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1、Chapter 13 The Economy,Learning objectives: In this part, we will learn some general features of US economy, especially its economical position, problems and vision of its pillar industries.,Focal points:,1. Agriculture 2. Industry 3. Trade 4. Tourism 5. Finance (currency and banks) 6. Transportatio
2、n 7. Communication,Detailed study:,1. Agriculture Agriculture is a major industry in the United States and the country is a net exporter of food. American agriculture has become an “agribusiness”: a combination of agriculture with other businesses such as food processing.,Question to ponder:,What ar
3、e the great factors for the United States to develop its agriculture? -The factors can be simply classified into two categories: natural factors and human factors. Natural factors: a. vast farmland b. fertile soil c. moderate climat,Human factors: a. high level of mechanization and technology b. goo
4、d organization c. large investment d. highly trained labor,1.1 Arable Farming,Warm-up question: Do you know what is “arable farming”? What are the major arable productions in the United States?有缘学习更多+谓ygd3076考证资料,Reference:,Arable farming means cultivation of crops, as opposed to the keeping of anim
5、als. Crops may be cereals, vegetables, or plants for producing oils or cloth. Arable farming generally requires less attention than livestock farming. American staple agricultural products include corn, soybean, wheat, rice, tobacco, sorghum (高粱), cotton, fruit and sugarcane (甘蔗).,Corn a. The US is
6、the largest producer of corn. b. It takes of the agricultural land. Wheat a. The production is second to corn. b. Great plain is the major production distric Cotton a.It is the traditional cash crop b. It takes 1/3 of the national area Soybean a. The US produces half of the world soybeans. b. It con
7、centrated heavily in Iowa and Illiois.,Statistic AnalysisLook at the following chart to analyze the general production and development of the major crops.,Activities:,Try to locate the general production areas on the map for each crops: corn, wheat, cotton and soybean.,1.2 Livestock Farming,Activiti
8、es:,Try to locate the general production areas on the livestock: cattle, hog and chicken production.,1.3 Fishing,The features of fishing industry in the us: a. vast area of EEZ b. 25,000 commercial fishing vessels c. annual revenue of $4 billion d. the fifth leading producer of the world,Question to
9、 ponder:,Both US an China are considered to be large agricultural countries. But no matter for annual revenue or live conditions of farmers , great differences exist between the two nations. Can you collect some information to analyze the situation?,Conclusion,For this part, we have the overview of
10、the USs economical situation and learned some very basic and detailed facts of the United States of its agriculture. From the lectures we should be able to know better about its leading economical position; features, development and spread of arable farmings, livestock farming and fishing.,Further r
11、eading and references (useful websites),http:/en.wikipedia.org/wiki/Economy_of_the_United_States http:/www.bls.gov/eag/eag.us.htm http:/www.usda.gov http:/www.nass.usda.gov/ http:/en.wikipedia.org/wiki/Agriculture_in_the_United_States有缘学习更多+谓ygd3076考证资料,2. Industry,With its highly diversified and te
12、chnologically advanced industry, the United States is by far the largest industrial country in the world. On the eve of World War , the U.S.A was responsible for one-third of the world industrial production. After World War , it witnessed a highly industrial development, especially in nuclear energy
13、 industry, electronics and aircraft.,Factors contributed to the industry: a. large area and population b. abundant resources c. vast market d. innovated technology,Discussion Topic,In the Chinese market, is there any American industrial productions? Do you think the commodities are highly changing o
14、ur life?,2.1 Energy Production,Coal mining is a major industry. The US was a net exporter of coal and it contains the worlds largest coal reserves. In the following picture, we can have a clear recognition of the coal regions and types in the US.,Coal Types and Regions,Coal Region of Schuylkill Coun
15、ty: One of the largest deposits of anthracite coal. Black Thunder Coal Mine: the first coal mine to ship 1 billion tons.,Question to Ponder,What is the location of the two famous coal mining, Coal Region of Schuylkill County and Black Thunder Coal Mine? Coal Region of Schuylkill County: Northeastern
16、 Pennsylvania Black Thunder Coal Mine: Gillette Wyoming,Oil and Gas,General Production Ranked third in petroleum production Most important gas and oil region is along the coast of Gulf of Mexico Texas is the largest producer of offshore oil. It produced 9.688 barrels of crude oil per day in 2010.,Th
