GEOG 2120 Lecture Notes - Lecture 5: Sun Belt, List Of Industrial Regions, Deindustrialization
Document Summary
Canada - mainly primary sector growth, not highly industrialized until recently. A staples economy - one based on natural resources that are basically unprocessed before they are exported to other areas, where they are manufactured into end products. In comparison, the us is mainly based on trade and manufacturing. Us and canada produce of the world"s gdp. Global restructuring since then 1970s led to regional restructuring. The rise of the service economy in the last 25 years - the most important regional transformation. Decline of the rust-belt - rise of the sun belt. New economy emerged in the past 15-20 years, changing technologies. Once the profitability differentials between the two places became significant, disinvestment occurred in the rust belt. Deindustrialization - involves a relative decline in industrial employment in core regions as firms scale back their activities in response to lower levels of profitability. Creative destruction - the capital available from disinvestment in the rustbelt became available for new ventures.
