Question

“The South needs the North, and increasingly the North needs the South” (United Nations Development Programme, cited in Todaro and Smith, 2015, p.640). Over the past several decades, the economies of the world have become increasingly linked, through expanded international trade in services as well in as primary and manufactured goods.

(a) In what ways is the emergence of China as the “workshop of the world” an opportunity for other developing countries, and what ways is it a threat?

(b) What factors do you think are most important in implementing a successful outward-looking industrialization strategy? Give some country- specific examples to support your answer.

Answer 1

(a).

The rise of China as the "workshop of the world" is an open door for other creating nations in the following ways-

1. With China turning into the "workshop of the world" it requires heaps of crude material (essential merchandise) and semi-

completed products to transform them into completed merchandise. With most creating nations being an exporter of essential items and semi-completed products this gives them a chance to expand their fare to China and along these lines increase through fast progress of China.

2. Created markets have extremely exclusive requirements concerning imports and these elevated expectations are expensive also, hard to maintain on persistent premise and are commonly excessively expensive for the low-pay nation's exporters, On the other hand, creating nations, for example, China doesn't have such stringent measures and therefore empower the exporters from other created nations to tap these business sectors .

3. With compensation in many fares arranged divisions in China rising, other creating nations can broaden in these areas in the event that they can exhibit the expense advantaged along these lines profit by expanded fares.

(b).

Industrialization is a transformation away from an agricultural- or resource-based economy, toward an economy based on mass manufacturing. Industrialization is usually associated with increases in total income and living standards in a society.

There are many factors for succesful industrialisation strategy.some are

LAND- land refers not just to surface (acreage) for farms, factories, and transport. What is on and under the land, especially minerals, is important

LABOR-Labor is the human element of industrialization

CAPITAL-Capital is the money, productive machinery, and the factories themselves.

CONNECTIONS-Connections are key elements in industrial development. Transportation links raw materials, producers, and consumers. Communication includes the postal system and telegraphs that carry messages among suppliers of raw materials, producers, and consumers.

TECHNOLOGY-technology is the application of science to industrial or commercial uses.

INDUSTRIALISATION IN UNITED STATES

The value of goods produced by American industry increased almost tenfold between 1870 and 1916. Many interrelated developments contributed to this growth.

• Improved production methods.

The use of machines in manufacturing spread throughout American industry after the Civil War. With machines, workers could produce goods many times faster than they could by hand. The new large manufacturing firms hired hundreds, or
even thousands, of workers. Each worker was assigned a specific job in the production process. This system of organizing laborers, called the division of labor, also sped up production.

• Development of new products.

Inventors created, and business leaders produced and sold, a variety of new products. The products included the typewriter (1867), barbed wire (1874), the telephone (1876), the phonograph (early form of record player) (1877), the
electric light (1879), and the petrol-engine car (1885).

• Natural resources.

America's rich and varied natural resources played a key role in the rise of big business. The nation's abundant water supply helped power the industrial machines. Forests provided timber for construction and wooden products. Miners took large quantities of coal and iron ore from the ground.

• A growing population.

More than 25 million immigrants entered the United States between 1870 and 1916. Immigration plus natural growth caused the U.S. population to more than double during the same period, rising from about 40 million to about 100 million.

• Distribution and communication.

In the late 1800s, the American railway system became a nationwide transportation network. The total distance of all railway lines in operation in The United States soared from about 14,500 kilometers in 1850 to almost 320,000 kilometers n 1900. A high point in railway development came in 1869, when workers laid tracks that joined the Central Pacific and Union Pacific railways near Ogden, Utah. This event marked the completion of the world's first transcontinental railway system. The system linked the united States by rail from coast to coast.