17、e inventories of,Question to Explore,Study and compare the two charts above and discuss the question: Can you forecast the future of US oil production? Reference: The oil consumption is more than the production and import. However, the rich inventory can support the long-term consumption of the nati
18、on. The crude oil is the strategic resource and US government should have a thorough and complete plan to ensure the demand of US development. Tips: this question allows students to have free and different conclusions in reason.,Kaleidoscope,US Major Oil and Gas Producers ExxonMobil Corporation Type
19、: publicly traded international oil and gas company Headquarter: Irving, Texas Founded: November, 30,1999 Products: fuels, lubricants, petrochemicals Chairman: Rex Tillerson Revenue: US$ 486.429 billion (2011) Employees: 83,600,Texaco Type: American oil retail brand Headquarter: Harrison, New York F
20、ounded: 1901 Products: gasoline convenience store Chairman: John Wateson Parent: Chevron Company,Atlantic Richfield Company Type: Private Industry: Oil the aircraft industry is one of the most dynamic US industries. It makes up about 9 percent of the countrys gross domestic product and generates mor
21、e than 11 million US jobs. The industrys revenue for the year 2010 was approximately $131,757 million, with an estimated gross profit of 32%.,Do you know Boeing?,The Boeing Companyis an Americanmultinational corporationthat designs, manufactures and sellsfixed-wings aircraft,rotorcraft,rocketsandsat
22、ellites. It also provides leasing and product support services. Boeing is among the largest globalaircraft manufacturers, is the second-largestaerospace and Boeing Shared Services Group. In 2013, Boeing recorded $86.623 billion in sales, ranked 30th on theFortune magazine Fortune 500 list (2013), ra
23、nked 95th on the Fortune Global 500 list (2013), and ranked 26th on the Worlds Most Admired Companies list (2013).,Kaleidoscope,Latest News Report MH370 Could Be Worst Boeing 777 Accident,The loss of a Boeing 777-200ER operated by Malaysia Airlines (MAS) flight MH370 could be the worst air accident
24、involving the Boeing twin-aisle since the type entered service in 1995. Flight MH370 was carrying 227 passengers and 12 crew when it disappeared off radar in the early hours of March 8 after departing Kuala Lumpur destined for Beijing. The aircraft was en route to the IGARI waypoint on airway R208 a
25、t FL350. There is no evidence of a distress call from the crew. The flight operated as a code-share with China Southern, a member of the oneworld alliance which MAS joined in 2013. Two Boeing 777 hulls have been lost-a 2008 British Airways (BA) crash landing at Heathrow, later pegged to a fuel syste
26、m icing issue, and last years Asiana Airlines crash landing at San Francisco, which the NTSB is still probing. Both were 777-200s; the BA aircraft had Rolls-Royce Trent 800 powerplants, while the Asiana aircraft was powered by Pratt too much pressure might mean that China is less willing to cooperat
27、e and that it engages in retaliatory actions against the U.S. There are several things that U.S. policymakers should keep in mind about China. One is that China is a large country geographically, demographically and economically. This means that China cannot be bullied, especially since it is flush
28、with cash and has a huge domestic market that gives it leverage over foreigners. A second point is that China has a history of around 5000 years. Part of that history involved China in the role of major power and creator of a system in which foreign participants paid tribute to China, events which l
29、ive on in Chinese psychology in the form of pride. Another part of Chinese history is its “century of humiliation,” which has instilled within the Chinese a sense of grievance and fairness. A third point is that Chinese government officials see China as a developing country, at least when they want
30、special treatment on trade deals and other matters. The implication of this is that a “one-size-fits-all” approach may not work and that what is needed is sensitivity to local conditions.,One thing that China can do to help smooth relations with the U.S. is to further reform its economy. This might
31、include increasing transparency, making it easier to sell foreign agricultural goods in China and following through on the commitment to join the WTOs Government Procurement Agreement. What it should not involve is a simple imitation of American business practices some of which, such as excessive ri
32、sk-taking by financial institutions got the U.S. economy into serious trouble. The U.S. also has an important role to play. Instead of simply blaming China for its economic ills, it can get its own house in order. Elements of such an approach might include investment in education, improvement of the
33、 health care system, modernization of infrastructure, measures to reduce economic inequality, reform of campaign finance laws and efforts to prevent regulatory capture.Those measures are likely to do more to improve American competitiveness than harping on “unfair Chinese trade practices.”,3.2 Impor
