3.3.5

• China/USA trade relations

  • Brink of a trade war -started during trumps first term in office
  • 10 to 15% levees china introduced on forms
  • 10% of things like crude oil
• winners of rapid economic growth

  • Business and investors
  • skilled workers
  • consumers
  • governments
• losers of rapid economic growth

  • unskilled workers
  • small busniesses
  • the environment
  • inequality
• The global shift

  • the global shift over the last 30 years has benefited china tremendously
  • liberastion of trade since the 1980s has led global TNCs to expand in search of new emerging markets, the development of SEZs enabled TNCs to establish trade relationships with chinese owned factories
  • Many TNCs outsourced their manufacturing to china eg apple inc outsourced the manafacturing of their Ipad and Iphones to foxconn
• global shift

  this term refers to the large-scale movement of economic activity from devoloped countries to emerging economies. this shift is often linked to changes in manafacturing, trade, and employment patterns
• offshoring

  this refers to the practice where a company relocates its busniess operations or production proccesses to another country to reduce costs. For example, manafcturing or customer services might be moved to a country with lower labour costs or favourable tax policeis
• outsourcing

  this is when a company contracts out certain busniess functions or proccesses to an external provider, often to enhance effciency or cut costs. Unlike offshoring, the external provider could be in the same country or abroad
• globalisation

  This decribes the increasing interconnectedness and interdependence of countries worldwide, driven by advacements in technology, trade, investment, and cultural exchange. It creates a more intergrated global economy and fosters international collaboration