Deindustrialization
Deindustrialization: a phenomenon associated by many with globalization and seen as a negative development. Sometimes also called “hollowing-out”. It is defined generally as the long-term decline in the share of manufacturing employment in the advanced or industrialized economies. In the view of many, the most important factor accounting for deindustrialization is the systematic tendency for productivity in manufacturing to grow faster than in services. In many countries, perceived deindustrialization is one of the important forces driving the formulation of trade policy, and governments often seek to stem its tide through imposing protection for sensitive sectors. See also delocalization, internationalization and structural adjustment.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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