Current Situation
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Currently the "international development community" (World Bank, OECD, many United Nations departments, and some other organizations) endorses development policies like water purification or primary education. The community does not recognize traditional industrialization policies as being adequate to the Third World or beneficial in the longer term, with the perception that it could only create inefficient local industries unable to compete in the free-trade dominated political order which it has erected.
The relationship between economic growth, employment and poverty reduction is complex. Higher productivity is argued to be leading to lower employment (see jobless recovery). There are differences across sectors, whereby manufacturing is less able than the tertiary sector to accommodate both increased productivity and employment opportunities; over 40% of the world's employees are "working poor" whose incomes fail to keep themselves and their families above the $2 a day poverty line. There is also a phenomenon of deindustrialization, such as in the former USSR countries' transition to market economies, and the agriculture sector often is the key sector in absorbing the resultant unemployment.
Read more about this topic: Industrialisation
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