Automation will end rapid economic growth for poorer countries

Automation will end rapid economic growth for poorer countries

The Guardian: World News

Automation is blocking the primary route for poor countries to grow rich. The solution is taxes, better use of resources and promoting the informal economy

For a long time – at least since the economic emergence of South Korea in the 1960s – many low-income countries have been able to achieve rapid economic growth through industrialisation.

The process usually starts with low-end manufacturing (apparel, footwear, plastics) and entails large numbers of workers moving from low productivity smallholder agriculture to high productivity export manufacturing.

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