I will look at the major economic events of the year in pictures and give a quick explanation on why in their own way they shaped the world.
January 2011: The US and China sign an unprecedented $45billion
export deal which included the transfer of 200 Boeing aeroplanes. The
meetings between President Barack Obama and President Hu represented the
beginning of a new diplomatic relationship between the two most economically
powerful nations on Earth. Whilst, also helping Boeing catch up with its
arch rivals airbus in the power battle of the plane makers.
February 2011: Honda, the Japanese car company was forced to recall
700,000 of its cars due to a defective spring which may cause its cars engines
to stall. The problem affected its Fit, Freed and City compact cars and came as
a major financial cost to Honda. The recalls in Japan meant that developments
of its new concepts were pushed back for three months, and several plants were
forced to close down.
March 2011: The Japan earthquake tore apart the country both socially
and economically. 45, 700 buildings were completely destroyed whilst a further
144,300 were damaged. Production was also forced to halt in most factories
forcing Japan's economic growth to practically halt for the last year. Despite
this Japan's stock market did manage to carry on as normal throughout most of
the natural disaster.
April 2011: The British royal wedding created a wave of euphoria in not
only Britain but the whole world. 2.82million people flocked to the UK in May
many to specifically watch the wedding itself. This is the highest figure ever
for the UK and provided a welcome boost for the UK economy. People were also
notably less frugal around the time of the royal wedding with spending in May
roughly 15pc higher than in the prior three months.
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