Knowledge clip: Flying geese model of economic development

Aashrit Parvangada on Instagram: "How Japan created Asian prosperity 🌏🗾💹 This is called Akamatsu's third flying geese paradigm (FGP), a model for the international division of labor in East Asia based on dynamic comparative advantage. The paradigm postulated that Asian nations will catch up with the West as a part of a regional hierarchy where the production of commoditized goods would continuously move from the more advanced countries to the less advanced ones. The underdeveloped nations in