The issue of research and development, (R&D) was at the front burner of the development strategies of the Asian nations. These countries were able to adapt and customize the products of R&D as the bedrock of their technological advancement to support the export-led growth strategy. The adaptation of R&D was instrumental to ensuring the diversification and widening of the export base.
The lingering caution evident in capital spending decisions has also been manifest in less-aggressive hiring by businesses. In contrast to the typical pattern early in previous business-cycle recoveries, firms have appeared reluctant to take on new workers and have remained focused on cost containment.