The changing world economy Dr. Truong Thi Kim Chuyen
description
Transcript of The changing world economy Dr. Truong Thi Kim Chuyen
![Page 1: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/1.jpg)
![Page 2: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/2.jpg)
1. Studying Economic Geography2. Economic Organization and Spatial
Change- Evolution of Capitalism- Technology and economic Development3. Spatial Divisions of labor- Globalization and changing spatial divisions of
labor- Outsourcing and global commodity chains
![Page 3: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/3.jpg)
Less developed countries (LDCs): Countries that are not fully industrialized or do not have sophisticated financial or legal systems. These countries, also called members of the Third World, typically have low levels of per-capita income, high inflation and debt, and large trade deficits.
Newly industrializing countries (NICs): Developing country whose economy is supported to a greater or lesser degree on exports from internally generated industrial production, such as Argentina, Brazil, South Korea, Mexico, and Taiwan, rather than on agricultural products or commodities.
1. Studying Economic Geography
![Page 4: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/4.jpg)
Interrelationships surrounding economic organization and spatial change
![Page 5: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/5.jpg)
The point emphasize at the moment is that all these direct, indirect and interaction effects are important to an understanding of spatial change. They are all implicated, in other words, in accounting for both the general and the unique.
![Page 6: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/6.jpg)
2. ECONOMIC ORGANIZATION AND SPATIAL CHANGE
Mode of production: the way in which human societies organize their productive activities and thereby reproduce their socioeconomic life.
![Page 7: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/7.jpg)
5 forms of economic organization:1) Subsistence2) Slavery3) Feudalism4) Capitalism5) Socialism.
![Page 8: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/8.jpg)
Merchant capitalism (or mercantilism)
Competitive capitalismOrganized capitalismAdvanced capitalism
![Page 9: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/9.jpg)
Factors of production: land and other natural resources, labor, physical and human capital.
Different modes of production are also characterized by different forces of production (technology, machinery, means of transportation) and by different social formations (made up of specific proportions of different social classes).
![Page 10: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/10.jpg)
Machinofacture: industrial production that was based less on handicraft and direct labor power than on mechanization, automation and intensively used skilled labor.
![Page 11: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/11.jpg)
![Page 12: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/12.jpg)
Bussiness servicesTransnational corporations (TNCs)Flexible production systemsDisorganized capitalism
![Page 13: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/13.jpg)
The most important economic sectors in this informational economy are: - High-technology manufacturing- Design-intensive consumer goods,
ranging from high-fashion footwear to entertainment products. Selling in market niches around the world.
- Financial and business services.
![Page 14: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/14.jpg)
Technology and economic development
Geographical path independenceCreative destructionTechnology systemsInitial advantagesCompetitive advantagesDiminishing returnsIncreasing returns to scale
![Page 15: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/15.jpg)
Once dominant technologies emerge in a region, they become progressively more “locked in”. Small initial advantages in the use the critical new technologies and subsequent refinements in them bring much larger or increasing returns to those firms (and places) that have them.
![Page 16: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/16.jpg)
3. Spatial divisions of labor
Spatial division of labor(new) International division of laborExternal economies of scaleAgglomeration: is a major feature of
economic organization across a large number of manufacturing industries.
![Page 17: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/17.jpg)
![Page 18: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/18.jpg)
Components or specific services are ‘sources’ or obtained from multiple suppliers in different countries (Outsourcing) and assembled in several.
OffshoringNeoclassical economicsCaptive outsourcing Offshore outsourcingEconomic of scaleOffshore financial centres
![Page 19: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/19.jpg)
![Page 20: The changing world economy Dr. Truong Thi Kim Chuyen](https://reader036.fdocuments.in/reader036/viewer/2022062222/56815ded550346895dcc1842/html5/thumbnails/20.jpg)