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Rapid Economic Growth In East Asian Countries
Part 1 of Paper
....hese newly industrialising countries are
experiencing growth rates in GDP per head at around 6% to 7% compared to the 2%
to 3% for most industrial economies. If this growth continues, South Korea and
Taiwan might take away America's distinction as the world's richest country.
This rapid economic growth is a result of .... Part 2 of Paper
....factor is the degree to which a country is behind the
industrial leaders. In the case of the East Asian countries, South Korea and
Taiwan, both started out with an extremely low income per head. This allowed
much faster growth when copying the leaders. It is important to realize that
these growth rates should slow as the countries catch up.
An area in which East Asia is investing much of its GDP is in physical
capital and education. Compared to the industrial leaders, the East Asian
countri.... |
| Number of words: 511 - Approximate pages: 2 |
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