MKT 360 Lecture Notes - Lecture 31: Four Asian Tigers, Newly Industrialized Country, Foreign Exchange Controls
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(exam 3 starts here)
Chapter 11
Four Asian tigers: first countries to move from developing to newly industrialized countries.
o Hong Kong
o South Korea
o Singapore
o Taiwan
Hong Kong
o Reverted to China in 1997 when it created an administrative region SAR:
Peoples repuli of Chia
o Hong Kong has a special visa
o Most important port for entry and exit to china
o “peial separate goeret i Hog Kog to rule the area
o Cath: ot eeroe a e part of the HKs goeret, the adidates are
chosen by mainland china.
o Eooi future depeds to hias attitude toards apitalis ad politial
freedom
Reason for their economic success:
No import duties (free market philosophy, no tax)
Entrepreneurial drive
o In 5 days you can set up the entire corporation, reporter
example
No corruption
Complete freedom of capital movement
o No exchange controls
o No monitoring how much money you bring in or take out.
Taiwan
o Former officials of china are the ones who live here.
o These countries grew by servicing the economy of japan
They needed parts for their automobiles and technology so Taiwan was a
big part of this.
South Korea
o Strategically located
o There providers for japan growing economy
o Samsung
Singapore
o Another financial center
o The HK of the south
o ECAA COUNTRIES
China
o Lowest wages in the world
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