British Culture New

8/3/2019 British Culture New

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I/ The Economy:

1.UK Economic StructureDuring the heyday of the British Empire, the UK was the largest and most

influential economy in the world. As the birthplace of the industrial revolution, the

UK was at the forefront of technological advances during the 18th

to 19th

century.However other countries, and in particular the US, began to catch up to the

UK technologically wise. Meanwhile, the UKs global influence was alsobeginning to wane as many British colonies were in the process of declaringindependence. Finally, the damage received during World War I and World War IIseverely weakened the UK economy. Although the UK economy has sincerecovered from both World Wars, it is unlikely to reclaim its former position as thetop economic power in the world.

Today, the UK is the 6th largest economy in the world in 2010 according toGDP (current prices) and the 8th largest in the world according to GDP (PPP). The

UK is also a member of the G7 (now expanding to the G8 and G20), the EU andthe OECD (Organization for Economic Cooperation and Development).

Although the UK economy faced another major setback during the 2008global financial crisis, the UK government has implemented austerity measures inorder to reduce its global debt as well as facilitate for long-term economic growth.These plan aims to lower London's budget deficit from over 11 per cent of GDP in2010 to nearly 1 per cent by 2015.

2.UKs Economic Geography

UKs economy encompasses those of its home nations England, Scotland,Wales and Northern Ireland. The Isle of Man and the Channel Isles are alsoconsidered to be part of the British Isles but have offshore banking statuses.

As a member of the EU, the UK is part of a single market that ensures the freemovement of people, goods, services, and capital within member states.

Nevertheless, the UK still maintains its own economy and has chosen to continueusing the Pound Sterling as its national currency rather than converting to the Euro.

Although 23.23 per cent of the UK is considered to be arable land, vast plotsof agricultural land have remained uncultivated. Many critics have blamedsubsidizes provided by the EU Common Agricultural Policy as well as pricedistortions created by the Metropolitan Green Belt, for the lack of agriculturalactivity on these lands.

Apart from its arable land, the UK also has a healthy supply of naturalresources. In the past, coal and iron ore was a major player in the UK economy.The UK's primary industry sector was once dominated by coal, which could befound in south Wales, Midlands, Yorkshire, North East England and southern


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Scotland. However since 1981, the production of coal has fallen drastically bymore than 75 per cent. In 1981, the UK was the 4th largest coal producing nation inthe world today the UK is ranked 15th.

Iron ore production has also played an important role in UKs industries. Asthe primary element of steel, iron ore production supports the UKs steel andmanufacturing industries. Under manufacturing, it also assists in the production ofautomobile and aerospace equipment.

The UK also has the 30th largest proven oil reserves and the 39th largestproven natural gas reserves in the world. Oil mining activities are concentrated onthe east coast of Scotland and North East England. The waters in the North Sea offthe east coast of Scotland contain nearly half of the UK's remaining oil reserves,and a quarter of reserves are located in the North Sea near the Shetland Islands.Most natural gas production is also located in the North Sea, with a small amountonshore and in the Irish Sea. However, due to its limited supply, the UK is a net

importer of both oil and natural gas.Presently, a North-South divide exists within the UK, due to a gradual shift in

economic focus. In stark contrast to Southern UK, which contains the wealthyfinancial and technological industries, Northern England and Scotland have seen

poor economic performance over the years due its industrial roots. Although theUK government has sought to rectify this imbalance, the uneven distribution ofeconomic wealth in the UK has led to many UK citizens migration from the northto the south resulting in a housing market problem.

3.UKs Population and Labour ForceThe population for the UK in 2010 was 62.222 million. Out of this population,18.0 per cent are aged below fifteen, 66.3 per cent are between the ages of fifteenand sixty four, while 15.7 per cent are aged sixty-five and above. The age groupsare not evenly distributed around the country, with some areas having many youngadults and children and some areas having large numbers of older people.

The UK has the fourth highest labour to population ratio in the world, with28.988 million workers. However, unemployment remains high in the UK at 7.841

per cent, and is likely to remain so in the wake of the UKs austerity plans. The UKgovernment has warned that nearly half a million jobs could be lost in the public

sector alone as the government continues its cut on public spending.Currently, 1.4 per cent of the labour force is employed in agriculture, 18.2 per

cent in industries and 80.4 per cent in services. However, agriculture may soonface a labour crisis due to an aging workforce coupled with a general lack ofinterest among younger workers for agricultural jobs.


