I.

Overview of Britain
1. Economy The United Kingdom has the sixth-largest national economy in the world measured by nominal GDP and eighth-largest measured bypurchasing power parity (PPP), and the third-largest in Europe measured by nominal GDP and the second-largest in Europe measured by PPP. The UK's GDP per capita is the 22ndhighest in the world in nominal terms and 22nd-highest measured by PPP. The British economy comprises (in descending order of size) the economies of England, Scotland, Wales and Northern Ireland. In 2012, the UK was the 11thlargest exporter in the world and the sixth-largest importer. In recent years, British economy is considered to be a strong economy that has sustainable and continuous growth, economic indicators, such as inflation, unemployment and interest is at quite low level. 2. Everyday life In general, British is lack of enthusiasm for work in everyday life. They consider high earning is more important than job satisfactions. In addition, the British are not adventurous shoppers. They like reliability and buy brand-name goods wherever possible, preferably with the price clearly marked.

II.

The economy and everyday life of Britain

1. Earning money
In this piece we will divide it into two parts: working life and employment 1.1 Working life The statement above is, of course, not literally true. However, it does show a certain lack of enthusiasm for work in general. This attitude to work specially happens at the upper end of the social scale because leisure has always been the main of outward sign of aristocracy. It has had its effect throughout society because of Britains system. If you have to work, the less it looks like work the better. Traditionally therefore, middle class used to do non-manual work as opposed to working class. However, manual works have been highly paid. This anti-work outlook among the working class has had a lack of enthusiasm and ambition and belief that high earning is more important than job satisfaction. But these attitudes are slowly changing. Half of the workforce does non-manual work. It would therefore that the connection between being middle class and doing non-manual work is growing weaker. One illustration of this is the different way in which earnings are conventionally expressed and paid.

The British reputation for not working hard is not true. Perhaps the traditional lack of enthusiasm for work is the reason why the working day, in comparison with most European countries, stars rather late. Normally working day stars at 8am (manual workers) and 9am (non-manual workers). The normal lunch break is one hour or less, and most of people continue working until till 5pm or later. Many people often work several hours overtime a week. Large proportion of British people stays in the workforce for a comparatively large part of their lives. The normal retiring age for most people is sixty-five. There are three main ways in which people look for work in Britain Through newspapers (national ones for the highest qualified, otherwise local ones) Through the local job center ( which is run as government service) Through privately-run employment agencies ( which take a commission from the employers)

The level of unemployment has gradually risen and most new job opportunities are in the service sector. 1.2 The employment This situation has led to an interesting irony with regard to the two sexes. The decline of heavy industries means fewer jobs for men while the rise service occupation means more jobs for women. In 1970, around 65% of the employees were men. In 1993, men made up only 51% of workforce. In 1975, law against sex discrimination in employment was passed, it mainly protect to women. However, in 1994, two and a half times as many unemployed men as there were unemployed women. Many men now seek employment as nurses, shop assistants, secretaries, but they were not hired. It seems that these jobs are still considered to be more suitable for women. One of the reasons for this may be the low rates of pay in these areas of work. Although it is illegal for women to be paid less than men for the same job, in 1993, the average full-time male employee earned about 50% more than that of female worker.

2. Working organization
The organization which represents employers in private industry is called Confederation of British Industry( CBI). Most employers belong to it and so the advice which it gives to trade unions and the government is quite influential. The Trade Union Congress( TUC) is a voluntary association of the countrys trade unions. There are more than a hundred of these, representing employees in all types business.

