Asian Tigers

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The global economy has moved on from he Asian Tigers; the present and the future of the global economy lie elsewhere. What extent do you agree with this statement?

The Asian Tigers are a group of four countries – Hong Kong, South Korea, Singapore and Taiwan. They were a group of newly industrialized countries that emerged around the 1960’s - 1970’s, where they experienced huge economic growth. The source of their growth was due to there export based economy allowing large amounts of exports to be be exported to developed countries with their governments encouraging wealthy MEDC countries to invest in their assets, such as their huge numbers of cheap labour forces. When this succeeded, the Asian Tiger’s saw better living standards, as well as westernised development taking place such as improved transport links and communications. However in the late 20th century new emerging markets in other countries, as well as the fact that financial crisis occurred within their own economic markets, threatened the Asian Tiger’s. While the Asian tigers still command significant power in the global economy, you can argue that the BRIC countries (Brazil, Russia, India, China) are now the main focus of development and the potential superpowers of the future global economy, with all of these economies being within the top 25 largest economies. While all of them have the potential to be global economic superpowers, with some arguing that China with is current rates of 7% growth. Then in the future other emerging markets such as the MINT countries (Mexico, Indonesia, Nigeria and Turkey) as well as the CIVETS (Columbia, Indonesia, Vietnam, Egypt, Turkey and South Africa). Will be the centre of global development and play a significant part in the global economic stage.

Firstly out of all the Asian countries China is the economic and political powerhouse of Asia followed by India, another of the world’s largest economies, with it quickly growing finical capital of Mumbai and...
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