Introduction to Industrialization
Industrialization refers to the process of transforming an economy from being primarily based on agriculture and handicrafts to one dominated by manufacturing and industry. It involves the mass production of goods using advanced machinery and technologies in factories and other industrial settings.
Key Characteristics of Industrialization
- Mass production
- Factory system
- Urbanization
- Technological advancements
- Division of labor
Examples of Industrialization
One of the most famous examples of industrialization is the Industrial Revolution that took place in Britain during the 18th and 19th centuries. This period saw the development of steam engines, textile mills, and iron production, leading to a massive increase in productivity and economic growth.
Case Studies
China is another noteworthy example of a country that has undergone rapid industrialization in recent decades. By investing in infrastructure, education, and technology, China has become a global manufacturing powerhouse, producing a wide range of goods for export.
Statistics on Industrialization
According to the World Bank, industrialization has contributed significantly to global economic growth, with industrial production accounting for a significant portion of GDP in many countries. In 2019, manufacturing value added accounted for 15% of global GDP.
