ABSTRACT
When asked to identify the nations that have gone through an accelerated rate of development since the 1960s, most people point to South Korea, Singapore, Hong Kong, Taiwan, Ireland and most recently, China. Significantly, all these newly industrialized nations had at least one common element at the core of their development strategies – the aggressive pursuit and acquisition of knowledge from industrialized nations. However, the offshoring of manufacturing plants and outsourcing of jobs to less developed countries (LDCs) as part of the globalization process is at the center of many raging controversies, particularly when cast in the context of winners and losers.
