The newly industrialising countries (NICs) in the East Asian region are beginning to be faced with serious problems: problems involved not only in moving from an easy phase of import substitution to a more difficult second stage, but also in progressing from the first to the second more...

Proponents of the theory of unequal exchange claim that the international division of labour is based on the exploitation of the developing countries by the industrialised countries. But the international division of labour allows the developing countries to import goods which they either could...