2  BIS Review 7/2004  The export-oriented development strategy of the Asian economies - in contrast to the more inward-looking approach in Latin America - has brought a considerable measure of success. It has stimulated not only cross-border trade but also economic growth. Developing Asian economies currently account for nearly one-quarter of global production.
They have exploited their capacity for fast growth by •  efficiently mobilising their physical and human resources  •  adapting foreign technology and  •  utilising the opportunities for specialisation resulting from their integration into the world economy. As a consequence, they have roughly doubled their economic weight over the past 30 years.