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Old 24-01-2013, 06:11 PM   #29
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Lightbulb Asian Dragons

The Four Asian Tigers or Asian Dragons is a term used in reference to the highly developed economies of Hong Kong, Singapore, South Korea and Taiwan. These nations and areas were notable for maintaining exceptionally high growth rates (in excess of 7 percent a year) and rapid industrialisation between the early 1960s and 1990s.By the 21st century, all four have developed into advanced and high-income economies, specializing in areas of competitive advantage. For example, Hong Kong and Singapore have become world-leading international financial centres, whereas South Korea and Taiwan are world leaders in manufacturing information technology. Their economic success stories have served as role models for many developing countries, especially the Tiger Cub Economies..

Despite a World Bank report crediting neoliberal policies with the responsibility of the boom, including maintenance of export-led trade regimes, various institutionalist analysts criticized the institution for overlooking a range of other state supported policies that facilitated growth, which reject the tenets of neoliberalism.The tigers experienced decades of supercharged growth based largely on state industrial policies supporting exports to rich, industrialized nations. Even the World Bank report acknowledged benefits from policies of the repression of the financial sector, such as state-imposed below-market interest rates for loans to specific exporting industries. As a result these economies enjoyed extremely high growth rates sustained over decades...
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