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Essay / Research Paper Abstract
An Overview of the UK Economy: This 8-page essay examines the economic conditions in the United Kingdom relevant to the past decade. In addition, experts’ predictions for the nation’s future prosperity are profiled. What’s in store for the world’s 4th largest economy? Bibliography lists 6 sources. SNUkecon.doc
Page Count:
8 pages (~225 words per page)
File: D0_SNUkecon.doc
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Unformatted sample text from the term paper:
Written by Susan A. Nelson - May, 2001 For More Information On This Paper Please Like many of the worlds nations
the United Kingdom has had a tumultuous economic ride. Innumerable changes have been charted over the past decade that affected not only this countrys monetary rates (inflation, equity market,
exchange, etc.), but also the financial experts projections relevant to its future prosperity. This essay will examine some of these changes, and delineate the economic expectations for the UK
in the new millenium. The UK is a dominant trading power and financial center that exploits an essentially capitalistic economy, and
is also now one of the four trillion-dollar economies of Western Europe. Moreover, to combat some of its socio-economic constraints, over the past decade its government has significantly reduced public
ownership, and contained the growth of social welfare programs. Agriculture remains intensive, highly mechanized, and efficient by European standards, and currently produces about 60% of food needs with only 1%
of the labor force. The nation boasts vast coal, natural gas, and oil reserves; and this primary energy production accounts for approximately 10% of the GDP (Gross Domestic Product) --
one of the highest shares of any industrial nation. However, services such as banking, insurance and business services account by far for the largest proportion of GDP, while industry
continues to decline in relative importance. The UK is now also a major market for agricultural products, taking in about $936 million in agricultural imports from the U.S. In
addition, the U.S. exports some $223 million in forestry products and $93 million in seafood to that country each year. Market forces largely shape the economy, with regulatory bodies providing
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