One of the most striking trends, since at least the 1960's, has been for employment in services to grow far more rapidly than employment in manufacturing. It is this trend that has led to the view that developed economies have become de-industrialized and that they are now effectively service economies.
Peter DickenIn the United Kingdom, for example, the sheer overwhelming dominance of London makes it extremely for provincial cities to develop more than a very restricted financial function. London, in that sense, is akin to the notorious upas tree, a fabulous Javanese tree so poisonous that it destroys all life for many miles around itself.
Peter DickenIt remains to be seen, for example whether China can continue to develop as a market economy while still retaining an authoritarian communist political system.
Peter DickenThe primary driver of final consumer demand is, of course, the level of disposable income.
Peter Dicken