Growth in the 21st century Flashcards
1
Q
What % of the worlds population do new markets represent?
A
75%
2
Q
What countries does this include?
A
NICs (China, India)
Wealth oil producing countries (Saudi Arabia)
3
Q
Reasons for moving to more open markets
A
- Political reforms (Russia - fall of communism)
2. Removal of trade barriers
4
Q
Growing demand in these countries for…
A
material goods eg. luxuries, cars, services
5
Q
How had this helped more developed countries?
A
Grow economy as new markets are available to increase profits
