ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -This has led to a trend of transference, or what is also known as the “global industrial shift", in which production processes are relocated from developed countries (such as the US, European countries, and Japan) to developing countries in Asia (such as China, Vietnam, and India), Mexico and Central America.

Detailed explanation-2: -Spatial divisions of labor involve the organization of certain production tasks in particular regions and geographical areas and/or the concentration of certain economic sectors in particular regions. Spatial divisions of labor provide a basis for explaining the uneven development of the space economy of capitalism.

Detailed explanation-3: -Since globalization is the process of expansion of market, with the increasing expansion of market globalization leads to greater division of labor along with trade. Countries around the world affect the division of labor as there can be exchange of labor with higher skills and with workers with low wage demand.

Detailed explanation-4: -(NIDL) A global division of labour associated with the growth of transnational corporations and the deindustrialization of the advanced economies. The most common pattern is for research and development in more economically developed countries, and cheap, less skilled labour in less economically developed countries.