GEOG 1001 Lecture 8: Lecture 8: Asia Rising (Part 1)

2 Pages
Unlock Document

GEOG 1001
Lisa Benton- Short

Asia Rising: Part 1 Three Developing Economies Examined ● Japan and the Asian Tigers (1960-1997) ○ South Korea ○ Thailand ○ Singapore ○ Indonesia ○ Malaysia ○ Taiwan ○ Hong Kong ● China (1997-present) ● India (1990s-present) ~~~Japan and the Asian Tigers~~~ ● Rapid growth and reduced inequality ● From 1980-1997, these 7 nations accounted for 40% of all goods produced for LDCs Obstacles to Success in the 1950s and 1960s ● War recovery (Japan) ○ Infrastructure ○ Short supply of capital ● Weak natural resource base (Japan, Korea, Taiwan, Hong Kong) ○ Lack of oil, timber, minerals ● Reputation for shoddy goods (Japan, Taiwan, Korea, Hong Kong) ● Geography: far from major markets in North America, Europe Reasons for Success ● Cultural ○ Strong Confucian tradition ■ Belief in hierarchy (not upset if they are at the lower end - understand need to be in a specific role to improve collective good) ○ Emphasis on education ○ Cultural values of sacrifice ■ High personal savings, low consumption ● Government-business relationships ○ Strong state role in economy ○ Control production (vs market economy) ○ Target and support certain industries (like high tech ones) ■ Government investment ■ Tariffs eliminate foreign competition ■ Channel $$/loans to certain sectors Japan’s Success ● Converted strong national economy in
More Less

Related notes for GEOG 1001

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.