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Trade and Development Report 1993

image of Trade and Development Report 1993

The focus of the report is the functioning and interaction of all the different constituent parts of the world economy and of related dimensions of national and international policy. Special attention is given to issues of concern to developing countries. The coverage includes the movements of macroeconomic aggregates in developed and developing countries and in the economies of transition, international trade and trade policies and financial and commodity markets.

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Growth and integration in the industrializing east

Together with China, the developing countries of East Asia now constitute an important and fast-expanding market. During the first half of the 1980s their combined real GDP grew at an annual rate of 7.6 per cent, compared to a world total of 3.0 per cent. With a broadly sustained growth rate (7.8 per cent) in the second half, output growth in these countries was 4.7 percentage points above the world average. Moreover, during the global recession of the early 1990s, when world output more or less stagnated, growth even accelerated slightly (to 7.9 per cent during 1990-1992). As a result, per capita income in some developing countries of the region had surpassed that of many developed countries by the late 1980s.

English

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