Earning money
The British’s attitudes to work
In general, the British lack of enthusiasm for work which is a slow change.
Leisure has historically symbolized aristocracy, influencing Britain's class system and its societal dynamics In a culture where work is essential, the perception of leisure as a more desirable and refined activity underscores the notion that the less work resembles traditional labor, the more prestigious it appears.
Traditionally, therefore, if you do non-manual work, you must be in the middle class In fact, skilled manual (or “blue-collar”) workers have to work harder than
In the UK, "white-collar" workers typically begin their workday later than many European counterparts, with manual workers starting around eight o'clock and non-manual workers at nine The British workforce values leisure time, balancing hard work with the importance of downtime The standard workweek runs from Monday to Friday, 9 am to 5 pm, and it is uncommon for employees to work on Saturdays Additionally, the British cherish their annual leave, which consists of four weeks, and they would never consider sacrificing a day off.
Attitudes towards work in Britain are evolving, as many British people are not lazy The standard lunch break typically lasts an hour or less, and most employees, particularly those not in part-time roles, work until 5 PM or later Additionally, it is common for individuals to put in several hours of overtime each week.
A significant number of British individuals remain in the workforce for much of their lives, with the typical retirement age being sixty-five, and sixty for some, particularly women Despite blue-collar workers earning higher wages than many lower-tier white-collar jobs for decades, this has only minimally shifted societal views Currently, over half of the workforce engages in non-manual labor, yet a majority still identify as working class.
Class distinctions in Britain unjustly influence the types of work available, perpetuating inequality in earnings Traditionally, compensation is categorized differently, with non-manual workers receiving salaries while manual workers earn wages Additionally, professional organizations like the National Union of Teachers have historically remained separate from the Trades Union Congress, highlighting the divide within the labor landscape.
How do the British often recruit? And how can the British find jobs?
In Britain, individuals primarily seek employment through three key channels: national newspapers for high-quality job listings, local job centers operated by the government, and privately-run employment agencies that charge a commission to employers.
The unemployment rate in Britain has steadily increased, particularly due to the impact of the Covid-19 pandemic, placing a significant strain on the government While job opportunities in the service sector, such as communication, health care, and social care, are on the rise, traditional 'men's work' is declining due to the fall of heavy industry In 1994, the number of unemployed men was two-and-a-half times greater than that of unemployed women Despite men seeking employment in roles traditionally viewed as female-oriented, such as nursing, childcare, retail, and secretarial positions, they often face hiring challenges in these fields.
In Britain, female are paid less than male even same jobs In 1993, the average full-time male employee earned about 50% more than the average full-time female worker.
In Vietnam, gender pay equality appears to be present, with men and women receiving similar salaries However, women face greater challenges in advancing to higher positions compared to their male counterparts Job opportunities in Vietnam are comparable to those in Britain, and class distinctions rarely dictate the types of work available Instead, Vietnamese culture tends to prioritize individual abilities over one's background or social status.
Work organization
There are 3 large work organizations: Confederation of British Industry (CBI), The Trades Union Congress (TUC), and the National Union of Farmers (NUF).
- CBI and TUC are two organizations representing employees in business:
The Confederation of British Industry (CBI) serves as the primary representative organization for private industry employers in the UK With the majority of employers as members, the CBI's guidance to trade unions and government bodies carries significant weight and influence.
+ The Trades Union Congress (TUC) is a voluntary association of the country’s trade unions There are more than a hundred of these, representing employees in all types of business.
The National Union of Farmers (NUF) is a notable organization that operates independently of the TUC, primarily consisting of agricultural employers and independent farmers Despite the small percentage of the population involved in agriculture in Britain— the lowest in the EU— the NUF wields significant influence This impact can be attributed to the British public's enduring fascination with land and agriculture, which facilitates the NUF's ability to advocate for its interests, particularly as many of its members possess considerable wealth.
Most British unions are tied to specific occupations and often align with the Labour Party, where members contribute a 'political levy' from their union dues Members have the option to "contract out" of this contribution if they choose Typically, unions are not organized by political affiliation, resulting in a single union representing each group of employees rather than multiple unions for different political parties within the same group.
