China’s development model faces an external constraint that could cause an economic hard landing. China has become a global manufacturing powerhouse, and its size now renders its export-led growth strategy unsustainable. China relies on the U.S. market, but the scale of its exports is...

The paper provides an overview of the concept of wage-led growth, both as an analytical concept and as an economic policy strategy. At the core of our analysis is the distinction between wage-led and profit-led demand regimes. The Kaleckian tradition in macroeconomics asserts that a higher wage...

Vietnam has been following China’s path closely and very successfully for the last two decades, since the adoption of ‘Doi moi’ in 1986. Over those last two decades, economic growth rates in both countries have been the highest worldwide (with GDP growing by 8 per cent and 10 per cent per...

The former Soviet republic of Georgia is reputedly the cradle of wine and has enjoyed at least 8000 vintages. It has also been a major supplier of wine to Russia for at least 200 years, but to few other countries. In 2006, however, Russia imposed a ban on beverage imports from Georgia. Since...

Developing countries often face severe animal health problems, with a number of endemic diseases, and lack resources to put in place the animal health programs of more developed nations. The social costs including lost trade opportunities as a result of animal diseases often exceed the private...

Between the 1870s and World War II, falls in world shipping costs and Western industrialisation gave rise to export-led Southeast Asian growth and specialization in a narrow range of primary commodity exports.  A linked development was the emergence of a few dominant Southeast Asian urban...