World Atlas 2010 (4th edition)

347

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Sea

North

Sea

English Channel

ATLANTIC

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1000m/3281ft

500m/1640ft

200m/656ft

Sea Level

Shetlands

Is.

Lerwick

EUROPE

INSIGHT: The UK has no

formal written constitution,

but a stable government system

based on Parliament, which

originated as a check on royal

power in the 13th century

100 km

100 miles

0

0

THE ECONOMY

World leader in financial services,

pharmaceuticals, and defense industries.

Strong multinationals. Precision

engineering and high-tech industries,

including biotechnology and

telecommunications. Energy sector based

on declining North Sea oil and natural

gas reserves. Innovative in computer

software development. Flexible working

practices. Long-term decline of

manufacturing sector, particularly heavy

industries and car manufacture,

matched by rise in financial and

other services. Nonparticipation

in euro threatens former status as

EU’s largest recipient of inward

investment, and has prompted some

major investors to close UK factories.

High levels of government, corporate,

and consumer debt: institutional

vulnerability to 2007–2008 global

downturn. Bank bailouts and stimulus

packages pushed the government’s

finances further into the red.