GEOG 1F90 Lecture Notes - Lecture 3: Market Saturation, Economic Globalization, Multilateralism
19 Dec 2018
School
Department
Course
Professor
Document Summary
Time/space convergence leads to increased accessibility, which results in greater spatial interaction and expanded activity spaces, which also results in greater spatial diffusion but depends on economic, cultural, political, social, and other factors. The greater global connectedness of economic activities through transnational trade, capital flows and migration. Major economic activity: trade of raw materials and finished goods between nations strong state control over cross- border trade: high tariffs on imports to protect domestic industries. Most companies relied on domestic market and were clearly tied to a home country . Wider geographical areas involved in integrated economic activity much more complex set of interconnections greater international flows of raw materials, components, finished products, information, capital ($), workers. Companies with investments and activities that span international boundaries and with subsidiary companies, factories, offices, or facilities in several countries. Networks of labour and production processes beginning with the extraction or production of raw material and ending with the delivery of a finished commodity.
