SOC298H1 Chapter Notes - Chapter 7: Gross Domestic Product, 1997 Asian Financial Crisis, Four Asian Tigers
Document Summary
The political economy of east asia notes: to east asians, modernization equates with industrialization, namely production of manufactured goods, such an obsession with production helps explain both the east asian economic miracle and the subsequent economic crisis. Industrial policy to promote manufacturing production and exports is at the core of the debate over what explains the east asian miracle. Production overcapacity was also an important reason for the asian financial crisis: a principle form of east asian regional integration is the production network across national borders. The factory of the world: east asian industrialization: east asia has enjoyed rapid industrialization, moving from labour-intensive to capital- intensive to high-tech products, but not at the same pace. Japan was the first industrialized country in east asia. Japan"s postwar mission was more about reconstruction than development. Toyota surpassed general motors as the world"s largest automaker in the first quarter of. In the second wave, south korea, taiwan, singapore, and hong kong industrialized.
