The Construction Sector in the Asian Economies

This comprehensive and up-to-date collection of data on the Asian construction sector presents a unique guide to construction economics in the following countries: Australia, China Mainland, China Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore Sri Lanka, Vietnam. The state of the construction sector is a good indicator of the overall health of an economy. In under-developed countries activity in the construction sector shows how much resources are being put into infrastructure development; and in developed countries, it demonstrates the extent to which development is maintained and indicates the general direction of the economy. New trends in the construction sector in Asia are: larger private sector participation in infrastructure projects; increased vertical integration in the packaging of construction projects; and increased foreign participation in domestic construction. These may be attributed to the globalization or de-regulation of markets as necessitated by fiscal,technological and managerial constraints. While these trends present intra-Asian opportunities, they have also accentuated the financial and technical superiority of the developed countries in the region and the corresponding inferiority of the developing ones. Issues such as this are examined in the detailed analyses of the construction sector and the state of the construction industry in each country. This study enables broad conclusions to be drawn as to the way local construction industries can develop to give stronger potential for export and overseas competitive advantage.