The analysis in this and the previous chapter's suggests that regarding the process of accumulation, industrialization, trade and structural change, it is possible to distinguish between five broad categories of economies: 1. The first group includes first-tier NIEs, notably the Republic of Korea and Taiwan Province of China, which have already achieved a considerable degree of industrial maturity through a rapid accumulation of capital, and growth in industrial employment, productivity and output, as well as in manufactured exports. In both economies the share of industrial output is well above the levels of advanced industrial countries, but the pace of expansion of production capacity and output in the industrial sector has slowed down compared to previous decades. 2. The second group consists of countries that are progressing rapidly in industrialization. They are increasing the share of manufacturing in employment, output and exports and upgrading from resource-based and labour-intensive products to medium- and high-tech products in both output and trade. These include the dynamic second-tier NIEs, notably Malaysia and Thailand. China and, to a lesser extent, India should also be considered in this group of rapid industrializers, even though they are at earlier stages of industrialization compared to the second-tier NIEs. 3. The third group comprises countries that have rapidly integrated into international production networks by focusing on simple assembly operations in labour-intensive manufac-tures. These countries have seen a sharp rise in industrial employment and manufactured exports, but their performance in terms of investment, manufacturing value added and productivity growth, as well as overall economic growth, has been poor. Two countries that stand out in this group are Mexico and the Philippines.
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