1945

Industrialization has been fundamental to economic development. Only in circumstances such as extraordinary abundance of land or resources have countries succeeded in developing without industrializing. Not only is industrialization the normal route to development, but as a result of the globalization of industry, the pace of development can be explosive. Twenty years ago, Qiaotou in China was a village. Today, it produces two thirds of the world’s buttons.

Related Subject(s): Economic and Social Development
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