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The American economic The American economic core area: USAcore area: USA
Economic GeographyEconomic GeographyI. International Business bachelor study programme (BA)I. International Business bachelor study programme (BA)Spring term 201Spring term 20144/201/20155..CUB Department of Economic Geography and Futures StudiesCUB Department of Economic Geography and Futures Studies
dr. Jeney Lászlódr. Jeney LászlóSenior lecturerSenior lecturer
[email protected]@caesar.elte.hu
Concept and divisions of Concept and divisions of AmericaAmerica
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Concept and discovery of America, its main features
Name:– Amerigo Vespucci (female version of the name: America)– New World
Discovery:– 30–40 thousand years ago: from Asia (ancestors of Red
Indians)– 10 thousand years ago: Patagonia was reached– Viking fishermen– 1492.: Columbus (did not know, it was America)– 1497.: John Cabot (North America)
Area: 42 mn km2 (28%) (WR2.) Population: 870 mn (14%) Physical Geography: joining of two continents Human Geography: division of one continent into
two parts after colonisation
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Divisions of America (1 or 2)
The The AmericasAmericas Physical Geography:Physical Geography:North and SouthNorth and South
Human Geography:Human Geography:North and LatinNorth and Latin
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Divisions of America (3 or 4)
Physical Geography:Physical Geography:North, Central, SouthNorth, Central, South
Human Geography:Human Geography:North, Middle, SouthNorth, Middle, South
Human Geography:Human Geography:N, Middle, S, CaribbeanN, Middle, S, Caribbean
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Division of America from the viewpoint of Regional Geography
North America (English America)
Latin America
Middle America
Mexico
Central America
The Caribbean
South America
Inner dividing borderlines:Inner dividing borderlines:– Human Geography: State Human Geography: State
border between USA and border between USA and Mexico (border of North and Mexico (border of North and Latin America)Latin America)
– Physical Geography: Isthmus Physical Geography: Isthmus of Tehuantepec (216 km) of Tehuantepec (216 km) (border of North and Central (border of North and Central America)America)
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Evolution of the North Evolution of the North American economic pole of American economic pole of
the Worldthe World
88
Birth of the USA
For a short time: four centuries First British settlement (1607): Jamestown
(Virginia) Puritan spirit of the real founders of USA
– 1620: Mayflower (New England – Massachusetts)– But: lots of religious persecuted persons arrived too– Tenacious toughness, adventurous sprit, hard work– Tensions of native population– Not real melting pot (opposite to Sp., Fr. colonies)
Initially problems: sailing, frost, hunger, epidemic XVIII. century: prosperous 13 British colony:
integrated zone– Swedish, Dutch colonies disappeared
99
Commercial Farming Base
Combination of:– Natural resources (climate, land, soils, water)– Economic factors
led to specialization– Midwest: grain-livestock area– Mississippi Delta: cotton area– Great Plains: feedlots– California (irrigated lands): grape (most
productive vineyards) orange– Drier, higher parts of the West: low productivity
grazing land
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Manufacturing becomes central
Early 1800s– East Coast: Southern New England, New Jersey, Eastern
Pennsylvania– Manufacturing developed from local crafts (pottery,
smithing)– Under family ownership– Based mainly on water mill power– Produced: metal, leather goods, textiles
Required new transportation facilities– Financed by federal investments– By 1860: railroad reached Chicago from East Coast construction basis of iron industry expansion– Coal, iron steel production (Pittsburgh)– Inland emerged from the East Coast (closely to the raw
materials + as US settled newer markets)
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Manufacturing from 1860 to the World War II
Value from manufactured goods > commercial farm products– Agriculture become industrialized
Till 1950s: manufacturing: primary engine fuelling the expansion of the US economy– Consumer goods, transportation vehicles (cars,
trucks, airplanes) Traditional developed Manufacturing Belt:
New York, Chicago, Detroit
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Key economic industries after World War II