Unions operate through local branches known as "chapels," a term rooted in historical ties to nonconformist movements Within the workplace, a shop steward represents the union, engaging in negotiations with on-site management The shop steward, predominantly male, often faces challenges from the foreman, an overseer appointed by management, a dynamic that has become a significant aspect of twentieth-century labor folklore.
Since 1979, union membership in the UK has been on a decline, largely influenced by government legislation in the 1980s aimed at limiting union power Prior to this shift, the General Secretary of the TUC was a highly influential figure, often consulted by the Prime Minister and other key government officials, with union members constituting over half of the employed population However, growing public disillusionment with union power prompted these restrictions Additionally, the traditional focus of British unions on full-time male industrial workers has become less relevant due to the rise of female and part-time workers in the labor force In response to these challenges, the TUC announced in 1994 its intention to strengthen ties with parties beyond the Labor party to counteract the decline in membership.
The structure of trade and industry
The structure of trade and industry in 19 th century
The modernization of business and industry in Britain occurred later than in many other European nations, leading to a period of poor industrial performance in the decades after the Second World War However, British agriculture thrived during this time, benefiting from a long-standing tradition of large-scale organization that distinguished it from other European countries.
In the aftermath of World War Two, Britain faced significant debt, a situation mirrored globally However, this period allowed the country to refocus its financial resources on domestic development rather than overseas conflicts Consequently, the establishment of a new welfare state enabled even the most disadvantaged citizens to benefit from the nation’s economic progress.
Britain emerged as a global leader in high-tech sectors, including aerospace and computer software, while also excelling in financial services The adoption of new economic theories enabled the government to effectively manage the economy Additionally, Britain capitalized on the communications revolution, which encompassed innovations like the motor car, air travel, television, the internet, mobile phones, and social networking, contributing to a more interconnected world.
Until the 1960s, Britain was part of a trading community based on the Empire In
1973, Britain joined the European Economic Community, and became part of a trading community based on free trade between the countries of Europe.
In the early 20th century, Britain's key industries included coal, iron and steel, engineering, and textiles However, these sectors experienced a decline, prompting a shift towards more specialized manufacturing, particularly in aerospace, alongside the growth of service industries like finance and tourism This transformation significantly altered the job landscape and the skill sets required for employment.
Britain's economic system, like that of other European nations, combines both private and public enterprises Over the past fifty years, the extent of state control over the economy has varied significantly, sparking ongoing political discussions.
By the close of the 20th century, governments began prioritizing 'sustainable development' alongside economic growth and prosperity This approach emphasizes growth that safeguards the environment and conserves non-renewable resources, ensuring their availability for future use and enabling continued economic expansion.
From the Middle Ages to the 20th century, the UK economy experienced both growth and decline The Middle Ages saw a successful trade system that contributed to economic prosperity, despite pockets of poverty, particularly in areas of London However, this poverty was less severe than that experienced during the Victorian era The economic affluence of the time led to the establishment of numerous charities aimed at assisting the less fortunate.
Agricultural systems and mining began to emerge in the Middle Ages, laying the groundwork for economic activities The Industrial Revolution later introduced significant technological advancements, leading to substantial economic growth, but also resulted in overcrowding and poverty in certain areas.
The growing population challenged charities' ability to cope independently, while Britain's ongoing participation in overseas conflicts adversely impacted the economy However, following World War II, the situation improved significantly, with the establishment of a new welfare state that enabled even the most disadvantaged individuals to secure their place in society.
The structure of trade and industry in 20 th century
Trade is essential to the UK economy, accounting for nearly half of its GDP, in contrast to the US, where foreign trade constitutes about one-fifth of GDP In recent years, the UK has seen consistent growth in both exports and imports Key exports include machinery, automobiles, electrical equipment, chemicals, and oil, with financial services also playing a significant role in enhancing the trade balance The UK relies on imports for approximately one-tenth of its food and one-third of its machinery and transport equipment.
The United Kingdom's trade has increasingly shifted towards other developed nations, particularly following its accession to the European Economic Community, which significantly altered trade dynamics By the early 21st century, nearly half of the UK's trade was conducted with European Union partners, although the United States continued to be the UK's largest single export market and a key supplier.
Germany was the leading supplier and the second most important export market.
As the United Kingdom embarked on its economic transition in 2020 following Brexit, the potential shift in its trading relationships with partners remained uncertain.
