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The Asian side of the world - II

Jean-François Sabouret

Part Three. Constructing theories

Asia has become the laboratory of various forms of capitalism and a challenge for the social sciences

Robert Boyer

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October 2013

Asia is not Latin America: contrasting path of development

Conventional economic theories had long suggested that the club of industrialised countries had closed after the Second World War because of the advantages that the most advanced countries had enjoyed in terms of innovation, increasing returns to scale, control of networks and rules of the international system. The recurrent difficulties and the inability of Latin American countries to build a strong industrial base and promote a steady growth were arguments in favour of this hypothesis. As a consequence, a complementarity/opposition was established between the centre and periphery: developed countries exchanged industrial goods in exchange for the supply of natural resources by the periphery.

Japan’s breakthrough in the 1960s received much attention despite the country being industrialised for a long time; it was surprising how quickly Japanese companies could catch up with modernity and how the economy had experi...

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