WORLD´S INDUSTRIAL AREAS
- Traditionally USA, Japan and the European Union have been considered as the most important industrial areas. To become industrialized they benefited from the advance technology and the spending power of their markets. These areas have high tech companies and the headquarters of transnational companies. However, these areas have transferred to emerging countries part of their heavy industries (steel), clothing sector and car manufacturing due to the high cost of labour.
- Emerging countries group is made up of BRICS (Brazil, Russia, India, China and South Africa) as well as Australia, New Zealand and other new industrialized countries (Korea, Thailand, Argentina, Chile, etc)
These countries have experienced a fast industrialization process due to:
- Their abundant natural resources.
- The effects of globalization as they have cheap labor force, give facilities to establish factories to produce medium quality products, create high tech industries (aeronautics, electronics and communications) to export to developed countries, offshored industries to LECDs to other countries to be more competitive (reduce labor costs).
- Least industrialized countries are located in Asia and Sub- Saharan Africa. The reasons for their low industrial development could be found in their lack of natural resources, their poor communications. New industries from emerging countries are being set up there.