GEG 1302 Lecture Notes - Lecture 11: Deindustrialization, Urban Age, Gateway Cities
Document Summary
Singapore vs. vietnam (extremely low wage rate) compete to attract international investment. Governments make investments in communications technologies, services, investment and transportation networks, airports to attract transnational investment dollars to not only the country, but to the cities within it. Results in intense competition between places place is seen as something to be marketed. Leads to uneven development (singapore, south africa) Economic activities that take place beyond official records. Not regulated in terms of production or compensation for participation in the economy. If you can"t find work in the formal economy, many people will be pushed towards engaging in the informal economy. Residential areas becoming production areas (increases problems around pollution, noise, unregulated activities) Often provides a subsidy to businesses in the formal economy. Informal economy essentially subsidizes formal economy under international competition results in employees working at a depressed wage rate. Most prevalent in cities suffering from overurbanization.