Most British unions are connected with particular occupations. Many belong to the labour party to which their members pay apolitical levy. That is, a small part of their union membership subscription is passed on to the party, although they have the right tocontract out of this arrangement if they want to. However, the unions themselves are not usually formed along party lines; that is, there is usually only one union for each group of employees rather than a separate one for each pplitical party within that group. Unions have local branches, some of which are called chapels, reflecting a historical link with nonconformism. At the work site a union is represented by a shop steward, who negotiates with the foreman, the management- appointed overseer, became part of twentieth century folklore. Union membership has been declining since 1979. Immediately before then, the leader of the TUC was one of the most powerful people in the country and was regularly consulted by the Prime Minister and other important government figures. At the time the members of unions belonging to the TUC made up more than half of all employed people in the country. But a large section of the public became disillusioned with the power of the unions and the government then passed laws to restrict this power. Perhaps the decline in union membership is inevitable in view of the history British unions as organizations for full time male industrial workers. To the increasing members of female and part time workers in the workforce, the traditional structure of British unionism has seemed less relevant. In an effort to hault the decline, the TUC declaredd in 1994 that it was loosening its contacts with thr labour party and was going to forge closer contacts with other parties. One other work organization needs special mention. This is the National Union of Farmers(NUF). It does not belong to the TUC, being made up mostly of argicultural employers and independent farmers. Considering the small number of people involved in agriculture in Britain. This is perhaps because of the special fascination that the land holds for most British people, making it relatively easy for the NUF to make its demands heard, and also because many of its members are wealthy.

3. The structure of trade and industry

The economy of British changed through period of time. It is affected by modernization and the World War... During the years of the Second World War, British industry performed poorly. In contrast, agriculture was very sucessful. So, in this industry, large scale organization ( such as big farms...) was more common in British than other European countries for a long time. In 1960s, the modernization affected to most of European countries. Large coporations started to dominate and management class was opened to train

managers at business schools. After that time, many companies decided to recruit managers through the company rank or directors. In 1980s, graduate business qualifications become the norm for newly- hired mangers. The economic system in Britain is a mixture of private and public enterprises. From 1945 to 1980, the economy was absolutely controlled by the government. This fluctuated for years, which made a great deal with continual political debate. Various industries became nationalized and especially concerned with the product and distribution of energy. Therefore, they did the various forms of transport and communication services ( the provision of education, social welfare and health care). By 1980s, pure capitalism probably formed a smaller part of the economy than in any other countries in western Europe. From this, the trend started going in other direction. A major part of the philosophy of the Conservative government was to let restricting the freedom of business as little as possible ( market force rule) and to turn state- owned companies into companies owned by individuals. Between 1980 and 1994, a large number of companies were privated. They were sold off by the government. In addition, local government authorities were encouraged to contract out their responsibility for services to commercial organizations. By 1988, there were more shareholders in the country than member of unions. The privatization of the services has necessitated the creation of public organizations with regulatory powers over the industry that they monitor. For example, OffWat monitors the privatized telephone industry, and Off tel monitors telephone industry.

4. Finance and investment

The UK has a partially regulated market economy. Based on market exchange rates the UK is today the sixth-largest economy in the world and the third-largest in Europe after Germany and France, having fallen behind France for the first time in over a decade in 2008.HM Treasury, led by the Chancellor of the Exchequer, is responsible for developing and executing the British government's public finance policy and economic policy. The Bank of England is the UK's central bank and is responsible for issuing notes and coins in the nation's currency, the pound sterling. Banks in Scotland and Northern Ireland retain the right to issue their own notes, subject to retaining enough Bank of England notes in reserve to cover their issue. Pound sterling is the world's third-largest reserve currency (after the U.S. Dollar and the Euro)Since 1997 the Bank of England's Monetary Policy Committee, headed by the Governor of the Bank of England, has been responsible for setting interest rates at the level necessary to achieve the overall inflation target for the economy that is set by the Chancellor each year

The UK service sector makes up around 73% of GDP.[203] London is one of the three "command centres" of the global economy (alongside New York City and Tokyo) is the world's largest financial centre alongside New York, and has the largest city GDP in Europe. Edinburgh is also one of the largest financial centres in Europe.[209] Tourism is very important to the British economy and, with over 27 million tourists arriving in 2004, the United Kingdom is ranked as the sixth major tourist destination in the world and London has the most international visitors of any city in the world. The creative industries accounted for 7% GVA in 2005 and grew at an average of 6% per annum between 1997 and 2005.

