Economic growth in developing Asian countries The Asian Tigers Economic growth in developing Asian countries

Growing Economies in SE Asia Prior to 1970 Japan was the only economically competitive Asian nation Starting in the 1980s, four countries in Southeast Asia have experienced a large amount of economic growth They are known as the “Asian Tigers” The tigers rapid growth was due to a highly educated & skilled workforce The tigers have governments that emphasized a strong work ethic The Asian Tigers: (economic growth since 1980) Singapore +10.4% 2. South Korea + 9.7% 3. Taiwan (Republic of China) + 9.5% 4. Hong Kong (People’s Republic of China since 1997) + 7.3% US growth since 1980 + 3.4%

The Little Tigers In the past decade, other developing Asian countries are starting to experience rapid economic growth. The Little Tigers (since 1990): Thailand +7.3% 2. Indonesia +5.5% 3. Malaysia +5.2% 4. Philippines +4.8% Both the tigers and little tigers are moving to a manufacturing/export driven economy and decreasing industries such as textiles & agriculture These nations are now able to compete in the global economy However, other developing Asian nations are still economically struggling