Conversations with Tyler Dani Rodrik on Premature Deindustrialization and Why the World is Second Best at Best
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Oct 1, 2015 Expert in political economy and international trade, Dani Rodrik, discusses premature deindustrialization, the challenges faced by developing countries, the importance of industrialization for economic growth, the tension between immigration and the welfare state, the absorption of Syrians into Germany, Vietnam's development, and the decline of manufacturing industry.
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Premature Deindustrialization
- Poorer nations may struggle to industrialize following the historical path of East Asian nations due to automation and trade competition with wealthier nations.
- This phenomenon, known as premature deindustrialization, may limit their ability to build a substantial middle class.
Africa's Future Growth
- Sub-Saharan African countries may find it challenging to replicate the rapid economic convergence of East and Southeast Asian nations.
- Their growth might be slower, focusing on building fundamental capabilities like human capital and institutions.
Manufacturing's Advantage
- Manufacturing is uniquely positioned for economic growth due to the ease of transferring technology across borders.
- This characteristic distinguishes it from agriculture and some services, which require more location-specific adaptations.