In his previous Schumpeter Prize-winning work, Lee analysed the 'middle-income trap', in which a developing country grows strongly only to plateau at a certain point. Yet certain developing countries, most significantly China, have managed to escape this trap. Building on the conception of the...

The international marketing is changing the ways and ethics of doing business with more emphasis on connectivity and responding to the customers to their special needs through the websites and other sources of communication. The world is becoming more universal with the impacts of media making...