Wider geographic diffusion of manufacturing industries: West Coast, Southern US too– Distributing electricity to rural areas– Interstate highways– Airline routes
Later: goal to satisfy more market needs (Latin America and Asia)
Products became more technologically sophisticated– High-tech goods: Silicon Valley of California, Boston,
Washington US companies become multinational Service industries: financial, computer services, publishing Tourism: 54 mn visitors to USA, 64 mn American abroad World’s most developed country economic prosperity,
political influence Largest GNI (ppp): WR1 (however: fluctuating growth)
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Regional policies
After Civil War: poverty in South Southern Appalachia: hill farms on small plots of
eroded lands extremely poor World crisis 1933: Tennessee Valley Authority (TVA)
– To stimulate economic growth in lagging regions– However dominant US policies: against government-funded
regional aid– Economic and population growth, but environmental
degradation 1960s: Appalachian region: poorest
– 1965: Appalachian Regional Commission (ARC): financial aid packages
– 1980s: Ronald Reagan reduced ARC’s funding and effectiveness
Rural problems Metropolises: increasing dominance in economic and
social life
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Canada
Natural resources: diamond, irons, timber and other minerals
Follows US, but with a time lag Industrialization from the World War II
– Import substitution industries: aluminium, vehicles, consumer goods production
– Hamilton: steelmaking center– Montréal, Toronto, Vancouver: financial
services, commercial enterprises GNI ≈ EU members, but not equals with US NAFTA: increased US investment
The North American The North American economic integration: economic integration:
NAFTANAFTA
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Canada and USA: significant and multifaceted economic systems USA
– $47,200 per capita GDP (ppp) (2011) largest economy in North America, and in the world
– most technologically developed economy in North America
– GDP: services 76.7%, industry 22.2% and agriculture 1.2%
Canada– Economic trends ≈ to that of USA– Significant growth in services, mining and manufacturing
sectors– $39,400 per capita GDP– GDP: services 78%, industry 20% and agriculture 2%
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NAFTA
The North American economy could be defined in the economic areas of the North American Free Trade Agreement (NAFTA): Canada, USA and Mexico
One of the four largest trade blocs in the world Its implementation: 1994
– Allowed for strong economic cooperation– Hopes of eliminating barriers of trade and foreign investment
between the three member countries Earlier: Canada and USA already conducted the
largest bilateral trade relationship in the world before– Canada–USA trade relations already allowed trade without
taxes and tariffs– NAFTA allowed Mexico to experience a similar duty free trade
1818
NAFTA
Trade volume steadily increased annually– Trade between the three NAFTA states reached an all-
time historical increase of 24.3% or USD $791 billion The NAFTA trade bloc GDP (PPP): $17.617 USD
trillions (WR1) – This is in part attributed to the fact: GDP of USA $14.7
trillion (WR1) The countries of NAFTA: also some of each other's
largest trade partners– USA: largest trade partner of Canada and Mexico– Canada and Mexico: each other's third largest trade
partners
1919
North American economy
USA also take part in inter-continental trade blocs– Trade agreements under the Transatlantic Free
Trade Area with EU– US-Middle East Free Trade Area: with numerous
Middle Eastern nations and itself– Trans-Pacific Strategic Economic Partnership:
with Southeast Asian nations, Australia, and New Zealand
2020
Advantages and disadvantages of NAFTA
Supporters of NAFTA Critics of NAFTAnew markets for the 3 countries new markets primarily for Mex and
CanMexican cheaper goods force down the prices of USA and Can goods consumers win
Low labour costs USA and Can companies move to Mex higher unemployment
Stronger global economic weight in competition with the EU and others
More significant economic disparity between USA, Can and Mex
Democracy and political stability in Mex greater stability in N America
Higher economic disparity within Mex political instability in Mex
Jobs in (mainly North) Mex higher living standards, employment rates
USA culture overpowers in Can and Mex. SW USA: increased use of Spanish language tensions
Environmental agreements healthier environment in Mex
USA factories relocate to Mex polluted areas in Mex
Equal treatment of corporations Too powerful corporations