CHANGING ECONOMIC WORLD- United Kingdom Flashcards
causes of economic change:
- deindustrialisation
- decline of traditional industrial base
- globalisation
- government policies
what is globalisation?
the process which has created a more connected world, with increases in the movements of goods (trade) and people (migration and tourism) worldwide
what is deindustrialisation?
the decline of a country’s traditional manufacturing industry due to exhaustion of raw materials, loss of markets and competition from NEEs
what is a government policy?
a plan or course of action decided by a government to manage issues in a country
causes of deindustrialisation:
- Increasing cost of production
- globalisation- competition from low wages
- declining investment
- changing government policies
- cycle of decline
- increased competitiveness of tertiary industries thanks to education and technology
which parts of the UK have been most affected by deindustrialisation?
Cornwall
what is a post industrial economy?
the economy of many economically developed countries where most employment is now in service industries
5 industries in a post industrial economy (ISSFR):
- information technology
- service industries
- finance
- research
- science + business parks
what does the M4 connect?
London to Bristol
what companies are on the M4 corridor?
- Microsoft, Sony, Vodafone
- located in out of town business parks
how much of the UK’s economic output does the M4 corridor produce?
8%
example of post industrial UK economy:
Cambridge Science Park
80 km North of London
East England
how many bio- technology companies in CSP?
1,500
how many employees in CSP?
7,250
how far is the CSP from Stanstead airport?
40km
advantages to CSP?
- excellent health facilities for locals- Adenbrooke Hospital
- Investment into the local public transport sector
- Cambridge has a reputation as world leader in medical research- brings investment
disadvantages to CSP:
- house prices rising due to demand in the area
- Cambridge is increasingly congested with traffic and pedestrians
- rail and road links can’t cope with the demand fast enough
why have companies clustered together at the CSP?
- they have ampler highly skilled workers
- “campus style” offices
- share expensive equipment
what companies are at the CSP?
Abcam (antibodies Cambridge), working on research into cancer, metabolism and providing antibodies.
Sells 100,000 antibody products to over 140 countries
four environmental impacts of Limestone Quarrying in Torr Quarry Somerset:
- habitats destroyed
- release harmful gases (CO2)
- decline in water quality as chemicals washed into rivers
- pollution due to dust
negatives of quarrying at Torr Quarry:
- low paid jobs
- decreased production (8 to 5 million tonnes of limestone)
- transporting things to and from the site- CO2 emissions
- lots of noise + vibrations
positives of quarrying at Torr Quarry:
- £15 million to the local economy each year
- quarry is being restored to create wildlife lakes for recreation and water supply
- 100 jobs for local people
what road improvements has the government put in place?
- A303 by stone henge, building a 2 mile tunnel to prevent rubberneck at stone henge, also a dual carriageway
- 1300 new lane miles
- smart motorways
what railway improvements has the government put in place?
- electrification of Midland mainline between London and Sheffield by 2023
- High speed 2 (HS2) connecting London- Manchester, worth £50 billion, cuts travel time + increases rail capacity- better economy
