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A factory in Bangladesh, which built its success on turning farmers into textile workers. Atul Loke for The New York Times |
A new economic route for poor nations to rise
For more than half a century, developing countries successfully lifted millions out of poverty by moving subsistence farmers into manufacturing jobs, and then selling what they make to the rest of the world.
But technology is advancing, supply chains are shifting and political tensions are reshaping trade patterns. The changes are diminishing this once-reliable cycle, and doubts are growing about whether industrialization can still deliver the miracle growth it once did.
Service jobs could offer an alternative. Some multinationals have set up operation hubs in India, where workers handle accounting or develop cybersecurity systems. Those jobs are part of what has made India the fifth-largest economy, and Deloitte, a consulting group, predicts half a million more such jobs there in the next few years.