Abstract
The new millennium is marked by two events, the attack on the United States on September 11, 2001, and the recession of 2001. Since this volume discusses the catching up process in a world with the U.S. as the technological leader, both events deserve some discussion.
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Source: The Economist, January 12-18, 2002. One might note that such figures on percentage change from a year earlier may vary quite a bit from quarter to quarter. They portray general patterns but depend on the particular dates of the onset of a recession or recovery from it. One recent estimate of Singaporean growth for 2001 is-2%. In addition, the positive figures for Indonesia reflect the late recovery from the previous deep crisis. Due to the special nature of the statistical data, different economists also interpret the high growth of the PRC differently.
See Low and Ngiam, (1999).
When data from Taiwan is unavailable for international political reasons, work by Ranis (1999) supplies a reliable estimate, which is in line with the other NIEs.
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Wan, H.Y. (2004). Conclusions. In: Economic Development in a Globalized Environment. Springer, Boston, MA. https://doi.org/10.1007/978-1-4419-8941-3_12
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DOI: https://doi.org/10.1007/978-1-4419-8941-3_12
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