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3 Cards in this Set
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Key words: |
- Deindustrialisation: is the precess by which the size and capacity of secondary industry in a region is reduced or completely shutdown as a result of social and economic forces. - Core element of manufactoring: human skills, talent and innovation - footloseindustry: is a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport. - greenbelt: a policy to retain areas of largely undeveloped, wild, or agricultural land surrounding or neighboring urban areas. - peripheral region: regions which have marginal locations, offer few job opportunities, have lower standards of living, suffer from out migration. - greenfield site: is undeveloped land in a city or rural area either used for agriculture, landscape design, or left to evolve naturally. - high tech industries: is one that produces sophisticated products. There is a significant emphasis on research and development. - brownfield site: real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant or contaminant. - reindustrialisation: a policy of stimulating economic growth especially through government aid to revitalize and modernize aging industries and encourage growth of new ones. |
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Causes of deindustrialisation: |
There is a greater competition from overseas companies, making similar products for less money, enabling them to sell them for cheaper prices, which attracts a greater market. Deindustrialization is a result of the globalization of markets and has been fostered by the rapid growth of North-South trade (trade between the advanced economies and the developing world) The result of higher productivity in manufacturing than in services |
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Examples and importance of reindustrialisation (UK): |
More labour force - cheaper production of goods --> higher profit of TNCs --> creating a ready to work labour force. Aids the economy also helps developing countries like India by creating jobs and finally increases the quality of products. Benefits from tax incentives from the government to encourage industrial development. Improvements to road and rail networks and increased broadband speed. Brompton Bicycles (flexible transport solution) - helt generate real economic growth (from 2008 1,7 M pounds to 39M pounds 2015). it is manufactured in the UK. 80% is exported annually |
