Economic growth leads, according to Kuznets, at first to glaring income disparities and only when a certain state of development has been reached to a levelling of incomes. Translating this thesis to the developing countries, one would have to assume that there exists a constant conflict of...

The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.