Importance of Asian Tigers?

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  • 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

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