ABSTRACT
Throughout history, industrialization has shapened the economy of countries and regions most profoundly. It accounts in large part for the considerable divides between the rich and the poor countries and as well, for the significant differentials in wealth within countries. The mastery of industrialization tends to facilitate catch-up in technology and the growth convergence, South East Asian countries are evident examples (Amsden 1989; Amsden and Chu 2003). Clearly, the economic progress associated with emerging economies led by China is in large measure due to the maximization of relatively cheaper but skilled labour inputs in manufacturing processes.