From the mid-1980s to the late 1990s, the United Kingdom experienced a deficit in its overall balance of payments due to visible imports surpassing exports Despite this, significant overseas investment and increasing foreign earnings were noted The UK government promoted trade liberalization and engaged with international trade organizations By the late 1990s, a resurgence in exports of goods and services, along with rising foreign earnings, led to the first balance-of-payments surplus in over ten years.
The impacts of the COVID-19 on UK trade:
In the three months leading up to April 2020, total trade (excluding precious metals) experienced significant declines, with exports dropping by £33.1 billion (19.3%) and imports decreasing by £29.9 billion (17.6%) These declines marked the most substantial three-monthly decreases recorded since 1997.
Since January 2019, the UK has experienced declines in both monthly exports and imports, with the most significant drops occurring in March and April 2020 In April, exports, excluding precious metals, decreased by £9.0 billion (19.3%), while imports fell by £11.7 billion (23.8%), marking the largest monthly declines on record These unprecedented reductions in trade align with the onset of lockdown measures in the UK and globally.
100 countries instituting full or partial lockdown in March.
Figure 1: Falls were seen in total monthly imports and exports, excluding precious metals, in January to April 2020
Percentage changes in total trade exports and imports, excluding non-monetary gold and other precious metals, month-on-month, April 2019 to April 2020
Source: Office for National Statistics – UK trade
Trade in services saw the largest fall in exports and imports in the three months to April 2020, falling £19.5 billion (23.0%) and £18.1 billion (31.4%) respectively
(Figure 2) Falls in imports and exports were seen in other business services, travel services and transport services.
The global lockdowns and border closures significantly affected the tourism sector, leading to a dramatic reduction in flights and maritime travel Following the UK's lockdown, 90% of flights were grounded, resulting in a staggering 92.8% monthly decline in the air transport industry (BBC).
In April 2020, the UK economy experienced significant disruptions due to coronavirus-related restrictions, particularly affecting travel and transport services Other sectors, such as advertising, faced substantial declines, with an average decrease in advertising spend of 9% across Europe (World Economic Forum) A comprehensive analysis of the impact on trade in services will be released once the relevant data becomes available.
The coronavirus pandemic significantly affected trade in goods, with exports decreasing by £13.7 billion (15.7%) and imports by £11.8 billion (10.5%) in the three months leading up to April 2020 April 2020 marked the steepest decline, recording a monthly drop in exports of £3.7 billion (14.9%) and imports of £6.5 billion (18.4%).
In the first four months of 2020, there was a noticeable decline in monthly imports and exports, excluding non-monetary gold and other precious metals, as well as services.
Source: Office for National Statistics – UK trade
The distribution of wealth
Definition of wealth
Wealth refers to the accumulation of scarce resources, distinguishing individuals, organizations, and nations that possess significant valuable assets Unlike income, which represents a flow of money, wealth is considered a stock of resources Additionally, wealth can be assessed in both absolute and relative terms, highlighting its varying significance across different contexts.
Wealth can be defined in multiple ways, primarily encompassing all tangible resources an individual possesses The most prevalent financial measure of wealth is net worth, which reflects an individual’s overall financial standing.
Definitions and measures of wealth have been different over time among societies In modern society, money is the most common means of measuring wealth.
Wealth is often measured in monetary terms, highlighting money's role as a unit of account; however, external factors can significantly influence its value, affecting wealth measurement This monetary system offers a convenient way to compare wealth, although alternative measures like land and livestock have historically been used For example, ancient Egyptians valued wealth based on wheat, while herding cultures typically considered sheep, horses, or cattle as indicators of wealth.
Measuring wealth in monetary terms simplifies the evaluation of diverse goods, allowing for the aggregation of values This approach enables the use of net worth as a clear indicator of wealth, calculated as assets minus liabilities For businesses, net worth is often referred to as shareholders' equity or book value Essentially, net worth represents the total real resources an individual or entity controls, excluding any assets that belong to others.
Wealth is a stock variable that quantifies the total accumulation of valuable economic goods at a specific moment, while income is a flow variable that reflects the money or goods earned over a certain period Income contributes to changes in wealth over time, meaning that individuals with a positive net income will see their wealth grow Similarly, Gross Domestic Product (GDP) serves as a measure of income for countries, although it is frequently mistaken for a measure of wealth.
