The world at large is watching both China and India as
powerhouses of economic growth. The two nations have achieved
significantly high rates of economic growth ever since their
respective economies liberalized in 1978 and 1991. Singapore,
despite its limited land size and almost total dependence on
external trade, has performed remarkably well and has moved 'from
the third world to the first'. This book documents and explains the
rapid economic growth of the three key Asian economies.
The book also looks at what has happened to income inequality in
the context of superior growth performance. It makes comparative
assessments and examines the implications for the three nations.
Since free markets have nothing in them to produce a reduction in
income inequality among persons/households, one must at best hope
for equality of opportunity - notably reflected in identical
schooling for all; identical health care for all; and minimal
rather than vulgar inequality in housing. This book is particularly
useful for both China and India which may wish to study and learn
from Singapore in regard to the policies, programmes and projects
aimed at ensuring equality of opportunity.
The book is backed by considerable expertise on the part of the
researchers, with demonstrated expertise through their publications
spawning a few decades. It is invaluable to those who are concerned
with designing policies for developing countries aimed at rapid and
inclusive economic growth.
This book has been made possible by the intellectual and
financial support extended by the Global Asia Institute, National
University of Singapore.
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