grow d seed of knowledge

1. Presented By :
Subhi Bundela
Shweta Solanki
Sunil Chichra
Supriya Jain
Surbhi Ranade

2.  Hong Kong
 Singapore
 South Korea
 Taiwan

3.  Also known as Asian Dragons
 Which referred to the highly free and developed economies of
Hong Kong, Singapore South Korea and Taiwan.
 All were developed and high-income economies
 A focus on exports, an educated population and high savings
rates. The economies of the four tigers have proved to be
resilient enough to withstand local crises, such as the Asian
financial crisis of 1997, as well as global shocks like the
credit crunch of 2008. The IMF includes the four Asian tigers
in its category of 35 advanced economies.
 Nowadays, IMF includes 4 Asian tigers in its category of 35
advanced economies.

4.  All four territories had a strong degree of Chinese
influence, with most having a large ethnic Chinese
community (except South Korea; cultural influence),
Singapore had a population that included 75% ethnic
Chinese, Hong Kong had 95% and Taiwan had 98%.
 During the 1960's they had an abundance of cheap labour
 They had non-democratic and relatively authoritarian
political systems during the early years, so the
governments could easily drive through their plans for
economic development.
 They focused their development drive on exports to
richer industrialized nations rather than focusing on
import substitution, which meant that they built up trade
surpluses with the industrialized countries.

5.  Hong Kong and Singapore have become world-leading
international financial centres, whereas
South Korea and Taiwan are world leaders in
manufacturing information technology
 Their economic success stories have served as
role models for many developing countries,
especially the Tiger Cub Economies i.e.
Indonesia, Malaysia, Thailand and the
Philippines

7.  Focus on increasing exports
 High growth rates (excess 7 percent per year)
 Rapid industrialization
 Education of population
 High saving rates
 Small sized with small population
 Little or no natural resources

8.  Same Culture background (Confucianism)
 Affected by Western countries
 Specialization in areas
 Skilled and cheap workforce
 Stable political environment
 Market economies / trade gateways
 Coastal / Maritime access

9.  Rapid industrialization driven by exports
 Low taxation and free trade
 Service-based economy in the 1980s
 GDP grew 180 times (1961~1997)
 largest re-export center

10.  Foreign direct investment and a state-led drive
 One of the least corrupt countries
 Skilled workforce
 Depends heavily on exports and refining
imported goods
 Tourism (medical tourism)

11.  Heavily dependent on international trade
 Outward-looking strategy in early 1960s
 Government initiatives
 Huge national conglomerates

12.  19-point program of Economic and Financial
Reform
 Help of USAID
 Liberalized market controls

13. Country or
territory
GDP
nominal
millions of
USD (2011)
GDP PPP
millions of
USD (2011)
GDP
nominal per
capita
USD (2011)
GDP PPP
per capita
USD (2011)
Trade
millions of
USD (2011)
Exports
millions of
USD (2011)
Imports
millions of
USD (2011)
Hong Kong 246,941 354,272 34,049 49,342 944,800 451,600 493,200
Singapore 266,498 314,963 49,270 59,936 818,800 432,100 386,700
South Korea 1,163,847 1,556,102 23,749 31,753 1,084,000 558,800 525,200
Taiwan 504,612 886,489 21,591 37,931 623,700 325,100 298,600

14.  The export oriented economies of the four Asian
tiger nations which benefited from American
consumption
 No small part to each country’s government fiscal
stimulus measures
 These fiscal packages accounted for more than 4% of
each country's GDP in 2009
 Another reason for the strong bounce back is the
modest corporate and household debt in these four
nations.

15.  Attributed to export oriented policies and strong development policies
 Sustained rapid growth and high levels of equal income distribution
 A World Bank report suggests two development policies among
others as sources for the Asian miracle: factor accumulation and
macroeconomic management
 High levels in physical and human capital amongst the four
countries, this subsequently led to a rapid growth in per capita income
levels
 While high investments were essential to the economic growth of
these countries
 Role of human capital was also important, Education in particular is
cited as playing a major role in the Asian miracle
 Decrease in the gap between male and female enrolments

16.  Impact on all of the four Asian tiger economies. South
Korea was hit the hardest as its foreign debt burdens
swelled resulting in its currency falling between 35-
50%.
 By the beginning of 1997, the stock market in Hong
Kong, Singapore, and South Korea also saw losses of at
least 60 % in dollar terms.
 However, four Asian tiger nations recovered from the
1997 crisis faster than other countries due to various
economic advantages including their high savings rate
(except South Korea) and their openness to trade.

17.  Were hit hard by the financial crisis of 2007-
2008, the GDP of all four nations fell by an
average annualized rate of around 15%.
 Exports also fell by a 50% annualized rate, Weak
domestic demand also affected the recovery of
these economies.
 In 2008, retail sales fell 3% in Hong Kong, 6% in
Singapore and 11% in Taiwan.