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4.UKs Industry SectorsDespite only contributing 1.4 per cent of UKs GDP in 2010, Agriculture is

still considered an important part of the UKs economy and society as it produces60 per cent of the UKs food needs. Agriculture in the UK is highly mechanized

and efficient, combining advanced technology with modern farming techniques.Agriculture in the UK is also highly subsidized, both by the UK government andthe EUs Common Agricultural Policy.

Industries were responsible for 22.1 per cent of UKs GDP in 2010. The list ofindustries include machine tools, electric power equipment, automation equipment,railroad equipment, shipbuilding, aircraft, motor vehicles and parts, electronics andcommunications equipment, metals, chemicals, coal, petroleum, paper and paper

products, food processing, textiles, clothing, and other consumer goods.

Manufacturing of goods is particularly important for UK industries. The UK is

the sixth-largest manufacturer of goods in the world according to the value of itsoutputs. Within manufacturing, the production of automotive or aerospaceequipment is a major contributor to UK industries. UKs aerospace industry is thesecond largest in the world with companies such as BAE Systems (the worldssecond largest defence contractor), and Rolls-Royce (the worlds second largestaircraft engine maker) boasting annual turnovers of around 20 billion.

However, despite the historical importance of agriculture and industries,services is the dominant component of UKs economy, contributing to 77.1 percent of the nations GDP. Finance and banking are by far the UKs most importantservices with London being one of the three major economic command centresalongside New York City and Tokyo. Important financial institutions located withinLondon include the London Stock Exchange, the London International FinancialFutures and Options Exchange, the London Metal Exchange, Lloyds of London,and the Bank of England.

Tourism is another extremely important service in the UK. With more than 28million tourist arrivals in 2009, the tourism industry is worth nearly 80 billionannually. According to tourism agency Visit London, the 2012 London Olympicswill be a boost to the UKs economy providing an additional US$2.457 billion tothe economy over ten years.

5.Strengths and Weaknesses of England's Economy:

5.1 Strengths:

1Tourism

In todays society of world travel, England uses tourism as a major lift in


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their economy. Because of Englands rich history, there are many differentplaces that people would like to visit such as Stonehenge. Stonehenge isprobably the most famous prehistoric landmark on the planet today.Although it has been around for 5,000 years, the mystery and beauty of thisarea draws millions of people to see it.Another great place to visit in England is places such as: Windsor Castle,Kings Collage at Cambridge, Buckingham Palace and The Palace ofWestminster. Each of these landmarks have a uniqueness about them thatcreate a once in a lifetime feeling about visiting them. Windsor Castle is oneof the places in which the Queen herself lives and you will know she is therewhen the standard flies from the circular tower. This castle has been aroundfor nearly 900 years and to ensure its survival was rebuilt to stone years afterit was created. The Palace of Westminster contains both houses of

parliament of the United Kingdom. The unmistakable Buckingham Palace is

as every knows where the Royal Family resides. As seen below, this massivestructure is surrounded by a garden and will always have guards standingoutside of it at the gates to ensure the protection of the Royal Family.

2Sports

When talking about sports in England the world knows that Europe isrenowned for soccer which is another one of Englands economic monsters.

Not only is England soccer crazed but all of Europe is. The English PremierLeague is one of the top soccer leagues in the world and contains some of

the best players. The league was not created until 1991 which would help theeconomy out even more. The Founder Members Agreement was signed onJuly 17, 1991 which set up the original teams. As of now, the best team inthe premier league would be the best known team of Manchester United.Because of how much the people of this region enjoy and worship football,merchandise is sold at a rapid pace. As of now, you can get anything from akey ring to a shirt and hat to even beds and coffins. No matter what peoplethink of making it is almost certain that the people of this region will spendtheir money on it. This is a perfect example as to how the Premier League is

a great advantage to Englands economy. There are so many different aspectsto sports that allow for the growth of the economy such as the need forcontractors to build the stadiums and manufacturers creating the jerseys andhats and shirts for the fans. Attendance alone will show how valuable thissport is to the English economy. More than 60,000 fans attend ManchesterUnited games on a regular basis which proves that even a few teams that

play in England will have a big role on their economy.


