Unit 6 Week 2

economies that underwent rapid industrialization from 1960-1990, includes Hong Kong, South Korea, Taiwan, and Singapore

• Four Asian Tigers

• New Asian Tigers

• Outsourcing

• Economies of scale

Indonesia, Malaysia, Philippines, Vietnam, and Thailand

• Outsourcing

• Special Economic Zones

• Export Processing Zone

• New Asian Tigers

ability of one country to produce goods/services for comparatively cheaper prices than other countries

• Outsourcing

• Economies of Scale

• Supply Chain

• Comparative Advantage

when a company transfers work to another country to reduce labor costs

• Supply Chain

• Outsourcing

• Export Processing Zone

• Special Economic zone

free trade zone created by the government to attract investment and business

• Export Processing Zone

• Special Economic Zone

• Free Trade Zone

• Economies of Scale

EPZs usually along China's east coast to make economic activity more attractive

• Export Processing Zone

• Special Economic Zone

• Supply Chain

• Economies of Scale

Area where all trade barriers between countries are eliminated

• Export Processing Zone

• Free Trade Zone

• Economies of scale

• Comparative Advantage

the steps involving extracting raw materials, processing raw materials into finished products, and selling finished products to consumers

• Economies of scale

• Supply Chain

• Economies of Scale

• New International Division of Labor

lower production costs as a result of larger volume of production

• Supply Chain

• Outsourcing

• Economies of scale

• New International Divsion of labor

reorganization of the economy from a national to a global scale

• Supply Chain

• Economies of scale

• New International Division of Labor

• Outsourcing