The Industrial Revolution started in the UK .with an initial concentration on the textile industry, followed by other heavy industries such as shipbuilding, coal mining, and steelmaking. The empire was exploited as an overseas market for British products, allowing the UK to dominate international trade in the 19th century. As other nations industrialized, coupled with economic decline after two world wars, the United Kingdom began to lose its competitive advantage and heavy industry declined, by degrees, throughout the 20th century. Manufacturing remains a significant part of the economy but accounted for only 16.7% of national output in 2003. Most Mini automobiles are assembled in the United Kingdom The automotive industry is a significant part of the UK manufacturing sector and employs over 800,000 people, with a turnover of some 52 billion, generating 26.6 billion of exports. The aerospace industry of the UK is the second- or thirdlargest national aerospace industry depending upon the method of measurement and has an annual turnover of around 20 billion. The pharmaceutical industry plays an important role in the UK economy and the country has the third highest share of global pharmaceutical R&D expenditures (after the United States and Japan). Agriculture is intensive, highly mechanised and efficient by European standards, producing about 60% of food needs with less than 1.6% of the labour force (535,000 workers).Around two-thirds of production is devoted to livestock, onethird to arable crops. Farmers are subsidised by the EU's Common Agricultural Policy. The UK retains a significant, though much reduced fishing industry. It is also rich in a number of natural resources including coal, petroleum, natural gas, tin, limestone, iron ore, salt, clay, chalk, gypsum, lead, silica and an abundance of arable land.

In the final quarter of 2008 the UK economy officially entered recession for the first time since 1991. Unemployment increased from 5.2% in May 2008 to 7.6% in May 2009 and by January 2012 the unemployment rate among 18 to 24-yearolds had risen from 11.9% to 22.5%, the highest since current records began in 1992. Total UK government debt rose from 44.4% of GDP in 2007 to 82.9% of GDP in 2011. In February 2013, the UK lost its top AAA credit rating for first time since 1978. Inflation-adjusted wages in the UK fell by 3.2% between the third quarter of 2010 and the third quarter of 2012. Since the 1980s, economic inequality has grown faster in the UK than in any other developed country. The poverty line in the UK is commonly defined as being 60% of the median household incomeIn 20072008 13.5 million people, or 22% of the population, lived below this line. This is a higher level of relative poverty than all but four other EU members. In the same year 4.0 million children, 31% of the total, lived in households below the poverty line after housing costs were taken into account. This is a decrease of 400,000 children since 19981999.The UK imports 40% of its food supplies.The Office for National Statistics has estimated that in 2011, 14 million people were at risk of poverty or social exclusion, and that one person in 20 (5.1%) was now experiencing "severe material depression," up from 3 million people in 1977.

5. Spending money
5.1 Shopping The British are not very adventurous shoppers. They like reliability and buy brand name goods wherever possible, preferably with the price clearly marked (they are not very keen on haggling over prices). The British have been rather slow to take on the idea that shopping might actually be fun. In the last quarter of twenty century supermarket began moving out of town, where there was lots of free parking space. As they did so, they became bigger, turning into hyper market stocking a wider variety of items. For example, most of them now sell alcoholic drinks, which are bought at shop called off licences. They also sell petrol and some items found in chemists and newsagents. However, this trend has not gone as far as it has in some other European countries. For example, few supermarket sell clothes, shoes, kitchen utensils or electrical goods. They still concentrate mainly on every need. An exception is the first warehouse shopping club in Europe, opened in 1993 in Essex by the American company Costco. Here members can find almost everything that a shopper could ever want to buy. Shopping club of this kind have spread rapidly all over in the USA. The move out of town, however, is already well established