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Football and Tourism are the two main forces that drive Englands economybecause they are so highly looked upon in this region. Many countries havebeen able to be successful simply because they have taken the same actionthat England has taken and have begun marketing the rich history of theEuropean nation as well as the impeccable athletes that make up the EnglishPremier League.

3Finance

The financial sector of England allows for most of the employment in thecountry. England is one of the foremost countries in the financial,commercial and industrial sectors which make it a great place to open thosetypes of businesses. England mainly exports manufactured goods and beef toa lot of the European countries while importing things such as petroleum, tea

and wool. The city of London is one of the worlds leading cities forbusiness and commercial industries ranking alongside New York and Tokyoas a leading financial centre. London is the headquarters of 100 of Europestop 500 companies which provides plenty of jobs and proves how importantEngland really is to Europe

5.2. Weaknesses of Englands Economy

1Manufacturing

For most of Englands history they have been an agricultural economy;

however, in the mid-20th century, they adjusted and tried to become a moreindustrial country to keep up with everyone else. Unfortunately for them, inthe 1990s their industries took a hit. England looked at becoming a servicetype nation which has benefited them as seen in their strengths. AlthoughEngland exports equal close to $416 billion, their imports exceed $595

billion which means they are bringing in materials and goods that they areunable to make such as manufactured goods, machinery and fuels. By doingthis, the people who are unemployed do not have jobs which does not allowthem to put any money back into their economy. Everyone knows that in

order to have an economy working its best, the inhabitants of that area mustbe spending money. By going out of the country to get manufactured goods,you are giving someone else other than your country money. This leads to adecrease in the economy, especially when youre importing much more thenexporting.


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2Agriculture

Recently agriculture has given the English economy some trouble with thedevelopment of mad cow disease. Because of this, England has goneoutside of their country to get meat as opposed to just getting if from the

animals they already have. This has also crippled their ability to export meat.No one wants to buy their meat because of the disease which has hurt theireconomy to some extent. It was found out that the disease is caused bygiving cattle that are normally herbivores the remains of other cattle throughmeat and bones meals. They also found that it was spread through givingyoung calves infected protein supplements. Another reason as to thedownfall in the agriculture would have to be because even though there is alarge area of land to farm, there are not a large number of farmers to takecare of the land. 80,000 less farmers are accounted for now than a decadeago which is a huge deficit when attempting to take care of such a large area.

II/ The Everyday Life:

1.Cost of Living:The UK is considered to be an expensive country, compared to other countries

within the EU. Cost of living varies within the UK, between rural and urban areasand between towns and cities. Cities tend to be the most expensive, with London

being the most expensive city in the UK. It is considered to be cheaper to live inthe Midlands and the North of England, than in London and the South East.

Britains currency is based on the pound sterling (), which is divided into 100pence (100p). Current coins are: 1 penny, 2 pence, 5 pence, 10 pence, 20 pence, 50pence, 1 pound and 2 pounds. Current bank notes are: the 5 pound note, the 10pound note, the 20 pound note and the 50 pound note. The Euro is not used in theUK, although in a few larger department stores it may be accepted.

The costs below are average costs:Cigarettes 5.00Loaf of bread 0.70Sandwich: 2.00

Cup of Coffee: 1.50Pint of beer in pub: 2.70Chocolate bar: 0.60Fish and Chips: 5.00Cinema Ticket: 6.00Short bus journey: 1.00Football match: 25-40


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Petrol: 0.90 per litterCar Hire: 35 per day2 course meal in an average restaurant: 15 per person

Buying food and clothing in large department stores will be more expensivethan buying the equivalent in supermarkets. Most towns will have some form ofindoor market where food, clothing and household items can be bought, and pricestend to be cheaper. Charity shops sell second-hand clothes and household goods,with the profits from the sales of these normally going to charity.

Debt is a problem for many people in the UK today and there are severalorganizations to offer information and advice if you are having difficultiesmanaging money.

