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between capital and labor. During the early stages of industrialization of a country, "surplus" labor drawn from the … industrialization proceeds, this labor surplus vanishes, leading to wages rising in tandem with the growth of output. As long as there …
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This paper considers the choices facing the Asian tiger economies regarding growth strategies that foster trans-Pacific rebalancing. A review of historical data spanning 2000 to 2008 reveals only a slight widening of the overall current account surplus but that there is considerable variation...
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