MKT 360 Lecture Notes - Lecture 31: Four Asian Tigers, Newly Industrialized Country, Foreign Exchange Controls
14 Nov 2016
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Four asian tigers: first countries to move from developing to newly industrialized countries: hong kong, south korea, singapore, taiwan. Hong kong: reverted to china in 1997 when it created an administrative region sar: No import duties (free market philosophy, no tax) In 5 days you can set up the entire corporation, reporter example. Complete freedom of capital movement: no exchange controls, no monitoring how much money you bring in or take out. Taiwan: former officials of china are the ones who live here, these countries grew by servicing the economy of japan. They needed parts for their automobiles and technology so taiwan was a. South korea big part of this: strategically located, there providers for japan growing economy, samsung. Singapore: another financial center, the hk of the south, ecaa countries. China: lowest wages in the world, wages are going up and slowly becoming less competitive in their exporting business, like thailand, cambodia, vietnam, indonesia: plus one.
