Global sustainability

The twentieth century brought about enormous economic expansion and social changes in many nations: it was a century of growth and innovation. Technological and institutional innovation in one sector spurred innovation in other sectors, and also led to creation of new sectors. Moreover, expansion of trade across nations raised the productivity and competitiveness of many of the world’s economies. Particularly in Asia, which experienced widespread economic stagnation during the 1950s, rapid economic growth occurred in the latter part of the twentieth century as trade systems spread across countries such as Japan, South Korea and China, and throughout Southeast Asia. The so-called “flying geese” pattern of development was instrumental in creating what we think of as the Asian economic miracle. Presently, this region comprises one of the largest economies in the world.

Related Subject(s): Environment and Climate Change
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