Distribution of wealth
In the early 1970s, Britain boasted one of the most equitable wealth distributions in Western Europe; however, by the early 1990s, it had transformed into one of the least equitable While the wealthy became richer, the poor remained stagnant, leading to a significant wealth gap reminiscent of the late nineteenth century Surveys indicated that a substantial number of households were living below the poverty line, struggling to afford essential needs like food and healthcare.
Wealth is distributed more unequally than income, representing the total assets owned by an individual or household at a specific moment, which includes financial holdings, savings, and often the family home In contrast, income is the money received over time, encompassing wages, salaries, and government assistance Understanding social inequality is crucial, as wealth is a key factor; it generates income, making income inequality partially dependent on wealth inequality.
A report by the Institute for Public Policy Research (IPPR) highlights the growing inequality in modern Britain, indicating that the nation's financial well-being is unevenly distributed based on income, geography, gender, ethnicity, and age The UK is ranked as the fifth most unequal country in Europe.
Over 20% of the population lives below the poverty line after accounting for housing costs, despite the fact that many of these households are employed Additionally, nearly one in three children are affected by poverty, and the demand for food banks continues to increase.
Wealth inequality in the UK is striking, with the top 20% of households earning six times more than the bottom 20% Furthermore, a staggering 44% of the nation’s wealth is concentrated in the hands of just 10% of the population, which is five times greater than the total wealth possessed by the poorest half of society.
In 2016, the Office for National Statistics reported that the wealthiest 10% of households in the UK possessed 44% of the nation's total wealth, while the bottom 50% owned merely 9% Additionally, the World Inequality Database revealed that the wealth share of the top 0.1% had doubled, highlighting significant disparities in wealth distribution across the country.
The graph below shows how wealth distribution has changed since the last century for the top 10%, who have consistenlty held the majority of wealth:
Wealth Spread Between Great Britain’s Regions and Nations
Wealth distribution in Great Britain is highly uneven, with the South East region emerging as the wealthiest, boasting a median household total wealth of £387,400 In stark contrast, households in the North West have a median wealth of only £165,200, highlighting a significant disparity in financial resources across the country.
Over 50% of UK’s adult population has more than USD 97,169 wealth, as of
2018 With its 2.4 million dollar millionaires, the UK is home to more than 6% of all millionaires globally:
The UK exhibits a significant income inequality compared to other developed nations, reflected in its Gini coefficient of 0.35 Based on 2013 data from 19 OECD countries within the Luxembourg Income Study dataset, the UK ranks as the fifth most unequal country overall and the fourth most unequal in Europe.
Reasons for distribution of wealth in Britain
Rates of income tax changed
- For a short period 1960s - 1980s, the basic rate was 40%.
- By the early eighties it was 30% then went down to 25%.
The top rate of income tax fell from a high of 98% to 40%.
Rates of pay for the best-paid jobs increased faster than those for badly-paid jobs.
- In the UK, a marginal tax rate system:
Mean income tax is charged on income above a certain level.
Not mean if you earn £200.000 you pay 50% on the whole £200.000 You only pay 50% on the income earned above £150.000 after the personal allowance is included.
An increase in the number of people on benefits
The number of people receiving state benefits is still around 5 million despite falling unemployment
An increasing number of people on state benefits such as sickness and incapacity benefits.
Arguably there is disguised unemployment meaning that many people have lower incomes.
Rising property values have reduced disposable incomes for many young people.
An increasing percent of incomes has been spent on housing costs.
Also an undeniable increase in wealth inequality, which often leads to income inequality.
There has been an increase in part time/ temporary work.
This work is not protected by trades unions and tends to be low paid.
The minimum wage is limited in its ability to reduce inequality.
Many of those who benefits from the NMW are second income earners or students who are not particularly poor.
Increase in regressive indirect taxes.
Taxes on alcohol, petrol and cigarettes have increased faster than inflation.
Taking a high percent of people’s disposable income particularly affected groups such as the single unemployed.
Inflation for pensioners has been higher than the CPI rate.
This because pensioners spend a higher percent of income on goods like
These goods have been increasing faster than inflation, leaving pensioners relatively poorer.
