MGCR 382 Lecture : Lecture 5
17 Feb 2012
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Document Summary
Midterm exam covers chapter 1, 2, 3 and 6 (up to page 159 only!) Chapter 2 - global marketplace and business centers (cont. ) Early 1960s to 1990s these countries had high growth rates and rapid industrialization. 2000 to today all 4 tigers became developed and high income economies with high growth rates but . Attention has increasingly shifted to other asian economies that are now experiencing faster economic growth. The fours asian tigers abandoned the import substitution model advocated in the developing world between the two world wars. Domestic consumption was discouraged through government policies such as high tariffs. Growth was fuelled by an abundant cheap and productive workforce. All 4 asian tigers have specialized in areas where their relatively cheap productive labour gives them a competitive advantage. Hong kong and singapore became leading international financial centers. South korea and taiwan became world leaders in information technology.
