Tag Archives: Economics

United Kingdom Economy

Background

The United Kingdom has a fiercely independent, international trading and developed economy and has sixth largest economy in the world by nominal GDP, eighth-largest by purchasing power parity and third largest in Europe after Germany and France. London is the world’s second largest financial center after New York. In the 18th century it was the world’s largest and first industrialized country, and was also able to be at forefront of technological advances which gave strong economic advantage to other countries in the world. UK possessed a dominant, influential, and powerful role in global economy during the 19th and early 20th centuries. The aerospace industry and the pharmaceutical industry are the most important industries of the economy of Great Britain.  Economy of United Kingdom is boosted by its oil and gas reserves. In 1979 most of the companies owned by state were privatized and opened to public competition and were listed in the UKs financial market. Continue reading United Kingdom Economy

Brief Overview on Chinese Economy

BACKGROUND

Chinese government had been responsible for planning and managing national economy since 1949, china maintained policies which kept economy very poor, sluggish, centrally controlled, vastly ineffective and relatively isolated from the global economy. Since opening up of the foreign trade and investment and implementing free market reform in 1978 china introduce capital market principles and became market based economy which began to show faster economic development. China became largest manufacturing economy in the world and second largest socialist market economy by GDP and purchase power parity and It was the world’s fastest growing major economy with average growth rate of 10%. During this period Chinese economy grew by 48 times in 1981 .The economy of China was the fastest growing consumer market in the world. Continue reading Brief Overview on Chinese Economy