The Asian Tigers

Economic growth in developing Asian countries

Growing Economies in SE AsiaPrior 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)

1. 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):

1. 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

However, other developing Asian nations are still economically struggling

These nations are now able to compete in the global economy