Deindustrialisation
- In the 1960s,some developing nations, such as Singapore and Taiwan, became
- These countries were able to produce goodsat a cheaper price than Europe or North America, mainly due to lower labour costs.
- By the 1970s, the developed worldwas struggling to compete with the products being manufactured in the developing world.
- Entire industries collapsed, such as steel in Sheffield, which led to mass unemploymentand
- In the UK, deindustrialisationcaused unemployment to rise above three million in 1983. This was the highest rate of unemployment since the Second World War.
Rise of the Service Economy
- During the 1980s, many service industriesbegan to expand and dominate western economies. These industries have been responsible for the majority of economic growth in developed countries since deindustrialisation.
Decentralisation
- Land pricesin city centres increase, businesses, such as shops and offices, may relocate to the suburbs. This has led to the rise of out-of-town retail parks such as Meadowhall near Sheffield.
- Decentralisation has caused city centre shops and offices to close has led to buildings being abandoned, job lossesand urban