Abstract
Abstract The personal computer revolution created opportunities for new countries to become integrated into the production network of the PC industry. The most notable entrants were the newly industrializing economies (NIEs) of Asia: Korea, Taiwan, Singapore, and Hong Kong. The NIEs’ economies had grown at exceptional rates on the strength of labor-intensive manufacturing and rising exports, but by the late 1970s, labor costs were going up and new competition was developing from lower wage countries in the region. The governments of Korea, Taiwan, and Singapore were convinced that their economies needed to “graduate” to more capital- and technology-intensive industries. In the electronics industry, the governments promoted production of more advanced consumer products, such as VCRs and microwave ovens, and sophisticated components such as semiconductors.
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