Globalization and Economic Zones

Flashcards covering key concepts related to globalization, economic zones, and their implications.

Brownfields

Post-industrial lands including sites of abandoned factories, often repurposed for new developments.

Manufacturing Tiers

Different levels of economic development where MDCs manufacture goods often designed in their countries, while LDCs focus on primary sectors.

Technopoles

Hubs for information-based industry and high-tech manufacturing, often located near universities to access specialized labor.

Outsourcing

The practice of corporations transferring portions of work to outside suppliers, particularly in cheaper labor markets.

Special Economic Zones (SEZs)

Areas designated by the government for development with different economic laws to attract foreign businesses.

Export Processing Zones (EPZs)

Physical spaces within a country designed to benefit foreign-controlled businesses, where all products are intended for export.

Free Trade Zones

Regions where trade is allowed to occur without tariffs or quotas, aiming to facilitate international trade.

NAFTA

North American Free Trade Agreement, aimed to promote free trade in North America.

Maqiladoras

Manufacturing operations in Mexico where factories import materials and equipment on a duty-free and tariff-free basis.

International Division of Labor

A system of employment distributed across various economic sectors globally, reflecting globalization impacts.