Southern Engines of Global Growth: Very Long Cycles or Short Spurts?
Southern Engines of Global Growth: Very Long Cycles or Short Spurts?
This chapter views the four economies of the South in a long‐run historical perspective from 1500 to 2000. It contrasts the history and the initial endowments of the two Northern hemisphere economies China and India, which are land scarce and labour abundant, with the two Southern hemisphere economies Brazil and South Africa, which are land abundant and labour scarce. It argues for different strategies for future growth and discusses impediments that might affect the paths of these four economies in the near future.
Keywords: Brazil, China, development, history, India, South Africa
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