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Economic and Social Survey of Asia and the Far East 1967

image of Economic and Social Survey of Asia and the Far East 1967

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.

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Production: Industry

Manufacturing in most countries of the ECAFE region is relatively little developed. Few of the countries are bountifully endowed with industrial resources and most are too small or too poor—or both—to provide adequate markets for much domestic industry. Industrial skills are characteristically few; population pressure and inefficient agriculture limit the investible surplus and impair the capacity to import for industry. World markets for manufactures are hard to enter and, despite low wages, new industries frequently find it difficult to produce at costs which are internationally competitive. These and other obstacles notwithstanding, considerable industrial development has taken place during the last decade or more. Manufacturing in several of the region’s less developed countries has begun to contribute significantly to total output. In some countries it now engenders further development by enlarging the opportunity for further industrial production of intermediate or final goods.

English

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