- Created by: Megan
- Created on: 14-06-15 13:36
- 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…