Copying economically successful Asian countries
Synonyms: Reproducing East Asian economic miracle
Context: Since the 1960s, East Asia has been the world's fastest growing region economically. Japan, the "tiger economies" of South Korea, Taiwan, Hong-Kong and Singapore, and more recently Thailand, Malaysia and Indonesia, have grown twice as fast as the rest of East Asia, three times as fast as Latin America and South Asia, and five times as fast as sub-Saharan Africa. Given this, it has been suggested that some of the most important (successful) factors behind East Asia's economic success should be actively copied by countries in Eastern Europe, Africa and Latin America.
Implementation: According to the World Bank, the most easily imitated economic growth strategy of East Asia is the so-called "export push", in which the entire economy is geared towards exports.
Claim: With hindsight to the failings of Western development, the road for developing countries can be easier followed.
Subjects: Economics EconomicReligious observance
Type Classification: D: Detailed strategies