Globalisation - patterns of production, distribution and consumption

what does NIC stand for?

newly industrialised country

what are the 4 Asian Tiger economies?

1. Hong Kong

2. Singapore

3. South Korea

4. Taiwan

what is global shift?

filtering down of manufacturing from developed countries to lower wage economies

what is the impact of the transfer of technology into LICs?

enabled countries in the developing world to increase their productivity, without raising their wages to the same levels as developed countries

how has employment in manufacturing fallen in the UK?

fell by 50% from 1983 to 2013

where is the fastest growing trade route forecast to be?

between China and India

in the future what is going to drive trade patterns?

consumption (more than production location decisions)