ABSTRACT

The last twenty-five years of the 20th century witnessed dramatic changes in the UK economy. Traditional industries, such as coal and shipbuilding, have all but disappeared. Other sectors, such as motor vehicles or consumer electronics, once seen as strategic growth sectors, are now almost entirely owned and run by foreign firms. New firms, such as Vodaphone and AstraM Zeneca, unheard of in 1980, have now emerged as world giants.