The Changing UK Economy

  • Created by: Jo Peters
  • Created on: 19-03-19 10:39
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  • The Changing UK Economy
    • Causes of Economic Change
      • Deindustrialisation
        • Closing down factories as it is cheaper to manufacture in NEEs and LICs
      • Decline of traditional industries
        • Moving from manufacturing to service industries
      • Globalisation
        • Trans National Corporations
          • Unilever in Nigeria
            • Headquarters in London and Rotterdam
            • Produces food, drink and household items
            • Employs 1500 Nigerians
            • Promotes improvements in healthcare, education and water supply
      • Government Policies
        • 1945-79 State run industries e.g. National Coal Board and British Rail
        • 1979-2010 State run companies sold off to the private sector
        • 2010 onwards rebalancing the economy - improve transport, easy access to money, more investment
    • Post industrial economy
      • Development of IT
      • Service industries and finance
        • Development of call centres
      • Research and development
        • Graduate industry
      • Science and business parks
        • Cambridge Science Park
        • Cobalt business park
    • Social and economic changes in rural area
      • South Cambridgeshire - population increase
        • Ageing population - people move there to retire
        • Migrant workers on the farms make up a large % of the population
        • High tech industries located close by
        • High employment levels
      • Outer Hebrides - population decrease
        • Limited job opportunities
        • Low wages
        • Decrease due to migration to the main land
        • Few young children
    • The North South Divide
      • Why it exists
        • Industrial revolution focussed on the north and west of the UK
        • 1970s saw a decline in traditional industries e.g. coal mining, steel mills
        • Factories closed down and people lost their jobs
        • London and SE developed tertiary industries
      • Ways to reduce the divide
        • High speed rail service HS2 promised between London and the North West
        • Upgrade the M62
        • Mersey Gateway opened to allow access to deep water port
        • New Liverpool2 deep water port
        • Local Enterprise Partnerships
          • Aim is to identify business needs and get investment
        • Enterprise Zones
          • Encourage businesses to set up in new places
            • Businesses supported by the government
    • UKs links to the wider world
      • Trade - EU, USA and China
      • Culture - multi cultural society, food, beliefs, fashion, music, films and festivals
      • Transport - international airports and ports, channel tunnel
      • Electronic Communication - 99% of the country has access to electronic communication
      • The EU
        • Most important trading partner currently
        • Creates many of our laws
        • Large proportion of our work force is from EU countries
        • Financial support and investment
      • The Commonwealth
        • Countries that were our colonies
        • Trading links between them

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