1.Media and Entertainment:There are 768 radio stations, 530 television channels, 1,601 newspapers, and

1,970 magazines - from 285 media owners in UK. The UK also has a strong musicindustry. The UK has a diverse range of providers, the most prominent being

principle public service broadcaster, the British Broadcasting Corporation (BBC).In 2009 it was estimated that individuals viewed a mean of 3.75 hours of

television per day and 2.81 hours of radio. The main BBC public servicebroadcasting channels accounted for and estimated 28.4% of all television viewing;the three main independent channels accounted for 29.5% and the increasinglyimportant other satellite and digital channels for the remaining 42.1%. Sales ofnewspapers have fallen since the 1970s and in 2009 42% of people reported

reading a daily national newspaper. In 2010 82.5% of the UK population wereInternet users, the highest proportion amongst the 20 countries with the largesttotal number of users in that year.

Britain art and entertainment has made a global impact over the ages. The richcultural and traditional heritage of Britain has attracted tourists from all over theworld. There are various forms of art and entertainment that are prevalent in thecountry. From the very ancient times, Britain has developed its own rich body ofart and entertainment forms that are unique in themselves.

Art in Britain can be segmented into various categories. Architecture hasreached great heights of excellence in Britain. The museums, architectural

structures as well as the art galleries form an integral part of Britain Art. Thesearchitectural structures reveal a lot about the history of the country. Each of theseunique pieces of art is incredibly beautiful. The various art galleries and museumsin Britain depict the rich art forms of Britain. The exhibits and displays in themuseums trace the long and illustrious background of Britain and show thetransformation from the ancient to the modern times.

Entertainment sources in Britain vary extremely. Britain is famous for its


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thriving music choirs or rock bands, restaurants, nightclubs, bars and pubs. Touriststo the country also frequent the theatres and cinema halls in the country. Initially,entertainment in Britain was under the control of the Government, but gradually it

became independent. The media sources in the country, like the television, radio aswell as newspapers are also sources of entertainment in Britain. Britain has always

produced good movies, which have gained international appreciation. Shopping isanother form of entertainment that the British love to indulge in.

Nightlife in Britain is very active with numerous entertainment facilities onoffer for the local people as well as for the travellers and tourists. There arenumerous restaurants in the country that serve authentic British cuisine as well asvarious types of international delicacies. Bars and pubs are especially popular inLondon, Essex, Scotland, Hertfordshire, Edinburgh, Wiltshire, Oxfordshire andBedfordshire. Nightclubs, where live band performances can be enjoyed, are alsonumerous in the country. Discos are also quite common in Britain where various

forms of music like jazz, electronica, blues, house, techno and rock are played bythe DJs.

Some of Europes greatest amusement and theme parks are located in Britain,with the largest, Alton Towers near Stoke-on-Trent in the Midlands being home torides like the Nemesis, a huge roller coaster, which turns upside down andOblivion, a roller coaster with a hair raising vertical drop. The amusement parkalso houses a water park, spa and golf course with impressive nineteenth centurygothic towers as a back drop. Chessington World of Adventures, Thorpe Park andDrayton Manor are also packed with thrilling rides and amusements. Legolandnear Windsor is an interactive theme park based around enormous working modelsconstructed from Lego bricks. It is an excellent day out for families with youngchildren and has plenty of rides to add to the enjoyment.

The country also has a large selection of zoos, the largest being Chester Zoo inthe Midlands. It is home to over 500 different species of animals and is set in anaward winning nature park with diverse varieties of plants. Edinburgh Zoo is the

biggest wildlife attraction in Scotland. Britain has four safari parks where animalsfrom around the world roam free. The oldest park is Longleat in Wiltshire and themost famous is Knowsley Safari Park on Merseyside, which has 30 species of wildanimals including lions and elephants roaming wild on 550 acres of parkland.

Britain Sports enjoy a high level of excellence and popularity. Sports andgames are endowed with a place of high pride and prestige in Britain. Britain hasexcelled in a number of sports through the centuries. It has not only produced someof the greatest sportspersons, but has also given some of the greatest coaches andinstructors to the world in a number of sports.

A number of sports are enjoyed and played in Britain at the highest level.Traditional sports at Britain like horse-racing and boating are enthusiastically


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practiced and closely followed alongside modern sports like netball and car racing.Sports like Cricket, football, tennis and badminton enjoy great popularity all acrossthe world, and they are widely played in Britain as well.

