The four Asian Tigers: Hong Kong, South Korea, Singapore, and Taiwan have swiftly expanded through economics, industrialization, technology, and education. These countries were the first to transform from a developing nation into a newly industrialized nation (Cateora, 327). These regions, also known as the “East Asian miracles”, highly influenced the creation of China’s economy and trade relations. The four Asian Tigers’ economic boost and trade alliances, motivated the U.S. Trade Representative to develop a free trade agreement. Singapore and South Korea were the first to consent to the U.S. Trade Representative's offer and become apart of the free trade agreement (Cateora, 328). In turn, this arrangement has expanded not only China’s growth but has helped to develop surrounding nations as well.
How did the four Asian Tigers rise out of a developing state? In general, each of the nation's government concentrated on economic expansion and knew a motivated and educated society played an important role in their development (Cateora, 329). Considering China is broken up into regions and each requires its own expansion and strategy, respectively, the regions had their own methods of development (Cateora, 319). More specifically, Hong Kong’s approach to development was focusing on autonomy (Cateora, 322). …show more content…
Perhaps, having full autonomy from the People’s Republic of China, allowed Hong Kong to adapt their ruling according to their “social and economic systems, lifestyle, and rights and freedom”. This helped to create a more synonymous region. Hong Kong quickly raised from their financial crisis in 1997 by investing in “factories and infrastructure” (Cateora, 322). In addition, according to “Development and Globalization” Hong Kong grew their economy through their textile industry. Then, they used this revenue to improve infrastructure, education, and healthcare (Development and Globalization). As for Taiwan, they expanded their economy by fixating on exports. Due to their large inexpensive labor, Taiwan was known for exports. Cateora announces 12 percent of China’s exports are a result of Taiwan. Taiwan is essential to China’s World Trade Organization (WTO) agreement because the region provides “the latest technology and management systems” that;s needed to be associated with the WTO (Cateora 323). “Development and Globalization” states the establishment of production facilities (from foreign organizations), has brought globalization and high-tech industries to Taiwan, which has built the region's economy. South Korea has developed themselves by being “the center of trade links with north China and Asian republics of the former Soviet Union” (Cateora, 328). South Korea’s highly competitive exports, such as “petrochemicals, electronics, machinery, and steel” has improved the region’s economy by decreasing costs and improving the economy of scale (Cateora, 328). In fact, Investopedia mentions this competition has boosted the economy, so much so, that now Taiwan’s “GDP is over $1.1 trillion, making this nation of 23.4 million people one of the strongest economies in Asia”. Similarly, Singapore improved its region by concentrating on economic status, employment and education (Development and Globalization). In fact, they even created an Economic Development Board to address and improve their trade (Development and Globalization). Overall, industrialization and trade have led to the four Asian Tigers’ developments. As a result, has provided Asia with technology, education, and funds. Besides this, foreign investors and the ease of government regulations played an important role as well.
How did the four Asian Tigers rise out of a developing state? In general, each of the nation's government concentrated on economic expansion and knew a motivated and educated society played an important role in their development (Cateora, 329). Considering China is broken up into regions and each requires its own expansion and strategy, respectively, the regions had their own methods of development (Cateora, 319). More specifically, Hong Kong’s approach to development was focusing on autonomy (Cateora, 322). …show more content…
Perhaps, having full autonomy from the People’s Republic of China, allowed Hong Kong to adapt their ruling according to their “social and economic systems, lifestyle, and rights and freedom”. This helped to create a more synonymous region. Hong Kong quickly raised from their financial crisis in 1997 by investing in “factories and infrastructure” (Cateora, 322). In addition, according to “Development and Globalization” Hong Kong grew their economy through their textile industry. Then, they used this revenue to improve infrastructure, education, and healthcare (Development and Globalization). As for Taiwan, they expanded their economy by fixating on exports. Due to their large inexpensive labor, Taiwan was known for exports. Cateora announces 12 percent of China’s exports are a result of Taiwan. Taiwan is essential to China’s World Trade Organization (WTO) agreement because the region provides “the latest technology and management systems” that;s needed to be associated with the WTO (Cateora 323). “Development and Globalization” states the establishment of production facilities (from foreign organizations), has brought globalization and high-tech industries to Taiwan, which has built the region's economy. South Korea has developed themselves by being “the center of trade links with north China and Asian republics of the former Soviet Union” (Cateora, 328). South Korea’s highly competitive exports, such as “petrochemicals, electronics, machinery, and steel” has improved the region’s economy by decreasing costs and improving the economy of scale (Cateora, 328). In fact, Investopedia mentions this competition has boosted the economy, so much so, that now Taiwan’s “GDP is over $1.1 trillion, making this nation of 23.4 million people one of the strongest economies in Asia”. Similarly, Singapore improved its region by concentrating on economic status, employment and education (Development and Globalization). In fact, they even created an Economic Development Board to address and improve their trade (Development and Globalization). Overall, industrialization and trade have led to the four Asian Tigers’ developments. As a result, has provided Asia with technology, education, and funds. Besides this, foreign investors and the ease of government regulations played an important role as well.