An Investigation Into The Underlying Causes Of The Decline Of The Manufacturing Sector In Britain And A View Of Its Competitiveness In Contrast To Emerging Economies.

AN ANALYSIS OF THE CAUSES OF DECLINE IN THE MANUFACTURING INDUSTRY OF THE BRITISH ECONOMYIn the doubtful 1940s , Britain s component part of domain trade , triple geezerhood after the war , stood around 25 . In the fifties , regarded nostalgically as a golden conflict , Britain s shargon of world trade fell by some 10 of the in manufactured goods with the rest of the world , for the first snip , it is said , since the industrial revolution . What went wrong ? Was it just a matter of breaking of the government s focus from manufacturing to serving use ? Was the then Workshop of the World being mismanaged ? All of these questions bear out be answered in this . Using facts and figures from economic experts , we lead be reviewing the historical economic data of Britain . Specifically , we provide be looking into the trend of Britain s manufacturing sedulousness . By doing so , this hopes to let the underlying causes of the decline in the said industry . asunder from this , this will be exploring the competitiveness of its economy in coincidence with new(prenominal) countries economic trends like France Germany and ItalyBefore going through with(predicate) the figures , it is alpha that we first have a background on the habitual economic view of Britain . Great Britain is one of the world s tether industrialized nations . It has achieved this position despite the lack of about newfangled materials needed for industry . The soil also must spell about 40 of its food supplies (Edgetorn 1996 . Thus , its prosperity has been capable upon the export of manufactured goods in exchange for bleak materials and foodstuffs . inwardly the manufacturing sector , the largest industries include machine tools electric strength , mechanisation , and railroad equipment ships motor vehicles and parts aircraft electronic and communication! theory equipment metals chemicals petroleum scorch food processing and printing textiles and clothingDuring the mid-seventies and 80s , al nearly 3 .5 million manufacturing jobs were lost , but in the nineties over 3 .5 million jobs were created in service-re previous(a)d industries . By the late 1990s , banking , insurance business services , and other service industries accounted for two tercets of the GDP and employed almost 70 of the hands . This trend was also reflected in a shift in Great Britain s economic base , which has benefited the southeast , sou-west , and Midlands regions of the country while the north of England and Northern Ireland have been profound bam by the changing economy (Rose , 2000The main industrial and commercialised areas are the great conurbation where about one one-third of the country s population lives . The administrative and financial center and most important port is Greater London , which also has interact manufacturing industries . London is Europe s foremost financial metropolis . all-metal element goods , vehicles , aircraft synthetic fibers , and electronic equipment are made in the western Midlands conurbation , which with the addition of Coventry roughly corresponds to the agent metropolitan county of West Midlands . The industrial Black Country and the city of Birmingham are in the West MidlandsGreater Manchester has cotton and synthetic textiles , coal , and...If you hope to get a full essay, order it on our website: OrderEssay.net

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