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Contradiction of Capitalist industrialization in East Asia: a critique of “flying geese” theories of development.

Contradiction of Capitalist industrialization in East Asia: a critique of “flying geese” theories of development. Hart-Landsbeg, Martin. Export-led growth. Neoliberal and structural-institutionalist theory: Regional economic dynamics shaped by foreign direct investment for the regional advance

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Contradiction of Capitalist industrialization in East Asia: a critique of “flying geese” theories of development.

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  1. Contradiction of Capitalist industrialization in East Asia: a critique of “flying geese” theories of development. Hart-Landsbeg, Martin

  2. Export-led growth • Neoliberal and structural-institutionalist theory: Regional economic dynamics shaped by foreign direct investment for the regional advance • Contradiction accentuated by economic dependency. Intensification of competitiveness pressure in work and living conditions.

  3. NIEs and Asean-3 • NIE: East Asian newly industrialized economies: The republic of Korea, Taiwan, Hong-Kong, Singapore. • Asean-3: The association of Southeast Asian Nations: Indonesia, Malaysia, Thailand.

  4. “flying geese” approach • Competition and state industrial policies lead firms in advanced countries to shift to higher value-added industries. Capital mobility help countries at lower stages to develop their industries creating a win-win situation. Growth spreads in all countries specializing in area and technological level at which they are most competitive.

  5. “flying geese” critique • Focus on class-exploitative and contradictory hierarchical character of Japanese, NIE and ASEAN-3 capitalism. Workers standpoint. • FDI leads to exploitative and crisis-ridden dynamic. Unable to sustain improvement in popular living environment and work conditions. • Semi periphery standpoint (S. Korea, Taiwan).

  6. “flying geese” critique Nationally based capital is contradictory with the needs of communities. • Export-led growth “miracle” in a magnified form: reliance on intensive exploitation does not offer sustainable growth in the long run for communities.

  7. Conclusion • The hierarchical-vertical model of East Asian countries showed its weakness through market crash. • The hierarchy is not a stable way of growth, chances are that the pyramid may collapse once the poorer countries reached the level of the richer one. • Foreign investment are limited, and their limits might be the limit of East Asian growth.

  8. …Conclusion if growth stops, foreign investment will stop too and this could lead to dramatic results. • In order to be efficient, working and living condition have to stay underdeveloped. This may also create a financial crisis if workers decide to get higher incomes. • East Asia may suffer from pollution and other unwanted side effect of heavy industrialization. Which define underdevelopment.

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