Excluding Japan, Asia now accounts for one quarter of the world economy and one third of exported manufactured goods.
In the current circumstances, the long-term plan to rebalance the economy away from a reliance on exported manufactured goods, infrastructure and property speculation will be temporarily abandoned in favour of growth of any sort.
In principle, Argentina could have exported manufactured goods to Europe, but they do not appear to have done that.
China on the other hand, exporting manufactured and value added goods, is the largest exporter to the EU, making up 18percentt of EU imports.
For nations that mainly export manufactured products, like the United States and China, the benefits are obvious.
Indonesia has important strengths, including its ability to export manufactured goods and oil.
The original "newly industrializing economies" exporting manufactured goods — South Korea, Taiwan, Hong Kong and Singapore — paid wages that were about 25percentt of U.S. levels in 1990.
Each year Mexico exports manufactured goods to about the same value as the rest of Latin America put together.
Similar to the trade framework between China and Latin America, South Korea's commerce also primarily involves imports of commodities, including iron ore, energy resources and agricultural products, while exporting manufactured products.
Though their agriculture and resource sectors together account for as much as 35% of GDP and two-thirds of exports, these countries increasingly export manufactured goods to other African countries.