Finance and Investment
Transportation
The High Speed 2 (HS2) project aims to revolutionize transportation in northern England, enabling trains to reach speeds of up to 400 kilometers per hour and connecting two-thirds of the region's population to the capital within two hours Drawing on the successful strategies from the London 2012 Olympic Games, the Government has allocated a budget of £42.6 billion for construction and £7.5 billion for rolling stock, complemented by a robust cost control framework Additionally, a dedicated HS2 growth taskforce, led by Lord Deighton, will be established to harness the economic opportunities generated by this transformative project.
Network Rail has received confirmation to invest over £9 billion in significant rail projects from 2014-15 to 2018-19 This investment includes contributions to Crossrail, Europe's largest infrastructure project, and improvements to Thameslink in London Additionally, it aims to strengthen east to west rail connections from Liverpool to Newcastle via the Northern Hub, open the Bedford to Oxford line, electrify the Great Western line, and establish a new "Electric Spine" linking Yorkshire, the Midlands, and the south The initiative also focuses on replacing diesel trains with faster, more reliable electric trains on the Great Western Line to Wales and the East Coast Main Line to Scotland.
A feasibility study will be conducted to explore funding and financing options for Crossrail 2, aiming to establish a framework for the project to be predominantly privately financed, with a target of securing at least 50% of the total costs from private investments.
The proposal involves devolving a portion of the West Anglia franchise to the Mayor of London, aiming to seamlessly integrate rail services with the broader London transport network Additionally, it seeks funding for the electrification of the Gospel Oak to Barking rail corridor, enhancing a vital freight route and boosting reliability for passengers.
Energy
The organization is set to unveil its proposed "strike prices" for renewable energy generation, which will take effect next year These prices will be stable and legally binding under new Contracts for Difference for large-scale generation, subject to consultation and state aid approval For the first time, the rates will be fixed rather than tied to volatile wholesale prices, thereby reducing the investment risks and enhancing the appeal of new technologies like wind power.
A new regime will be established to ensure the availability of sufficient power stations when needed This will involve payments through a capacity market, with allocations determined by auctions set to begin in 2014 for delivery in the 2018-19 period.
The UK government is set to unveil a detailed reform package aimed at enhancing shale gas exploration This initiative will include proposals focused on the tax framework, planning processes, and community benefits, positioning the UK as a leader in attracting investment in the shale gas sector.
is publishing the British Geological Society study on the amount of shale gas resources in Bowland Shale This shows that the total volume of gas in the
The Bowland Hodder shale in northern England is estimated to contain approximately 1,300 trillion cubic feet of shale gas, significantly surpassing the recent estimate by the US Energy Information Administration, which places the UK's total shale gas resources at around 600 trillion cubic feet.
In 2015-16, an additional £800 million will be allocated to the Green Investment Bank (GIB), allowing for significant investments in low carbon infrastructure projects, such as renewable energy, waste management, and energy efficiency initiatives.
The UK is advancing its initiative to develop a new generation of nuclear power stations by confirming that the Hinkley Point C project qualifies for a UK government guarantee Additionally, the government is investing £75 million in innovative energy projects aimed at exploring methods to permanently decrease electricity demand.
Science and innovation
The Government aims to establish the UK as the leading destination for scientific research by committing to maintain resource funding for science at £4.6 billion for 2015-16 Additionally, there will be a real increase of £185 million in funding for the Technology Strategy Board (TSB) to foster innovation Science capital funding will rise from £0.6 billion in 2012-13 to £1.1 billion in 2015-16, with adjustments for inflation through 2016-17 This initiative also ensures long-term stability for science infrastructure by implementing a capital budget that increases with inflation annually until 2020-21.
These commitments allow the Government to:
The UK is set to enhance its research capabilities across the Eight Great Technologies by establishing a national network of Big Data institutes, upgrading existing facilities at Harwell, and developing a polar satellite communication system Significant investments will also be made in autonomous robotics and research facilities aimed at addressing dementia.
strengthen links between business and academia by extending the Research
Partnership Innovation Fund (RPIF) to 2016-17, making available at least £100 million per year of match funding to leverage private funding for scientific infrastructure;
New businesses can effectively connect scientific discoveries with commercial applications by leveraging continued investment in Catapult Centres These centres play a crucial role in transforming high-potential ideas into innovative products and services, ultimately driving economic growth.
invest in the development of high priority projects such as the Synergistic
Air Breathing Rocket Engine (SABRE) and a new High Performance Computer for theMet Office.
