The global economic shift Flashcards
Who was the dominant economy at the start of the 19th century
China
Who experienced a period of dominance between 1840 and 1940
Europe
Why was Europe so dominant between 1840 in 1940
Following the industrial revolution and maturing of industry
When did the USA start to rise to economic power
End of the 19th century and since the end of the Second World War USA has been the dominant global power
What happened to the global economic centre of gravity overtime
Originated around China and then slowly moved more towards the west and America until around the 1980s when it’s began shifting back towards the east and china
Why is manufacturing mainly done in the Pacific rim
Easiest trade routes to the USA as no land has to be cross Only Ocean
What does China have a huge supply of
Cheap labour
What Type of economy is China
Emerging economy
Why is China becoming an economic power?
Shifting pattern of global trade and production especially for lower prices
When did the global economic shift begin back towards China
In the 1950s
Why did the global economic shift start to accelerate in the 1960s
As low-tech production for example of textiles and toys move to Asian tiger economies
What is an example of an Asian tiger economy
Taiwan
What happened in the 1980s that again accelerated the shift
When consumer electronics flourish in Japan
Why did the shift continue towards Asia in the 1990s
Electronic production was outsourced to China and other low-cost locations
What reinforced the global economic shift
The 2008 financial crisis
How did the 2008 financial crisis reinforce the global shift
Trade balance between the emerging economies increased while those are developed countries experienced relative decline
How is Mardi Gras link to the exploitation of cheap labour
The commodious beads which are given out at the festival are produced in Chinese “sweatshops “
Where is the largest bead factory located (Mardi Gras)
Tax-free special economic zone Fuzhou
How is the global economic shift diminishing cultural barriers in China
Less racism, more open to alternative views e.g. gay rights which was legalised in 1997
What is China standpoint on gay rights
No longer illegal since 1997
How has the global economic shift towards China allowed a growing liquidity of capital
TNCs can invest in more part of the world due to free markets
How is the global economic shift allowed for Improvements in the status of women
Competitive world role of a woman becomes more important as they’re now valuable asset for the economy
What is the regional of disparity in China
Eastern coastal provinces are booming but the central in Western provinces are much poorer
What is the FDI of the different provinces of China in 2014
85% to the east, 12% to central, 3% of the West
What are the income disparities in China
Top 20% of Chinese population and 50% of total income while the bottom 20% only earn 4.7% of total income
What type of services has started to disperse to world cities
Financial services as around the clock operations can be provided
What is a requirement to back office in customer care call service operations
The English language
Why is the English language helping India
50% of the global business outsourcing market is located in India
Why is India so proficient in English
Due to it previously being part of the British empire
What was recently named the worlds largest outsourcing city
Bangalore
