Flashcards in Culturally mixed societies Deck (9)
What is diaspora?
A group of people who share a national and/or ethnic identity who moved away from their perceived homeland.
What policies have been put in place in London to make it successful?
Foreign direct investment
What are open borders?
EU citizens are free to move around the EU as a right. For example in 2015 there were about 250,000 French people living in London.
What is deregulation?
Any foreign business can set up in the UK- provided they can arrange work visas. For example Swiss nationals work in Credit Suisse in London and American nationals work for Citigroup in Canary Wharf.
What is foreign direct investment?
UK attracted 32,000 jobs from overseas-owned companies investing in software and financial services.
The UK led the rest of Europe in attracting European research and development projects, and was first choice for US companies.
Why is FDI so important?
Investment creates jobs, which boosts growth and raises living standards. It can also drive to boost competition to make companies more efficient.
Investors bring knowledge. In manufacturing, advanced technology raises skills, which can be transferred to other companies as practices are passed on.
As workers improve their skill, productivity rises. Helps to lift pay.
What did high levels of immigration lead to fear of?
Losing British identity
Decreased access to services
Decreased access to housing
How many jobs did FDI created in 2015-2016?