MACMILLAN Industrialization and Challenges in Asia

This book provides a much-needed review of Asia’s economic growth and its challenges in the context of post-war industrialization. In the early 1990s, the World Bank (1993) recognized eight high-performing Asian economies (HPAEs) (Japan, the Asian tigers, Indonesia, Malaysia and Thailand) and named them the ‘Asian economic miracle’. In the recent past, the term ‘emerging economies’ has been widely used to refer to the high-growth economies, and includes China, India, Mongolia and Vietnam. In this rush towards high growth, the adverse effects of industrialization are widespread, but were unnoticed. The major challenge is to bring together a comprehensive picture of Asia’s growth, taking into account the adverse consequences. Finally, this book examines two challenges for the future of Asia's development: the global financial crisis and urban poverty and inequality. Review “This is an important contribution to the literature on Asian economic development by an economist who has been researching this field for several years. It provides an analysis of the industrialization of the Asian tigers and the growing role of China. At a time when the rapid growth of China and India is changing the landscape of the world economy, this book will be essential reading for students of economic development.” (Professor P.N. (Raja) Junankar, Honorary Professor, Industrial Relations Research Centre, UNSW Australia, Emeritus Professor, Western Sydney University, Research Fellow, IZA - Institute for the Study of Labor, Bonn, Germany) “This well-conceived book is an essential reading for anyone who is interested in Asia’s industrialization and related challenges. It covers not only earlier achievers of "Asian Tigers", but also global giants of China and India, as well as potential star performers of ASEAN and SAARC.” (Dr Guanghua Wan, Director of Research, Asian Development Bank Institute, Tokyo) “This impressive work expertly answers the key questions surrounding Asia’s industrialization and challenges.  It will be of considerable interest to students of Asian economy and to a broader audience of economic development and Asian studies.” (John West, Executive Director, Asian Century Institute) About the Author Kankesu Jayanthakumaran is Senior Lecturer in Economics at the University of Wollongong. His research addresses knowledge and statistical gaps in relation to trade integration, industrial growth, poverty reduction, and sustainable environment.