China And The High Asian Economies - 3127 Words

Since the 1960s, Asia has become richer quicker than any other region across the world. China and the High Performing Asian Economies (HPAE) have been the fastest growing economies ever, demonstrating phenomenal economic growth in the years between 1965 and 1990. Compared to large parts of Asia Sub-Saharan Africa and Latin America, the HPAE’s have been highly successful at achieving high growth rates. Most of this success can be attributed to the staggering growth in Japan, the four tigers including Hong Kong, the Republic of Korea, Singapore and Taiwan as well as the NIE’s of Southeast Asia, Indonesia, Malaysia and Thailand. Controversial issues have been raised in relation to the affiliation between the government, the private sector and the market. As a consequence of the coexistence of public policies and rapid growth in some of the HPAEs particularly Japan, Korea, Taiwan and Singapore. Moreover government intervention within these economies has been a necessity to promote development. Policy interventions, according to the World Bank report came in various forms, targeted and subsidized credit to selected industries, low deposit rates, protection of domestic import substitutions, subsidies to declining industries, the establishment and financial support of government banks, development of export-marketing institutions and the sharing of information between public and private sectors. As a result, one can question whether any of the above interventions is actually aShow MoreRelatedAsian Business Environment1002 Words   |  5 PagesEFA – Asian Business Environment – Dr. Yang Laike (lkyang@bs.ecnu.edu.cn) 17/04/2012: Session 1 Course description Why Asia? * The most dynamic and fastest growing region in the world * Most distinctive cultures and business †¦ Course Objectives? †¦ Learning modules China- India – Japan - Korea (major economic countries) M1 Asian Business Culture M2 Economic structure amp; development in Asia M3 political system and its impact on business M4 The business law and taxationRead MoreAsian Tigers Essay1057 Words   |  5 Pagesï » ¿ It is evident that the global economy has moved on from the Asian Tigers and the present and future of the global economy does in fact lie elsewhere, in particular India and China.   The Asian Tigers are a group of countries which are the first set of NIC s; Taiwan, Singapore, Hong Kong and South Korea. 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Chinas growing economy is not only gaining international prestige, but its confidenceRead MoreThe Resilient Australian Economy : Australia Essay1609 Words   |  7 PagesThe Resilient Australian Economy Australia has been one of the few developed nations to remain largely unscathed by the global financial crises of 2008 – a crisis, which has left in its wake seemingly intractable problems of unemployment, large government debts, financial fragility and political unrest in Europe, Japan and North America (McAuley 2012). This would be further explored in the essay. Composition The Australian economy faces new challenges like the high exchange rate of Australian