Roaring Out of the Doldrums

TIME's Pacific Board of Economists sees a growth surge for the region

After spending 1982 in the doldrums, the economies of the nations bordering the Pacific are again becoming dynamos. In South Korea, Taiwan and Singapore, where factories are churning out exports at a pell-mell pace, economic growth has reached annual rates in the 6% to 9% range, up from 4% to 7% a year ago. Japan is gliding along at a more modest 3.4% rate, but its government has a plan to spur domestic demand. Australia is bouncing back from its worst recession in...

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