Britain has a wonderful infrastructure related to all kinds of sports that arepopularly played and enjoyed in the country. The various training schools andSports academies spot talents at an early age and nurture them to make them reachup to international standards of excellence and skill. Most of them employ state-of-the-art facilities and equipment for the proper grooming and practice of thesportspersons.

Sports in Britain usually enjoy highly commendable professional circuits.Some of the most famous professional leagues and tournaments are held in Britain.There are age-old boating and horse-racing tournaments as well as modern carracing meets that are held in Britain. Prestigious tournaments like the PremierLeague and the Wimbledon are the pride of Britain. They are watched and closely

followed by millions from across the world.Britain has some of the most famous stadiums in the world like the Old

Trafford football stadium and the Lords cricket ground. Playing in these stadiumsis a dream come true for sportspersons from across the world. Britain has also

played host to a number of prestigious sports meets and tournaments like theFootball World Cup in 1966. London is also slated to hold the 2012 OlympicGames.

3. Workplace:

Although the British dont have a reputation abroad for hard work, manyBritons are workaholics, particularly among the managerial and professionalclasses, and most Britons see themselves as hard-working. British employees workamong the longest average hours in the European Union and 12-hour days andwork-filled evenings arent uncommon. Redundancies and cost-cutting haveincreased the pressure on employees, particularly white-collar workers, many ofwhom now do the work of two or more people. Stress, anxiety and depression dueto overwork are increasingly common complaints, and account for the loss of over13mn working days a year, according to a Health and Safety Commission report.Working today is usually quite safe. The government has made laws saying that

employers have to look after the workforce and provide safety equipment and otherthings for them. Besides, if you work full time you are entitled to four weeks paidholiday per year; so for example if you have a one year contract and work fivedays per week, you are entitled to 20 days holiday. If you have not taken all theholidays that you are entitled to when your employment ends, your employer must

pay you for the days that you have not taken.The jobs lost in the 80s were generally well-paid skilled and semi-skilled


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manufacturing jobs, which have largely been replaced by poor quality, low-paidjobs with few or no benefits. Employment experts believe that the era of securefull-time employment with comprehensive employee benefits and lifetimeguarantees has gone forever. This view is supported by the trend for increasingnumbers of full-time jobs to be replaced by part-time jobs (mostly for women), andfreelance and contract labor at lower wages without benefits. (Some 500, 000managers and professionals now work part-time or on contract.) Only around athird of employees have the security of a full-time job (down from 55 per cent in1975), while perhaps a further third survive in the twilight world of contracts andcasual work.

4.Shopping in UK - Kind of stores

3The small shop

Britain was once known as a nation of shop keepers; however the small shopin the UK is almost a thing of the past. Many villages have lost their local cornershop or post office because of competition from the supermarkets and out- of-townshopping centres.

Small shops are often run by families operating as sole traders orpartnerships. They usually specialise in a small range of goods, e.g. butchers,tailors, greengrocers, newsagents etc.

Prices are often higher in these shops, as they cannot afford to buy in largequantities, and the range of goods on offer is often small. However there tends to

be a friendlier atmosphere and personal service. Some small shops even deliver tothe home, newsagents especially will deliver a newspaper to the door.

4Supermarkets

Supermarket must by definition have a minimum selling area of 186m2 andat least 3 check outs. They are often situated on the edge of a town by a main roador motorway and provide a large car park for customers.

They are mostly self-service and sell a range of goods including groceries,clothing, electrical goods etc, however their main selling items are food and drink.

A supermarket is organised into aisles and goods are displayed on shelves.Some supermarkets have counters where fresh produce is displayed, for example acheese counter or meat or fish counter.


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Prices are generally low and there tends to be a large variety. Tescos,Sainsburys and Asda are three of the largest supermarkets in the UK. One of thenew concepts in supermarkets is the customer loyalty card and banking facilities. Acustomer loyalty card allows the customer to collect reward points for every poundthey spend, these points can then be redeemed for money off vouchers.

