Items related to Pacific Basin Developing Countries: Prospects for the...
Synopsis
Between 1963 and 1988, the developing countries of the Pacific area more than tripled their share of world trade. Led by the newly industrializing countries (NICs) of Hong Kong, Singapore, Taiwan, and Korea, the Pacific area countries have achieved the highest rates of per capita income growth in the world. The less-developed countries of the region - Malaysia, Thailand, the Philippines, and Indonesia - are now poised to follow in the path of the NICs. This study examines the economic policies undertaken in each of these countries and analyzes their prospective changes in trade specialization in the coming decade. The study concludes that Pacific area developing countries will present a threat to some American industries and an opportunity for others, especially in the high-technology area. Policy recommendations are offered with regard to the prospects both for growth in the region and for harmonious trade relations with the rest of the world.
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