Emerging economics of Asia

  1. According to Stiglitz (on blackboard), the policies of the IMF after the financial crisis in East Asia, made the crisis worse, deepening and prolonging the economic damage to the effected countries. What were some of the IMFs policies? How did they worsen the economic damage?
  2. In the last 15 years, Bangladesh has seen rapid industrial development and export growth, mostly in the garment industry. According to the readings and class notes, (a) working conditions, industrial accidents and wages are among the worst in the Asia. Discuss. (b) Nevertheless, social conditions mostly exceed those in the rest of South Asia and have improved dramatically over the years, in large part because of NGOs. Discuss.
  3. For a poor country at a very early stage of industrial development, indicators of social welfare rival or exceed those of China, while working conditions are similar to those in far more advanced countries. Discuss and provide some data and examples.