Industrial development and employment: The experience of Asia and Latin American development strategy

In Latin America it is generally believed that the modern and traditional sectors of the economy are divergent and even incompatible, but in the light of the experience of Japan and China this assertion can be refuted. In the post-war period, Japan chose a style of development made up of both these sectors, which has promoted the parallel advance of industries of different size and capital intensity. Since 1958, China has followed the policy of “walking on two legs”, which pursues the simultaneous and combined development of agriculture and manufacturing and, within the latter, of different sectors, levels of technology, and localities.