SMEs in Asia and the Pacific
In: Globalization of Production and the Competitiveness of Small and Medium-sized Enterprises in Asia and the Pacific: Trends and Prospects
Asia and the Pacific is a region of contrasts. The Region as a whole has achieved unprecedented growth and development in recent decades. The general picture, however, hides a great diversity of economies, development experiences, and challenges. Asia is increasingly playing the role of a global growth pole, and is fast emerging as a manufacturing and information technology hub of the world economy. Yet the World Bank estimates that more than 900 million people still live in extreme poverty, now defined as less than $1.25 a day. Asia is the home of China and India-giants that are reshaping international business and the global economy through, among other things, the operations of internationally competitive enterprises such as Lenovo (China) and Infosys (India); but such giants also coexist with a large number of traditional, local micro-and small enterprises. In addition, China and India share this vast continent with Bhutan, Nepal and the Lao People's Democratic Republic, all considered least developed countries, and the region includes the small island nations of the Pacific, whose prospects for development also remain far more limited.
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