East Aisan Miracle/ The Asian Tigers - Focused on exporting and Trade
- Countries including South Korea, Taiwan, Hong Kong and Singapore underwent industralisation in the 1960's - Prior tho the 1960's they had very low growth rates, similar to that of Subsaharan Africa Today
- The foundation for this growth was free trade and liberalisation of markets to allow trade to other countries
- Trade with the US and Japa with imports of Technology and new processes allowed rapid growth and the establishment of industries
- They then could export products and run trade surpluses with other global economies
- Singapore is the most open country in the world
All countries have reached developed status and have high standards of living
- achieved universal primary education
- Reduced poverty rate by 50% in 20 years
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