The emerging income discrepancies d

The emerging income discrepancies during 1986–2000 were driven largely by
the fact that the major Southeast Asian nations, especially Malaysia, Singapore,
and Thailand, had experienced staggering economic growth and rapid economic
development, while most others, including Cambodia, the Lao PDR, Myanmar,
and Viet Nam, had weaker physical and institutional infrastructure, concentrated
on labor-intensive, low value-added production, and hence experienced lower
growth. However, intra-Southeast Asia income convergence appeared in the aftermath
of the Asian financial crisis. From 2001 to 2008, Indonesia, Malaysia,
the Philippines, and Thailand experienced slower growth after a sharp downturn
in 1997/1998, while Cambodia and Viet Nam transitioned toward a market
economy and achieved rapid industrialization, poverty reduction, and economic
development.