Housing
in new homes In particular the Government:
Between 2013-14 and 2015-16, the UK government plans to invest £3.7 billion in England and offer up to £12 billion in guarantees nationwide through the Help to Buy initiative This program aims to help the current generation achieve home ownership similar to their parents The Help to Buy: equity loan scheme has already facilitated over 4,000 new build home reservations within its first two months, with a target of supporting up to 74,000 sales by 2015-16 Additionally, the Help to Buy: mortgage guarantee is set to launch by January 2014.
The government is allocating over £3.3 billion in new funding for affordable housing from 2015 to 2018, aiming to support the construction of 165,000 new affordable homes in England within three years This initiative also offers a decade of stability regarding social rents.
The government is set to transform the process of public land sales by consolidating all disposals within a single agency This initiative, coupled with major planning reforms like the National Planning Policy Framework, is expected to significantly enhance the availability of land for development.
is providing £1 billion of loan finance between 2013-14 and 2015-16, as well as the use of guarantees, to support new build private rented homes in England.
5.5 Digital communications Developments in communications technology have driven some of the biggest economic transformations in the last century They enable fundamental change to the way the economy is connected, creating vast new possibilities and opportunities The Government is committed to putting the UK at the forefront of this revolution through:
The UK government is investing up to £250 million, with local match funding, to enhance superfast broadband availability, aiming to ensure that 95% of UK premises have access to this service by 2017.
To achieve at least 99% coverage of premises in the UK by 2018, the focus is on collaborating with the industry to implement innovative fixed, wireless, and mobile broadband solutions This includes investing in clearing high-value spectrum to meet the growing demand for next-generation mobile services and conducting an additional auction of 4G spectrum.
introducing a new system of departmental charges for Government spectrum access to ensure the public sector is playing its part in the efficient use and management of valuable spectrum.
Spending money: Shopping
Attitudes
In both countries, the behaviors of individuals in different societal stages show clear similarities The terms "blue-collar" and "white-collar" evoke distinct images, with blue-collar workers typically earning less than their white-collar counterparts While white-collar workers often perform desk jobs in the service industry, blue-collar workers engage in manual labor or manufacturing roles, highlighting the contrasting nature of these occupations.
White-collar workers often possess a broader educational background compared to blue-collar workers While various characteristics differentiate these two employee types, dictionary definitions fall short in clearly defining their distinctions, primarily hinting at differences in social class.
White-collar workers typically earn higher salaries than blue-collar workers and belong to a distinct social class However, in both Vietnam and England, this distinction does not fully address the quantitative differences in annual income, years of post-secondary education, or the skill sets of each group.
How workers getting paid
The National Minimum Wage is worked out at an hourly rate, but it applies to all eligible workers even if they’re not paid by the hour.
This means that, however someone gets paid, they still need to work out their equivalent hourly rate to see if they’re getting the minimum wage.
There are different ways of checking that workers get the minimum wage depending on whether they are:
P aid by the hour (known as ‘time work’)
P aid an annual salary , under a contract for a basic number of hours each year (known as ‘salaried hours’)
P aid by the piece - the number of things they make, or tasks they complete (known as ‘output work’)
P aid in other ways (known as ‘unmeasured work’) Usually, in UK, money which is known as wages is paid everyweek in cash for
“manual workers” who are evaluated by hour/ week and “ Non- manual workers are evaluated by year, known as salary, paid every month in cheque or card.
In Vietnam, the term "salary" encompasses the monthly payments for both manual and non-manual workers The key distinction lies in the evaluation method: manual workers are compensated based on the number of hours they work, while non-manual workers receive a fixed monthly salary.
The economy structures
Vietnam's economy is characterized as a socialist-oriented market economy, ranking as the 36th largest globally in terms of nominal gross domestic product (GDP) and the 23rd largest when assessed by purchasing power parity (PPP).
Since the mid-1980s, Vietnam has transitioned from a centralized command economy to a mixed economy, incorporating both directive and indicative planning through five-year plans and embracing an open market-based system This significant shift has led to rapid economic growth during the Đổi Mới reform period.
