Development

Development

1. China.

   • The worlds fastest growing economy.
   • Secondary industries.
   • Cheap labour
   • No minimum wage
   • Worlds second largest superpower.
   • In the WTO

2. India

   • Technology parks.
   • Tertiary sector investments.
   • Expected to supersuede China as the worlds leading superpower.
   • Worlds second largest English speaking population.
   • Young population.
   • In the WTO

3. Globalisation- the flow of money, ideas and goods linking people and places together.

   • Factors driving globalisation.
     • Trade
     • Culture
     • MNCs
     • Communication.
   • Advantages
     • Greater understanding/knowledge of other countries and culture.
     • Investment into developing countries economies.
     • Greater access to different products.
     • Job creation.
     • Larger market range.
     • Cheaper products
   • Disadvantages
     • Outsourcing of services to other countries.
     • Closure of small businesses.
     • Spread of pests and diseases
     • Possible unemployment.

4. Multinational companies (MNC)- an organisation that owns or controls production of goods or services in one or more countries other than their home country (country of origin).

5. Key words

   • Trade- The action of buying and selling goods
   • Technology- The application of scientific knowledge for practical purposes, especially in industry: advances in computer technology
   • Geopolitical-Relating to politics, especially international relations, as influenced by geographical factors
   • Cultural exchange- Any mutual sharing of information, usually cultural, between two or more species for the purpose of improving friendship and understanding between them.
   • Migration- The movement of people from one place to another
   • Economic investment-Is the purchase of goods that are not consumed today but are used in the future to create wealth.
   • Development- The process in which something grows or changes and becomes more advanced.
   • Globalisation- The process by which businesses or other organizations develop international influence or start operating on an international scale.