods,halfitscoalandiron,andhalfitscotton.Butby1900,the
2、UKhasbeenovertakenbyboththeUnitedStatesandGermany.theSecondIndustrialRevolutionintheUnitedStatesmeanttheUShadbeguntochallengeBritain'sroleastheleaderoftheglobaleconomy.TheextensivewareffortsofbothWorldWarsinthe20thcenturyandthedismantlementoftheBritishEmpirealsoweakenedtheUKeconomyingloba
3、lterms,andbythattimeBritainhadbeensupersededbytheUnitedStatesasthechiefplayerintheglobaleconomy.From1945untilthepresent,thestoryoftheUKeconomyisusuallythoughtofasoneofdecline.Question:Isthisstatementtrue?Whatarethereasonsfordescribingthisperiodasoneofdecline?TheReasonsfortheRelativeDeclin
4、eofUKEconomyFirst,afterWorldWarII,theUKhadgoneheavilyintodebtinordertofinancethewar,sellingmanyofitsaccumulatedoverseasassets,andborrowinglargeamountsfromtheUSandCanada.Second,theeraofempirewasover.theindependenceofitscoloniesmakesBritainlosebigmarketsforBritishgoods,andtheindependentcolo
5、niesstoppedprovidingrawmaterialstotheUK,leavingBritainasjustamedium-sizeEuropeancountry.Third,Britainspentahigherproportionofnationalwealthonthemilitarythanmostofitscompetitors.(decolonization,amemberofNATO,amemberoftheUNSecurityCouncil.)Fourth,itsindustrysurvivedalmostunaffectedduringthe
6、warsothatBritishcouldcontinuedwithitsolderfactoriesandpre-warproducts.Fifth,thelackofacloserelationshipbetweenindustryandbanksintheUKisnotascloseasthatofJapanandGermany,andtheratesofinvestmentwaslow.FactsshowingtheUKEconomy’sRelativeDeclineBritainisalotmorewealthierandmoreproductivethanit
7、wasin1945;however,othercountrieshaveimprovedmorerapidly,andtheUKslidefrombeingthe2ndlargesteconomiestobeingthe6th.RankordercountryGDPGDP(percapita)growthrate01USA137532.87億美元45668美元2.2%02JAPAN51034.63億美元40055美元2.0%03GERMANY30243.34億美元36698美元2.6%04CHINA28792.26億美元217
