Deindustrialisation and the Rise of Services in Asian Cities
Asian cities are seeing signs of deindustrialisation as consumers shift their spending towards services such as restaurants and leisure activities. In 2012 for example, Kuala Lumpur’s services industry accounted for 75 percent of the city’s GDP and 85 percent of its employment. Similar trends can be found across China, India and other upper-middle class cities in Asia.
Watch on Youtube