L9-10 - Unequal flow
- Created by: Hadley023
- Created on: 26-03-19 08:56
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- Factors influencing trade
- USA
- Economic
- Investment in domestic transport e.g. freeways, airports, vehicles, pipelines.
- High levels of productivity in agriculture, manufacturing and service industries, taking advantage of economies of scale.
- Inward and outward FDI by large MNCs.
- Technology in communications including high levels of broadband connectivity.
- Environmental
- Ability to exploit its many natural resources such as minerals, ores, water, timber.
- Wide range of climatic conditions, soils and reliefs which benefit agriculture.
- Extensive coastline with natural harbours and access to rich fishing grounds.
- Political
- Stable, democratic government which has ability to negotiate trade agreements providing easy access to global markets.
- Membership of global organisations e.g. WTO, OECD and regional bodies such as Trans-Pacific Partnership which promote trade liberalisation.
- Social
- Large population/ work force with high levels of entrepreneur-ship.
- Diverse multi-cultural migrant labour force.
- Highly skilled and educated work force.
- Economic
- Sierra Leone
- Economic
- Over-dependence on primary product exports e.g. coffee and palm oil makes trade vulnerable to Sudan shocks as global demand and prices fluctuate.
- Limited access to finance and secure banking sector.
- Inadequate infrastructure e.g. water and energy provision, sea and air transport.
- Poor communications networks with very limited access to broadband internet.
- High costs of production, low levels of technology.
- Political
- Slow recovery from the consequences of civil war. Previous political instability has affected confidence of investors and international trade.
- Inefficient government bureaucracy and prevalence of corruption.
- Inability to control crime e.g. illegal trading.
- Environmental
- Debilitating effects on the population/ work force of prevalent diseases such as malaria, typhoid, Ebola.
- Limiting effects of environmental damage to water, soil and forest reserves as a result of large-scale mining operations and agri-business.
- Social
- High levels of unemployment - 70% of under 25s unemployed.
- Gender inequality presents serious barriers to the contribution of women.
- Other human rights abuses such as the use of child labour.
- Other socio-economic inequalities in health, poverty and life expectancy.
- Inadequately educated work force with high % (91% women, 80% men) not reaching secondary education.
- Economic
- USA
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