By Mao Tse-Tung, Moss Roberts
Examining notes at the Soviet textual content Political economy.--Concerning financial difficulties of socialism within the Soviet Union.--Critique of Stalin's fiscal difficulties of socialism within the Soviet Union
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Singapore in particular has the highest per capita income amongst ASEAN. The World Bank has classified Indonesia, the Philippines and Thailand as lower-middle income; Malaysia as upper-middle income; Brunei as high income, and Singapore as an advanced developing country since 1996. The Philippines, due to political crisis and power shortage in the early 1990s, did not perform well, as expected. However, since 1993 the Philippine economy showed some signs of economic recovery. It posted a growth rate of 4–6 percent before the 1997 crisis, much higher than the growth rates it experienced in the 1980s.
Here the Gini ratio, an index of income inequality representing the Lorenz curve, is used mainly due to easy inter-country comparison and data availability. 8 describes their relative performances in this area for selected years. 2 Declining levels of income inequality Based on the available data, all ASEAN countries experienced declining levels of income inequality, except for Thailand. 34 – – – – -: not available. Sources: Krongkaew (1994); Oshima (1993), pp. 201–202. ASEAN economic development: an overview 37 strong pace and pattern of economic growth; reduced burden of adjustment during the adjustment period 1983–88 on the agricultural sector resulting from the exchange rate depreciation, agricultural pricing policies and some diversification from rice to profitable non-rice crops; and a surge in the non-oil exports and the maintenance of public consumption particularly with respect to human resource development.
A number of push factors were responsible for this significant inflow including the appreciation of the yen since the 1985 Plaza Accord, rising costs of labour in Japan and other newly industrializing countries, increasing lack of security in Taiwan and the 1997 reversion of Hong Kong to China (Lee, 1990). 16 (a) Stable macroeconomic environment Economic and political stability rank high in the list of factors influencing portfolio decisions of capitalexporting countries. 6, from 1987 onward (when FDI inflows accelerated) all the ASEAN5 countries had achieved lower inflation, reduced their debt–service ratios and accumulated more international reserves, but individually had recorded differently on these indicators.