GEOG 1001 Chapter Notes - Chapter 9: Global Financial System, Columbian Exchange, Spacetime
Document Summary
Space-time convergence: collapse in the time it takes to cover distance. Cause and effect of widening economic transactions. Comparative advantage: ability of a region or country to produce goods at lower cost than other areas; works best when unit costs of transport are low. Transport developments make comparative advantage more feasible. Developments in maritime: increasing size of ships and growing use of containers to pack goods. Large box containers allow for easier loading on and off ships, more things shipped quickly, unit price of transport declines. As a result of this (1970s), many port cities couldn"t handle big container ships. Old dock sites in major metropolitan areas left space and this space became sight of postindustrial development. Horticulture: art or practice of garden cultivation and management. Trade in horticultural produce made possible because perishable foods could be transported quickly due to air travel. Ex. cost of making a phone call to london used to be very expensive, now cheap af.
