The Importance of Industrialisation in Developing Countries

Description

This article also draws upon the East Asian economies’ abilities to allocate resources to stimulate industries and technological development. Despite differences in economic performance, East Asia including China has hugely transformed in the last mere four decades from being very poor, to achieving higher economic growth and incomes, and most of all reducing unemployment and poverty. The big question for academics and social scientists is how was this success achieved in such a short period?