Industrialization and International Trade

• The British Empire was the largest empire in history, with colonies on every continent except Antarctica.
• Industrialization led to increased demand for raw materials from other countries, which Britain obtained through its colonial possessions or by establishing trading relationships with them.
• Industrialization led to increased demand for raw materials from around the world, which Britain obtained through its colonial possessions.
• Colonies provided cheap labor for industries such as cotton production and mining.
• Industrialization is the transition from an agriculture based economy to one focused on Goods Production and Services
• Industrialization started in late 1700's and reached its peak in mid 1800's with the invention of combustion engines. and improvements in steam engines. These factors made it easier and cheaper
• Main industrialization regions are North America, Europe, Russia and Ukraine
• Economic Globalistion refers to the growing independence of the world's economy.
• Globalistion is brought by cross-border trade
• Services Industries are businesses that provide intangible products instead of tangble goods.
• Examples of Services Industries include mechanical repairs, laundry, and restaurants.
• GDP is the monotery value of all goods and services produced within the country in a year
• About 20.9% of Pakistans economy comes from agriculture sector while 20.30% come from industrial sector.
• In 1947 agriculture sector of Pakistan contributed more than 50%. Today this value is only 19.3%
• About half of Pakistans population is employed in the agriculture sector.
• CPEC is focused on energy and connectivity
• Germany's 70% economy comes from services sector, 29% from manufacturing, 1% from agriculture.
• Kawait entirely relies on oil a drop in supply or demand can crash its economy
• Textile Industury of Pakistan produces natural and sythetic fibers
• Textile Sector offers employment opportunities.
• About 1.3 million farmers farm cotton in Pakistan
• 15% of arable land of Pakistan is used for cotton
• Cotton is known as White Gold
• Cotton industry of Pakistan gets its water from Indus so it lacks proper growth with lack of water
• Pests and Diseses cause major threat to cotton industury
• It is hard to grow cotton in Punjab due to climate change
• Cottage industries are small-scale home bussinesses
• The start-up cost is really low and the raw material is locally produced so its cheap
• Industrialization brought countries together.
• Economies of countries depand on each other.
• Poverty has decreased in Pakistan
• Number of middle class people have increased
• Middle class people have more educational opportunities now
• Pakistan economy increases 5% each year
• Pakistan have low exports and high imports
• International trade is the buying and selling of goods between nations. It is to sell an extra product
• Cloths are imported while rice is made locally
• Trade depend on supply and demand
• Pakistan imports refined petrolium
• Cotton is grown in all parts of Pakistan and employes 1.5 million farmers