with many countriess chain stores following the supermarkets into specially built shopping centre, most of them covered. The survival of the high street has been helped by the fact that department stores have been comparatively slow to move out of town. Almost every large town or suburb has at least one of these. They are not chain stores and each company runs a maximum of a few branches in the same region. 5.2 Shop opening hours The normal time for shops to open is nine in the morning. Large out of town supermarkets stay open all day until about eight o clock. Most small shops stay open all day and then close at haft past five or a bit latter. In some town there is an early closing day when the shops shut at midday and dont open again. The most significant change in recent years has been with regard to Sundays. By the early 1990s many shops including chain stores were opening on some Sundays, especially in the period before Christmas. The rule was so old and confused that nobody really knew what was and what was legal. On the other side were a number of lobbies, especially people from women needed more than one day (Saturday) in which to rush around doing the shopping that the whole family could do together.

III. Comparison with Viet Nam

General economy

The developed country The sixth largest national economy in the world GDP (2011): 7th GDP (2012): 6th GDP (2013): 7th The structure In 1960s, the modernization affected to of trade and most European countries, Britain is no industry exception. Large corporations started to dominate and management classes were opened to train managers at business school. UK has approached modernization for a long time => its industry and economy strongly develop Distribution The number of the poor is low of wealth People in general not ashamed to be poor. They dont feel obliged to hide their fact.

The developing country. GDP (2011): 56th GDP (2012): 57th GDP (2013): 42th

In 1960s, Vietnam had to suffer the damage and devastation of war to protect the country from American enemy. Vietnam took a long time to rebuilt infrastructure and recover the broken economy before coming to the modernization period. => its economy is very young. The number of the poor is still high.

Finance and investment

Pound sterling is the nations currency of UK. It is the world s third largest reserve currency. UK service sector makes up around 73% of GDP. Tourism is very important to British economy ( UK is marked as the sixth major tourist destination in the world) London is 1 of 3 "command centers" of the global economy Britain is 1 of the countries which invests oversea with a large amount of money (ex: India, Vietnam, China...) The industrial revolution started in the UK with an initial concentration on the textile industry, followed by the other heavy countries such as shipbuilding, coal mining and steelmaking. Traditional lack of enthusiasm for work -> the working day starts later at 8 am (manual work) and 9 am (non- manual work). Normal retiring age for most people is 65

Vietnam dong is the nations currency of Vietnam. Its only circulated in the country. Vietnam service sector makes up around 30% of GDP and industry sector around 62% of GDP. Hanoi has only influence on domestic economy Vietnam mainly receive the investment from foreign countries (ex: US, UK, Japan, Korea...)

Working life

The working day starts at 7 am (manual work) and 8 am (non- manual work) Normal retiring age for men is 60 and women is 55

Normal lunch break is an hour or less Employment The level of unemployment has gradually risen and most new job opportunities are in the service sector ( in communication, health care and social care) The decline of heavy industry means fewer jobs in stereotypical "men's work", while the rise in service occupations means an increase in vacancies for stereotypical "women's work" => Nowadays, so many working chances open for women. British are not very adventurous shoppers, like reliability and buy brand- name goods.

Normal lunch break is more than one and half hours

There are a lot of industrial zones for foreign to invest. So the job opportunity mainly focuses on industry ( in garment, drinks and food industry...) The traditional conception about sex discrimination still put a burden on women's shoulders.

So they find it difficult to be equal with men in finding job.

Spending money

Vietnamese like cheap, beautiful goods. They usually choose the goods made in China.

Wherever possible, preferably with the price clearly marked (they are not very keen on haggling over prices).

Most Vietnamese tend to use fake products that have a reasonable for their income.

IV.

Conclusion

Summary, Britain is a big economy with sustainable growth. In spite of global economic crisis, Britain keep economic growth sustainably and continuously. Meanwhile, our country, Vietnam is a developing economy; we should have some actions to encourage cooperation between 2 countries to rise economy growth as well as living standard.