{"id":28006,"date":"2015-06-13T07:17:21","date_gmt":"2015-06-13T05:17:21","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=28006"},"modified":"2015-06-14T17:59:54","modified_gmt":"2015-06-14T15:59:54","slug":"28006","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/28006\/","title":{"rendered":"Export-Led Growth?"},"content":{"rendered":"

Adair Turner writes:\u00a0 It is often assumed that emerging-economy living standards are bound to converge with those in developed countries. But, leaving aside some oil exporters and the city-states of Hong Kong and Singapore, only three countries \u2013 Japan, South Korea, and Taiwan \u2013 have come from far behind to achieve per capita <\/i>GDP of at least 70% of the developed-country average over the last 60 years. China hopes to do the same, but it faces a distinctive challenge: its sheer size.<\/p>\n

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Japan, South Korea, and Taiwan depended on export-led growth to catch up with the developed economies. But China \u2013 home to almost 20% of the world population and responsible for 15% of global output \u2013 is simply too large to depend solely on external markets. To reach the next stage of development, it will need to forge a different growth path \u2013 and that will require more difficult reforms than those on which attention is often focused.\u00a0 Export-Led Growth<\/strong><\/a><\/p>\n

\n\"Exports?\"<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Adair Turner writes:\u00a0 It is often assumed that emerging-economy living standards are bound to converge with those in developed countries. But, leaving aside some oil exporters and the city-states of Hong Kong and Singapore, only three countries \u2013 Japan, South … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-28006","post","type-post","status-publish","format-standard","hentry","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t