GEOG 101 Lecture Notes - Lecture 25: Autarky, Periphery Countries, North American Free Trade Agreement
Document Summary
Economy is based on four main sectors: primary, secondary, tertiary, quaternary activities. Variations in the four main sectors reflect geographic division of abor: primary sectors typically low per capita gdp (except oil rich countries, typically dominate workforce (i. e. us) Newly industrializing countries (nics) former periphery countries that have acquired a significant industrial sector: typically through foreign direct investment. Transnational corporations (tncs) companies with investments/activates that go across international borders: often have several components across several countries or locations. Trading blocs groups of countries with formalized systems of trade agreements i. e. nafta north american free trade agreement. Autarky countries that do not contribute significantly to geographic trade and import. Neoliberal polcies unregulated economic policies that prioritize profitability of business (inclusing over social goals or regulatory standards) Lowers ability of government to shape economic development, makes local and. Recent argument need to enforce stricter policies in terms of making regional governments struggle to find or create economic opportunities.
