ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Bells Toll for Industry

THE expression 'de-industrialisation' may sound harsh, but its use to describe the damage caused by policies of structural adjustment to the industrialisation of the country is not inappropriate. A sharp and persistent decline in the growth of manufacturing output and a reduction in employment in manufacturing have been held to be two clear indications of the process of de-industrialisation. A third aspect is the change in the country's international trading position, specifically a persistent deceleration in the growth of exports produced by manufacturing industry. A fourth indicator is the undermining of the foundations of self-propelling industrial development in the form of erosion of the growth of metals and metal-based industries, engineering industries and capital goods industries in general.

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