Should South Asia - or other regions, for that matter - try to emulate East Asia's rapid increase in living standards, extraordinary reduction in poverty, high and rising integration into global product and financial markets, and substantially enhanced role in global economic affairs? Hard to argue what the answer is. It is possible that not all paths to such outcomes include industrialization and reliance on exports. I am not aware of any, however. And, as a result, government policies that take each country's unique circumstances and the changing global environment into account need to facilitate that process.