Supermarkets tend to be open 7 days a week with longer opening hours -usually until 8pm or 10pm most evenings, with reduced hours of 10am-4pm on aSunday. Some in larger town stores now open 24 hours

5Department Stores

A department store sells a very wide range of goods, they can be describedas a collection of shops under one roof, but under the control of one firm.

They usually occupy large buildings in expensive city centre or out-of-townshopping sites. Each store is divided into a number of departments and each ofthese departments specialises in a particular type of product or service. Forexample: electrical goods, carpets, clothing, furniture etc. The proliferation ofsupermarkets has led to problems with distribution of goods, in the UK there arethousands of lorries on the road every day, just to deliver fresh produce to thesupermarkets. The government is concerned about this and this and is looking for asustainable distribution policy.

The most famous department store in the UK is probably Harrods, in

addition House of Fraser, Marks and Spencers and Debenhams are three of thelargest department stores in the UK. They don't just sell goods either, all of thesedepartment stores offer customer loyalty cards, in store credit cards and financeand insurance facilities too.

6Out of Town Shopping Centres

Catering purely to people with cars is the out of town shopping centres.Hated by many people and blamed for the run down state of many city centres theyare still extremely popular.

7Fair TradeFair trade is all about providing fair wages and good employment

opportunities to economically disadvantaged artisans and farmers worldwide. Bybuying direct from farmers at better prices, helping to strengthen theirorganisations and marketing their produce directly through their own one worldshops and catalogues, the fair trade charities offered consumers the opportunity to

buy products which were bought on the basis of a fair trade.


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In order to co-ordinate the work of the national initiatives and run themonitoring programmes more efficiently, an umbrella body, Fairtrade LabellingOrganisations (FLO) International, was set up in April 1997. One of its aims is tosee the introduction of a single international Fairtrade label. The national initiativesretain responsibility for marketing and promoting Fairtrade in their respectivecountries.

8Online Shopping

The best way to learn is to do. You can now go shopping in England withoutleaving your desk. The latest craze to hit the UK is online shopping, not just for

books and cds, but for the daily necessities too, food, clothing etc. Check out theseinteresting sites, and don't worry you don't have to buy anything.

Beanz Meanz Heinz - shop online at Heinz's grocery store. They deliver all overthe world.

Marks and Spences - no shopping trip is complete until you have visited M&S -food, fashion and home departments.

4.Shopping in UK Shopping HoursShopping hours :

Open: Monday to Friday: 10am 9pmSaturday: 9am 8pmSunday: 11am 5pm

Bank Holidays are a great time to shop as there are many sales on especiallyaround Easter and Christmas.Bank Holiday Shop opening times 10am to 4pm (or11am to 5pm). Over the Christmas and New Year period, all shops are closed onChristmas Day (December 25) and a some shops are closed on New Year's Day(January 1). However, an increasing number of shops are now opening on BoxingDay (December 26), which is when many start their 'New Year' sales.

It is likely that most shopping centres will be closed on Easter Sunday andthere will be reduced shopping hours on Easter Monday (often from either 10 or 11o'clock in the morning).

In Villages: Some rural shops still follow the tradition of an early closingday (usually a Wednesday) when the shops close at 1.00pm.

III/ Comparison of the economy and everyday life in Vietnam and UK:


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Viet Nam Britain

The structures

of trade and

industry

-The socialist-oriented marketeconomy is comprised of many

ownership types and economicsectors, in which the State-ownedeconomy plays the vital role.

-Vietnam has Industry and TradeMinistry and Financial Ministrywhich is under the Government andhas the responsibility for every

performance policy of the economy.So the Government directly controlthe countrys economy.-Vietnams economy was dependenton wet rice cultivating. So Vietnamis known as the agricultural country.

-The UK economy wellrepresents the type of market-

oriented model of financialcapitalism (UK can be describedas market-oriented capitalism,collective capitalism, socialmarket capitalism, or statecapitalism).-It is an economic system inwhich the means of productionare all or mostly privatelyowned, operated for profit andnot controlled by theGovernment.

-UK is a famous industrialcountry. Main industries todayare banking and finance, steel,transport equipment, oil and gas,

and tourism. UK is a famousindustrial country

Currency

-Vietnams currency issued by theVietnam State Bank is the Dong(VND). Vietnamese use both coinsand paper notes. But as Vietnam iscurrently changing its moneysystem, there exists parallel twodifferent money systems (old andnew) which can cause confusion.

