the movement of the economic centre of gravity being moved over time from one area to another. Currently from between America and Europe to Asia.
Began in the 1970s and 80s
Movement of manufacturing from Europe and USA to many Asian Countries
2013- two way trade between Americas and Asia nearly double that between Europe and Americas
Millions have migrated from rural areas to higher- productivity secondary industry employment in urban areas in Asia
Number of people living on less that $1.25 a day- decline since 1990
United Nations’ Millennium Development Goals- halve number of people living on less than $1.25 a day between 1990- 2015
1990- 1.9 billion lived on less than the amount- Majority Asian
2015- number was 836 mn
Brought infrastructure investment and education
2500 Universities in China, India, South Korea- award millions of degrees
Rapid growth results in the loss of productive farmland and unplanned settlements
Sweatshops simply move to other countries once a country has begun to develop and implement rules to improve working conditions, therefore exploiting another developing, poor country who are desperate for FDI and job opportunities
Increases resource pressure
Ivory Coast:
Tens of thousands of Ivorians suffered ill health
Toxic waste alleged to produce Hydrogen sulphide
Dumped by ship in the employ of Trafigura- European TNC
£28 million cash settlement followed
Manufacturing
USA and EU:
dominated global trade for decades
Far bigger markets than other economic powers
Brazil
2002- US market brought 26% of Brazil’s exports and EU 25%
1990- Chinese market in Brazil’s merchandise export- 2%
