Economics S.S.S 3 First Term

WEEK 1

Economics lessons from the Asian Tigers, Japan, Europe and America 1

Performance Objectives

Student should be able to:

1. Explain the factors that account for the rapid development of those countries in South East Asia
2. Explain the meaning of the Japanese miracle  

Content

Economics history of the Asian Tigers

The Four Asian Tigers are the fast-growing economies of Singapore, Hong Kong, Taiwan and South Korea. The four Asian nations have consistently sustained high-growth economic rate since the 1960s, charged by rapid industrialization and exports, which facilitated these economies to be in line with the world’s wealthiest nations.

Hong Kong and Singapore are among the most prominent worldwide financial centres, while South Korea and Taiwan are essential hubs for the global manufacturing of automobile and electronic components, as well as information technology.