Unfavourable initial conditions

The modern development journey of the economies in the Asia-Pacific region truly began after the Second World War. That also meant a very difficult starting point as, “[t]hroughout the region, the war has left a bundle of political problems and almost every country without exception has had to pass through similar trials in their transition to self-government and independence” (Survey 1947, p. 2). “More than three years after the end of the war, countries find that in no branch of their economy have they attained prewar levels” (Survey 1948, p. xii).

Related Subject(s): Economic and Social Development