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GEOG 216 (241)

Growth of Asian Tigers

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GEOG 216
Geraldine Akman

Growth of Asian Tigers Export-oriented industrialization (EOI) - ‘export enclaves’ (1960s on ) - 1 started HK, Singapore, Korea - To promote exports (trade liberalization + closer ties w/world economy) - Outward-looking - A lot of nats starts w/ISI + when they had sufficient base for exports they switched (former colonies that started to indusz) - Keep flexible market prices (open to international prices) - Open up to international prices, supply + demand set by international markets - Exploit comparative advantage ex: agricul products, cheaper labour, external rates - Large labour size/supply (input for manufacturing) that is mostly un-unionized (large population desperately looking for jobs, aka lower wages) Steps in EOI - State manages agrarian + edu reform (post-WWII, 1960s) - South Korea + Taiwan, larger nats w/sig agricul sectors - Made sure to produce enough to feed own population, so they don’t need to import food before they began exporting - Agrarian reform: large land holdings  switched to small farms  When surpluses produced, invested into better agricul tech, improvement of farms or sold to local markets - Edu reform: better edu + health services - Labour-intensive stage - Producing non-durable goods - Investment-driven stage (FDI + indig/local investment) - Capital as a factor of production - You will not have capital to invest unless you have a surplus to reinvest - 1 way to attain capital: improve agricul exports/FDI, opening economy up to MNCs - Research + development stage (last + most difficult stage) - Create own technologies - Need very highly trained, edu pop - 1 wave of export-oriented markets - Ex: South Korea, Taiwan, HK, Singapore - Latter two = city states acting as regional offshore entrepots + commercial centers  Break of bulk point  Imported into these cities then re-exported out (make $ during transit stage) South Korea as an Example of EOI - 1950s: 1 started w/ISI to create infant export industries (ex: textiles, clothing, non-durable goods) - Labour = cheap + mostly unskilled - 1961+: gov policies change to favour exports - Gov still plays large role in economy - Coordination of public + private secto
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