Importance of Asian Tigers?

• South Korea, Hong Kong, Singapore and Taiwan
• Experienced rapid economic growth in the 1960's and 70's due to cheap labour, laxer regulations and favourable government policies - attracted FDi and TNCs
• Boom in manufacturing industry caused substantial increases in GDP per capita and improvement of social indicators
• Increasing competition from BRICs.

Tigers still significant

• Extended period of rapid growth - South Korea's GDP increased 100 fold between 1963 and 2003 - a new development ie change in government could trigger another exponential increase
• South Korea's life expectancy increased from 54 to 76 (same as US at the time), more stable economy as more stable workforce - developments can be built upon this. More working years in each life - increased productivity
• Adaptablity - TIgers developed their own industry and outsourced to second generation NICs such as Malaysia. 
• Adaptability - South Korea moved from textile manufacturing to…