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XIX
century
The United Kingdom experienced
a real hegemony.
Its power came from the possession of a vast empire (The
British Empire), from Energy and abundant funds, from a
developped banking and trade organisation, from a float which carried out the
circulation of raw materials (matières premières) and
finished products, from a technical and industrial lead which allowed the United
Kingdom to conquer the world market.
Beginning
of the XXth century
The competition of Germany and
the United States make the scientific and technical preeminence of the UK
decrease.
After
World War I
The world crisis make the UK's
difficulties go worse : industrial stagnation, massive unemployment.
After
World War II
Unlike the other European
States, the United Kingdom is the country which has a low and uneven growth :
from 1950 to 1980, its Gross Domestic Product (GDP=PIB,
Produit Intérieur Brut) only knows an increase of 2,5% (half the result of the
OECD zone (=OCDE)). Its economic evolution is characterized by
"stop and go" periods.
The 70ies
The country sinks deeper into
the crisis : chronic trade deficit, balance of payments problems, distressed
industrial areas, increase in unemployment (1 million
unemployed in 1979), social conflicts.
However, the United Kingdom has
high quality services : the activities of the "City" (market of raw materials,
insurance, banks, the Stock Exchange) provide significant revenues ;
The discovery of the North Sea oil provisionally restored the balance of
payments and aided the recovery of the pound (la livre £).
Despite these advantages and
despite the efforts of the Labour and Conservative governments which are
alternately in and out of power, despite the industrial restructuring,
despite the entry of the UK into the EEC (European Economic Community) in 1973,
the destiny of the british economy is not ensured.
1979-1989
10 years in power for Mrs Thatcher
who marked the country with her strong personality :
-
drop in unemployment (9% of
the working people in 1989)
-
privatization and shareholding
of the small shareholders
-
firm policy with associations
at the time of social conflicts
-
the inflation is better
controlled but still dangerously high (annual rate is 7,3% in 1988)
-
worrying increase, like in the
USA, in the external deficit (14,6 billion pounds in 1988)
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