In the 21st century, Vietnam is in a period of being integrated into the global economy.
Vietnam's economy is predominantly composed of small and medium enterprises (SMEs), making them a crucial part of the business landscape The country has emerged as a top agricultural exporter and a prime destination for foreign investment in Southeast Asia Currently, Vietnam's economic growth heavily depends on foreign direct investment, which plays a vital role in attracting overseas capital This influx of investment is particularly focused on the luxury hotel and resort sector, aimed at bolstering the high-end tourism industry.
The United Kingdom boasts a highly developed social market economy, ranking as the fifth-largest national economy globally by nominal GDP and ninth by purchasing power parity (PPP) It accounts for 3.3% of the world’s GDP and is notable for its significant foreign direct investment, being the second-largest for inward and third-largest for outward investments Comprising England, Scotland, Wales, and Northern Ireland, the UK is one of the most globalized economies, with the European Union, including its 27 member states, serving as a crucial trade partner, representing over 52% of its imports and exports as of 2020.
Meals
When comparing Vietnamese and English cultures, notable differences emerge in various aspects such as literature, music, and the arts A significant highlight of these cultural distinctions lies in their culinary practices This article will explore the key differences between Vietnamese and English cuisines.
Both English and Vietnamese cultures traditionally feature three meals a day, but their culinary foundations differ significantly British cuisine typically centers around meats such as beef, lamb, pork, chicken, and fish, often accompanied by potatoes and a vegetable In contrast, Vietnamese meals primarily consist of rice, pork, and various vegetables, highlighting the distinct ingredients and flavors of each cuisine.
British cuisine features common dishes such as sandwiches, fish and chips, trifle, and roast dinners, contrasting with Vietnam's pho, banh mi, and xoi A typical English breakfast often includes cereal, toast, orange juice, and coffee, while Vietnamese breakfasts typically consist of pho or banh mi The dining etiquette also differs; British people use knives, forks, and spoons, while Vietnamese diners primarily use chopsticks and spoons In Britain, napkins are standard, and drinking occurs during meals, whereas Vietnamese diners wash their hands before and after eating and drink afterward Rice serves as the main starch in Vietnam, with meat cut into small pieces, while in Britain, potatoes or bread are staples, and meat is served in larger portions Additionally, British diners often pray before meals, while in Vietnam, it is customary for younger members to invite others to eat These culinary differences highlight the distinct cultural identities of Britain and Vietnam.
The integration between Vietnam and Britain has led to significant cultural exchange, particularly in cuisine Numerous establishments in Vietnam now offer traditional British dishes like sandwiches and fish and chips, reflecting the growing popularity of British food Conversely, British restaurants are increasingly incorporating Vietnamese flavors, showcasing the rich culinary diversity resulting from this cross-cultural interaction.
Working times
In UK:The UK's Working Time Regulations 1998 lay down the minimum conditions relating to weekly working time, rest entitlements and annual leave in the
UK, although UK employees can opt out of the provisions relating to the minimum 48- hour working week.
This factsheet details the fundamental rights and protections employees have regarding working hours, including mandatory leave for public duties, court service, trade union activities, military training, and parental leave It also addresses the necessity for time off for personal and domestic reasons, ensuring that employers comply with these essential employee entitlements.
Employees are entitled to 28 days’ paid statutory annual leave (reduced pro rata for part-time employees) This may include the eight public holidays.
In Vietnam, the standard working hours are from 7:30 a.m to 4:30 p.m., including a minimum one-hour lunch break Employees are entitled to one day off each week, along with an additional 12 vacation days annually Legally, the maximum work limit is set at 48 hours per week.
Each year, there are at least nine holidays, encompassing both local and official observances, with the potential for additional holidays based on your specific region If a holiday falls on a Sunday, the day off is typically rescheduled to the following Monday.
Public Holidays
Gio to Hung Vuong Festival
Liberation/Reunification Day Holiday: April 30
National Day is celebrated on September 2, while the Hung Kings Commemoration Holiday occurs on April 2, which is a Thursday this year This holiday honors the Hung Kings, the traditional founders of the nation, and is observed on the 10th day of the third lunar month.