1. Global strategies
  2. Copying economically successful Asian countries

Copying economically successful Asian countries

  • 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.

Broader

Facilitates

Succeeding
Yet to rate

Facilitated by

Value

Uneconomic
Yet to rate

SDG

Sustainable Development Goal #8: Decent Work and Economic Growth

Metadata

Database
Global strategies
Type
(D) Detailed strategies
Subject
  • Economics » Economics
  • Economics » Economic
  • Content quality
    Yet to rate
     Yet to rate
    Language
    English
    Last update
    Dec 3, 2024