GEOG 1F90 Lecture Notes - Lecture 3: World Economy, Market Saturation, Economic Globalization
29 Sep 2016
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Document Summary
First western pop band permitted to play in china (april 1985: people"s gymnasium in beijing, 15,000 people, press and tv crews from around the world. (partial) opening of china"s borders after decades was a very significant event in the economic globalization process. Major economic activity: trade of raw materials & finished goods between nations: silver, iron, wood, copper. Most companies: relied on domestic market, clearly tied to a home country , it was very expensive to export internationally. Demands were not being met, baby boomers had less children = less toys: changing labour relations. Workers demanded better labour conditions: stronger environmental regulations. Sub-contracting (agreements with other companies for production: international production. Cost of transportation began to decline: market expansion. Expanded to new countries that had the proper socioeconomic status: beginning of multi-national corporations. Goods & services production in multiple countries. Factories, mines, plantations, offices: but management and administration in home country. Marketing, r & d: increasing multilateralism .
