Hooked on Growth

TIME'S Pacific Board of Economists assesses the region's future

In industry after industry, from textiles to steel, the leading edge of economic growth has moved from the once dominant U.S. and Western Europe to the fast-rising nations bordering the western Pacific. Since 1960 the gross national product of many Asian countries has grown, after adjusting for inflation, at an average annual pace of nearly 10%, more than twice the rate of the Western economies. To analyze the increasingly important role this region plays in the world economy, TIME has formed a Pacific Board...

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