Are the Asian tigers a good model for other countries to follow

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Are the Asian tigers a good model for other countries to follow?

        The 4 Asian tigers, Taiwan, Hong Kong, South Korea and Singapore have all had periods of incredible economic growth bringing them into the selection of more economically developed countries. During a period in the 1960’s they used methods which maximised their output from exporting and to reduce importing. Perhaps the main method used was to introduce import taxes to reduce the amount of good imported from other countries therefore increasing the business for national manufacturers and keeping money within the country.

The Tigers have had annual growth rates of output per person well in excess of 6 percent. These growth rates, sustained over a 30-year. South Korea, Taiwan, Hong Kong, and Singapore began attracting foreign direct investment which allowed an accumulation of capital that led to a growing period, are simply amazing. While the average resident of a non-Asian country in 1990 was 72% richer than his parents were in 1960, the corresponding figure for the average Korean is than 638%.

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        However even though their growth had been unprecedented and they are definitely doing something right they have been criticised by economists and geographers for their tactics. The four Asian tigers have a huge dependence on the economic power of their export locations which they have a huge reliance on to purchase their merchandise. If these other countries lose their wealth then the Asian tiger would have no income.

The other problem now is that when they started their economic advance they had an edge. Labour was cheap and productive meaning they would be chosen over other more developed and ...

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