The Four Asian Tigers: Giving An Exemplary Model All Developing Countries Need To Adopt

Funom MakamaStarred Page By Funom Makama, 20th Jul 2013 | Follow this author | RSS Feed | Short URL http://nut.bz/3ed8p2l7/
Posted in Wikinut>Business>Analysis

A lot of developing Nations, especially from Africa seem so backwards in the global trend of technology, advancement in civilization and living condition and one may seem to wonder why this is so. Are there no resources at all in these regions? Even if there aren't, are the human resources in their disposal not sufficient enough for developments? Let's take a look at the four tigers of Asia.

Who are these Asian Tigers?

The Four Tigers of Asia are: HongKong, Singapore, South Korea and Taiwan. Despite a major hitch or economic challenge in 1997 which is the Asian financial crisis which relatively affected Taiwan and Singapore and even crashed the stock market of South Korea and massively affected that of Hong Kong; these 4 countries never gave up and surprisingly registered unprecedented growth in excess of 7% every year; beginning from the early 1960s.

They have given priority to Industrialization but more specifically, South Korea and Taiwan are world leading manufacturing information technology centers while Singapore and Hong Kong are basically financial centers.

South Korea

Identified as one of the G-20 major economics, it has accelerated highly in economic growth via educational boom, industrialization, technological achievements, rapid urbanization, skyscraper boom democratization and globalization; despite having no natural resources. Their economic advancement is a major surprise to the entire world of developments and even to themselves and no wonder, today such progress is named the Miracle on the Han River. Such a miracle has made them rub shoulders with the west and this is evident in their hosting of the 1988 summer olympics and co-hosting of the 2002 FIFA World Cup.

Taiwan

Having a GDP of about $425 Billion and a 10% growth and a GDP per capita of $18,300 of which corporate services make up a 96.2% of such GDP; Industries: 29.2% and Agriculture: 1.6%. Its main Industries include electronics, communications, information technology products, petroleum refining, armanents, chemicals, textiles, Iron and steel, Machinery, cement, food processing, vehicles, consumer products, pharmaceuticals, Agricultural products (milk, beef, fish, pigs, tea, fruits, corn, vegetables and Rice) and Natural resources such as small deposits of Natural gas, coal, limestone, marble and asbestos. With these, an export revenue of about $310 Billion is earned each year.

Singapore

With a GDP of about $260 billion, an annual growth of 18% and per capita of $62,000; their main Industries include electronics, chemicals, oil drilling equipments, financial services, Rubber processing and rubber products. More include offshore platform construction, ship repair, processed food and beverages. Singapore has earned an export revenue of about $358.4 Billion without any economic aid.

There are some sectors of their economy they placed more emphasis on and these sectors should not be overlooked. They are: Banking, taxation, biotechnology, energy and infrastructure. Thumbs up goes to them in trading, investment and aid. Singapore is one of the surprise packages in world economic growth and is a very good example for developing nations to follow.

Hong Kong

Hong Kong has a GDP of about $330 Billion and a per capita of $31,757 as of 2010. It's main industries are toys, watches, clocks, electronics, shipping, banking, tourism, clothing and textiles. The most remarkable of their development is their labour force of which is concentrated in such areas: Community and social services, transportation, communication, real estate, Insurance, financing, hotels, restaurants, wholesale and retail trading, construction and manufacturing, having a revenue of about $400 Billion and foreign reserves of about $275 Billion is tremendous for such a country.

Most developing nations of the world, especially African countries have 10 times or more resources than these 4 tigers (Nigerian for instance, with Human resources: 160, million people; with enormous potential in Agricultural production and more than 4 trillion tones of Mineral resources). and hence have no excuse whatsoever not to begin necessary developments for economic growth and good living standards for their citizens. If Africa continues to be a dark continent even after a couple of years, it then does not only show its gross and embarrassing nature of its laziness, it also shows its stupidity to the highest level.

Tags

Agricultural Products, Asian Financial Crisis, Asian Tiger, Banking, Biotechnology, Communication, Economic Challenge, Energy, Hongkong, Information Technology, Infrastructure, Labor Force, Miracle On The Han River, Pharmaceuticals, Singapore, South Korea, Taiwan, Taxation

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author avatar Funom Makama
A medical Practitioner and a passionate writer. A proud published Author of 2 books, more than 2,000 articles online and 500 Poems!
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Comments

author avatar cnwriter..carolina
20th Jul 2013 (#)

most edifying page this Funom...thank you so much for the information...brings cheer to all the down reports TV and newspapers report

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author avatar Funom Makama
20th Jul 2013 (#)

yeah cnwriter... I'm most grateful for your comment

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