Economics

In the News

Can poorer countries follow China's growth model?

Tom White

15th May 2015

Most development economists stress the crucial role typically played by industrialisation as a trigger to economic growth and development. Export led growth, built on rising manufacturing has transformed China — and the world economy with it. In 1990 it produced less than 3% of global manufacturing output by value; its share now is nearly a quarter. China's rise has forged supply chains that reach deep into South-East Asia. This "Factory Asia" now makes almost half the world's goods.