GLOBLISATION - SEZ's and China

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  • SEZ's and their impact on China
    • Special economic zones are areas of a country where economic activity (Trade and Business) laws are different from the rest of the country.
    • previously to 1978, China was 'switched off' to the rest of the world, with very little activity in the global economy.
      • after the Open Door Policy, trade opened up to china so they created 4 SEZ's with tax incentives.
        • These attracted foreign business and investment. China then joined WTO in 2001.
          • This generated lots of wealth in China. by 2005, 50% of exports came from foreign investors in the SEZ's.

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