Authors: Salim Rashid
Publish Date: 2009/01/31
Volume: 46, Issue: 2, Pages: 108-109
Abstract
As one looks over the many momentous events that took place in the 20th century such as the two World Wars and the Cold War one lesser noted event stands out sharply for its longterm significance It is the lesson East Asia has taught the World—7 economic growth is possible Not the growth rate of 05 that mankind struggled with for centuries not the 15 that was considered an ‘Industrial revolution’ not the 3 that constitutes an ‘era of prosperity’—but 7 And this growth can extend for decades First Japan then Taiwan and South Korea then China all have shown that 7 is not a oneshot event but a real possibility If this growth rate of 7 is made a reality then a worker who begins work at 20 at Taka 10000 will end his career at 60 with an income of Taka 150000 Put yourself in his shoes It is easy to think of at least 23 problems faced by any poor economy How many of these will sink into insignificance if a people believe they can have 7 growth in their
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