Is Export Led Growth Passé?

Image via Wikipedia Dani Rodrik writes:

As America and other advanced economies become less hospitable to developing-country exports, rapidly growing emerging markets, help as they may, are unlikely to take up the slack and thus provide ample fuel for export-led growth. Import tariffs tend to be higher in developing countries, making it more difficult to gain access to them.
Moreover, developing countries compete in similar products — consumer goods of varying levels of sophistication — so that the politics of expanded South-South trade looks even worse than the politics of North-South trade. Anti-dumping action against imports from China, Vietnam, and other Asian exporters is already commonplace in developing countries...[continue reading]