Arab Today, arab today asian economies warned against bypassing manufacturing
Last Updated : GMT 21:32:37
Arab Today, arab today
Arab Today, arab today

Asian economies warned against bypassing manufacturing

Arab Today, arab today

Arab Today, arab today Asian economies warned against bypassing manufacturing

Singapore - AFP

Growth-hungry Asian economies which bypass industrialisation and leapfrog from agriculture to the services sector may fall into a \"middle income trap\", the Asian Development Bank (ADB) cautioned Wednesday. ADB chief economist Changyong Rhee said the region\'s low-income economies should focus on developing their manufacturing sectors, which would in turn generate high-quality service jobs and improve agricultural productivity. \"A lion\'s share of Asian economies are moving directly from the agricultural sector to the services sector, bypassing industrialisation,\" he told a news conference in Singapore. \"We find that historically, virtually no country becomes a high-income country without having a significant degree of industrialisation.\" Rhee said a study of 100 countries by the Manila-based lender showed that economies which achieve high-income status -- with per capita income of above US$15,000 -- have at least an 18 percent share of manufacturing in total output and employment for a sustained period. \"What we found is that without reaching this 18 percent threshold in employment and output share, you will have difficulty moving out of the middle-income trap,\" Rhee said. The ADB study identified the Philippines, India, Sri Lanka and Pakistan as among Asia\'s agriculture-driven economies that have bypassed industrialisation for the services sector. They only attract \"low-quality\" service sector jobs because of their lack of a substantial manufacturing sector, according to Rhee. Without manufacturing experience it would not be easy to attract high-quality service-sector jobs such as legal and IT work, Rhee said. The ADB study showed the agricultural sector comprised just 10.9 percent of the total GDP of 45 nations or territories from Central Asia through to the Pacific islands excluding Japan. This was despite the sector accounting for 42.8 percent of total employment in the region. Rhee said despite the slow pace of structural reforms, governments in Asia understood the importance of developing manufacturing to avoid being stuck in the middle-income trap. \"I have no doubt in their political will, but the question is implementation because of local politics and government structures,\" he said. The ADB in July trimmed its growth forecast for Asia to 6.3 percent from 6.6 percent, citing China\'s slowing growth.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian economies warned against bypassing manufacturing Arab Today, arab today asian economies warned against bypassing manufacturing

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian economies warned against bypassing manufacturing Arab Today, arab today asian economies warned against bypassing manufacturing

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Trump: End of Daesh is in sight

GMT 20:29 2017 Monday ,23 October

Trump: End of Daesh is in sight
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday