wad's da diff btw reindustralisation n deindustralisation..??
The most matured economy like UK has gone through three key stages in terms of industrialisation
1. The industrial revolution in 1800s that was brought about by the invention of steam engine. It also marked the beginning of rapid urbanisation as industries are a urban based form of production.
2. Deindustrialisation started in the 1970s-80s when the economy slowed down after the post WWII revival. Industrial especially heavy industry declined and sometime the entire industrial region was affected. The shift in employment and emphasis from manufacturing to services created the post-industrial economy. In the 1990s, everybody thought that is it, manufacturing is over!
3. By 2000, mature economies like UK are receiving FDI again and many older industrial estates are given a new life with modern high tech manufacturing. New technological corridors were also created as production moved from labour based to technology based. In addition those MNCs who set up factories in ELDCs returned for various reasons.
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am i right to say that the 3rd stage is reindustrialization......
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