-Coins include VND 5,000; 2,000;1,000; 500 and 200. These valueshave paper note equivalences.

-The following values: VND500,000; 200,000; 100,000; 50,000;20,000; 10,000.

The British currency is the

pound sterling

-GBP= Great British Pound

Since decimalisation in 1971, thepound has been divided into 100pence.They have both coins andbanknotes.

-Current coins are: 1 penny, 2pence, 5 pence, 10 pence, 20pence, 50 pence, 1 pound, and 2pounds.

-Current bank notes are: 5 poundnote, the 10 pound note, the 20


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-Exist both in the new polymer formand the old normal paper notes.

pound note and the 50 poundnote.

-Old money conversions tomoney used today

Six pence - 2pOne shilling (or 'bob') - 5p

Half a crown (2 shillings andsixpence) - 12p

One guinea - 1.05

Method of

payment

-Direct payment of cash is mostpopular in Vietnam. Small shops,restaurants and markets usually do

not accept any other payment.

-Major credit cards (such as Visa,Master Charge and to some extentAmerican Express) are increasingly

being used, especially in big citiesand tourist places, but only inrestaurants, hotels or big shoppingmalls with a transactional fee (3%-5%).

-The US dollar is legal tender inmany places, especially in the cities.Many shops, hotels, and restaurantshonor dollar payments. Manyestablishments particularlyupmarket restaurants, five-starhotels, and all golf courses will listthe bill only in US dollars

-Direct payment of cash is notpopular in Britain. Small shops,restaurants, markets and other

shopping centre accept otherpayment like credit cards.

-They do not use the Euro.Although a few of the big shopswill accept Euro, it is rarely usedacross Britain.

The hours may differ from bank tobank.

-Generally banks open fromMonday to Friday: 8:00 11:30and 1:00 to 4:00.

-Standard banking hours areMonday to Friday from 9:00-9:30 until 15:30 or 16:00 (someremain open until 17:30).-Many bank branches stay openlate once per week (until 17:30 or


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Banking hours -Some large banks also openthrough lunch or on Saturdaymornings.-Banks are closed on publicholidays.

18:00) as well as being open onSaturdays (9:00-9:30 until 12:30or 15:30).-Banks in England and Walesremain open over lunch, butmany of their counterparts inScotland and Northern Irelandclose for one-hour at lunch.

Social class

systemWorkers

Peasants

Socialist intellectuals

Upper ClassMiddle ClassLower or Working Class

WorkingOrganization

Viet Nam General Confederation ofLabour, administrated by theGovernment.

CBITUC

NUF

Unemployment

Statistic

-A major economic problem facing

the Vietnamese economy is the large

number of individuals who are

unemployed orunderemployed.This problem is exacerbated (made

worse) by several factors: the

improvement of agricultural

productivity and limited land for

expansion has driven farmers off the

land.

-The richest quintile receives 47 per

cent of pensions and the poorestquintile only 2 per cent. In addition,

the wealthiest quintile receives 45

per cent of health assistance while

the poorest only receive about 15

per cent.

-Unemployment is falling at itsfastest pace in a decade

-The unemployment rate in the

United Kingdom was lastreported at 8 per cent in May of2011.

-From 1971 until 2010 theUnited Kingdom'sUnemployment Rate averaged7.22 per cent reaching anhistorical high of 11.90 per centin April of 1984 and a record low

of 3.40 per cent in December of1973. The labor force is definedas the number of peopleemployed plus the numberunemployed but seeking work.The non-labor force includesthose who are not looking for


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-Households in the top income

quintile, the richest 20 per cent of

Vietnamese families, receive nearly

40 per cent of social security

benefits, while the poorest quintilereceives less than 7 per cent.

work, those who areinstitutionalized and thoseserving in the military.

Shopping in

UK Kind of

stores

Shopping malls

Supermarkets

Galleries

Boutiques

Street stalls

Online Shopping9

10The small shop

11Department Stores

12Out of Town

13Shopping Centres

14Fair Trade

15Online Shopping

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British Culture New