3. Product flows

• What are product flows?

  • movement of produced goods from area of production to area of consumption
  • increased glob caused product flows to become inter so produced produced by a country and transported to another
  • 2015 > value of world trade of food and manufactures commodities was $25 trillion
• Produce flows 2:

  • in past manufacturing was in HICs > access to resources (factories) and ability to buy materials
  • now shift > inter trade > major product flows between HICs and LICs due to tech advances and improved comms/ transportation
  • in LICs > low labour costs, companies relocate internationally (offshoring), which has reduced manu in HICs > UK has seen a decrease by 3.4 million jobs since 1985
  • product flows changing > emerging economies and increasing consumerist society