Transforming georgraphies

Question 1

Describe the economic geography from the seventeenth century to the second world war

Answer 1

In the the core european economies and the USA produced manufactured goods while the rest of the world (the periphery) produced resources. It was verry globalized as labor and goods from other countries effected the economies of the smallest villages

Question 2

How did WW2 effect the global economy

Answer 2

It destroyed industry in europe and a lot of new technologies were invented

Question 3

What are the two major characteristics of the global economy since the 1950’s

Answer 3

Volotile economic growth and the growing interconnectedness of the world

Question 4

Trade has grown faster than the economy since 1950

Answer 4

True

Question 5

Trade has grown faster then foreign direct investment

Answer 5

False, FDI has grown faster then trade

Question 6

There are no structural imbalances in the world economy

Answer 6

False

Question 7

Name some structural imbalances in the world economy

Answer 7

Different countries have trade surplusses and defecites in services and manufacturing goods as well as food imports and exports

Question 8

Since 2013 economic growth in emerging markets has slowed down

Answer 8

True

Question 9

Explain the localizatioin aspect of globalization

Answer 9

That while we have seen the economy to come to increaseingly rely on elements from a vast georgraphy the production of specific elements and economic activity becomes more centralized in small areas. F.ex the city of gothenburg represents a substantial role of swedens economic activity with its quality manufacturing specialization and the urbanization supporting the needs and desires of the specialists.