Specialization
in sentence
101 examples of Specialization in a sentence
Yet making the right investment decisions is essential to growth, because they determine the pattern of
specialization.
Logistical issues, the lack of commercial links, and the
specialization
of some products meant that the goods could not be redirected in the short term.
Technology has enabled faster, more efficient “just-in-time” delivery, taking full advantage of
specialization
and knowledge-sharing on a global scale.
Over the last two decades, the UK has transformed its economy to foster unprecedented
specialization
in services.
The
specialization
of the UK economy and its external accounts toward financial services (and services in general) began when capital movements were liberalized under the internal market program of the 1990s.
It called into being a new term, “madness,” the first medical
specialization
(eventually named “psychiatry”), and special legislation regarding the “mad.”
Likewise, by removing some of the benefits of scale and
specialization
that characterize the consumer-goods industry elsewhere, e-tail enables new manufacturers to join the market, selling goods like apparel and cosmetics directly from workshops and factories to consumers.
Nations that cannot afford to field expeditionary forces capable of performing the full spectrum of 21st-century missions should make greater use of
specialization
to enhance their contribution to Europe’s collective defense.
Globalization of trade enabled countries to tap the efficiency gains that
specialization
in their sectors of comparative advantage has brought about.
Increasing trade between the US and Mexico moves both countries toward a greater degree of
specialization
and a finer division of labor in important industries like autos, where labor-intensive portions are increasingly accomplished in Mexico, and textiles, where high-tech spinning and weaving is increasingly done in the US, while Mexico carries out lower-tech cutting and sewing.
Such efficiency gains from increasing the extent of the market and promoting
specialization
should have produced rapid growth in Mexican productivity.
Intellectually, this is a great puzzle: we believe in market forces, and in the benefits of trade, specialization, and the international division of labor.
Its infrastructure, both material and intellectual, was poorer, and its economic structure was unfit for the new challenges, owing both to firm size and their
specialization
in traditional sectors, as well as low levels of education and R&D.
Price shifts alter incentives, but the less-developed economies of Asia and the Pacific must resist the impulse towards narrow commodity
specialization.
The lesson from the first round of Western globalization was that natural-resource specialization, especially in the poorest countries, can delay industrialization, economic diversification, and the creation of productive capacity.
As the Nobel laureate economist Douglass North has argued, long-term conflict resolution usually requires enduring economic relations, which are best cultivated through
specialization
and trade.
This is not his area of
specialization.
This process often fuels specialization, with regional or municipal economies focusing on their own competitive advantages, in order to maximize their gains from the decline in transaction costs.
Such
specialization
can be seen clearly in the PRD.
But, in order to protect and sustain this progress, Chinese policymakers must work to minimize the risks associated with rapid urbanization and growing
specialization.
The trick is to get experts, who are trained to go ever deeper into their specialization, to step back and view the big picture.
Specialization
in each country allows people to obtain more of what they want, which, especially at higher income levels, includes cleaner air and water.
Though member states may sometimes have to compete with one another for market share and multinational operations, their areas of
specialization
would largely be complementary.
It should also reduce the high levels of exchange-rate volatility – “a tax on international specialization,” as the economist Charles Kindleberger once put it – that we have seen in recent years, including among major currencies.
Reducing trade barriers is said to promote economic efficiency and specialization; but it is also supposed to increase exports and create jobs by increasing access to trade partners’ markets.
The Need for a Global Patent MarketNEW YORK – If developed and developing countries’ national patent systems were integrated into the trade system, the result would be greater
specialization
among inventors and, with it, faster technological invention and productivity growth.
Thus,
specialization
would lead to more productive inventions.
What is needed is WTO trade rules that create the conditions for such
specialization
by establishing a market for trade in ideas, particularly between developed and developing countries.
Finally,
specialization
and economies of scale in manufacturing, research and development, and brands generate trade between equally rich countries.
This is consistent with economic theory: interconnectedness fosters growth via productivity gains from specialization, scale, competition, and innovation.
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