34、t,America is the worlds richest country and largest importer. In 2013, the US bought US$2.33 trillion worth of imported products. That total is up by 45.5% since 2009.,Question to Explore,What might be the top US imports form the world?,Reference,1. oil: US$389.3 billion (16.7% of total US imports)
35、2. machines, engines, pumps: $311.2 billion (13.4%) 3. electronic equipment: $303.5 billion (13%) 4. vehicles: $253.3 billion (10.9%) 5. medical, technical equipment: $72.1 billion (3.1%) 6. gems, precious metals, coins:$ 67 billion (2.7%) 7. pharmaceuticals: $63.4 billion (2.7%) 8. organic chemical
36、s: $54.7 billion (2.3%) 9. furniture, lighting, signs: $51.4 billion (2.2%) 10. plastics: $46.5 billion (2%),Chart Analysis,Look at the following pie chart to analyze the change and reasons of the change of US imports by origin in the two years.,Kaleidoscope,Chinas exports to America amounted to $46
37、0.1 billion or 19.7% of overall US imports. Electronic equipment: $120.4 billion Machines, engines, pumps: $103.3 billion 3. Furniture, lighting, signs: $26.6 billion 4. Toys, games: $22.8 billion 5. Footwear: $17.7 billion 6. Knit or crochet clothing: $16.2 billion 7. Clothing (not knit or crochet)
38、: $15.5 billion 8. Plastics: $14 billion 9. Vehicles: $10.5 billion 10. Medical, technical equipment: $9.8 billion,3.3 Export,Worlds richest country the USA placed second in exporting during 2013. America shipped US$1.579 trillion worth of goods around the globe, up by 49.4% since 2009.,Question to
39、Explore,What might be the top US exports form the world?,Reference,1. machines, engines: US$213.1 billion (13.5% of total exports) 2. electronic equipment: $165.6 billion (10.5%) 3. oil: $148.4 billion (9.4%) 4. vehicles: $133.6 billion (8.5%) 5. aircraft, spacecraft: $115.4 billion (7.3%) 6. medica
40、l, technical equipment: $84.3 billion (5.3%) 7. gems, precious metals, coins: $72.8 billion (4.6%) 8. plastics: $60.8 billion (3.9%) 9. organic chemicals: $46.5 billion (2.9%) 10. pharmaceuticals: $39.7 billion (2.5%),News Report,US Exports Have Grown 294% Over the Past Decades China bought nearly $
41、109 billion worth of goods from the U.S. last year, according to ajust-released report from the U.S.-China Business Council. And that didnt even include Hong Kong, which alone imported a little more than $35 billion worth of goods from the U.S. in the same period. China now ranks as the U.S. third-l
42、argest export market, with exports there growing 294 percent from 2003 to 2012. By comparison, U.S. exports to the rest of the world have grown only 111 percent in the same period.,Kaleidoscope,The following pictures will give you a snapshot of US export and its relationship with China.,Conclusion,I
43、n this section, we have learned some very basic facts of the trade information of the United States: its trade policy, import and export. From the lecture we know the evolution of its trade policies, trading situation with the other countries, especially the Sino-US trade relationship.,Useful websit
44、e,http:/en.wikipedia.org/wiki/Foreign_trade_of_the_United_States http:/www.ustda.gov/ http:/export.gov/ http:/www.bis.doc.gov/ http:/www.fas.org,4. Tourism,Tourism in theUnited Statesis a large industry that serves millions of international and domestic tourists yearly. Tourists visit the US to see
45、natural wonders, cities, historic landmarks, and entertainment venues. Americans seek similar attractions, as well as recreation and vacation areas.,Tourism in the United States grew rapidly in the form of urban tourism during the late nineteenth and early twentieth centuries. By the 1850s, tourism
46、in the United States was well established both as a cultural activity and as an industry. New York,Chicago,Boston,Philadelphia,Washington D.C., andSan Francisco, all major US cities, attracted a large number of tourists by the 1890s. By 1915, city touring had marked significant shifts in the way Ame
47、ricans perceived, organized, and moved around in urban environments.,Democratization of travel occurred during the early twentieth century when the automobile revolutionized travel. Similarlyair travelrevolutionized travel during 19451969, contributing greatly to tourism in the United States. Purcha
48、ses of travel and tourism-related goods and services by international visitors traveling in the United States totaled $10.9 billion during February 2013.,Question for discussion,Do you like traveling? Why or why not. What might the reasons for you to travel in US?,4.1 Domestic Travel,Question to Pon
49、der What are the motivation to travel of domestic travel?,Hint,Maybe, your motivation to travel in domestic places would be the desire to reach a new place that is just within your country. It could also be that you want to visit a place in your country that you have not seen before. Appreciating what your country offers you in terms of tourism is enough to convince you to travel.,4.2 Outbound Travel,U.S. Overseas Outbound Travel increases by 6% in 2012 U.S. travel to overseas markets reached 25 million, up