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This paper examines the development of the newly industrialising countries of Asia with a focus on their second-tiger group, Malaysia and Thailand, after the 1997-98 and 2008-09 crises, taking into account the Latin American, mainly Brazilian, experience. The so-called countries of Southeast Asia have now found themselves in a situation of a 'modernization trap'. That entails the risk to be faced with an 'the empty box' of economic growth without development.
Keywords: Development | Malaysia | Thailand | Brazil |
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