ATS1309 Study Guide - Final Guide: Barter, Informal Sector, Microelectronics
6 Jun 2018
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5. A special role for Asia
Production evolving over time
• Clothing: China, Vietnam, Bangladesh
• Steel, chemicals, engineering
• Motor vehicles
• Bio tech microelectronics: Japan, Korea Singapore, Taiwan
6. Uneven development: Asia
• More concentrated in areas where it is more developed
7. Factory conditions
• Physical infrastructure of buildings: Collapse of the Bangladesh clothing factory
• Abandoned buildings in industrial countries
Summary
• Production influences geography
o The type of goods, the organisation and location of its products
o Education level, wages, number of firms, rate of growth, value of product
o It is felt in the level of economic development
• The planning and management of global production systems will shape the future
Understanding the informal economy
• Estimated at 35% of the world’s GDP
• Produces a lot value
• The amount of activity is outside of Government regulation/not taxed
• Worth around $10trillion globally –around half the world’s workers are employed in
the informal economy
• In the global South, around 80% of people are employed or engaged in the informal
economy –it is the main driver of economic activity
• In the global North the informal economy is growing – in the US now around 9-10%
of GDP and growing at 6% per year (faster than the formal economy)
• Women tend to outnumber men in formal employment
• Examples: Street vendors, waste pickers, market stalls, sweatshops
Defining the informal economy
