The crisis of the NICs: fundamental, not transitional

"In sum, it is undeniable that the NIC strategy of export-oriented growth delivered high-speed growth over the last 25 years. However, a lethal conjunction of international and internal developments is leading to the unravelling of the NIC model, leaving ailing tigers stranded on the perilous zone between the developed and underdeveloped worlds. It will take a new, bold set of economic policies to keep them from sliding back to the Third World in the 1990's ..." - pages 3-