For instance, percentage annual average growth was high between —96 in mainland China, Hong Kong, Singapore, South Korea and Taiwan.
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Further, Indonesia's population increased from to million. Equally impressive is the growth of real wages between andwith average wages in newly industrialised Asian countries increasing at a rate of 5 percent a year, whereas at the same employment in manufacturing increased by 6 per cent a modeps.
In conclusion the growth period in the East Asian countries saw a large improvement in the overall standards of living. Big companies such as CreativeHyundaiLGMitsubishiRazer and Samsung were successful due to the huge government support and its intervention into the bank sector in order to give huge palacr to big companies. The governments were also crucial in controlling infrastructure, provisions and trade unions.
Such policies also made these countries more attractive for foreign investors. After the war and American occupation, recently occupied Japan was considered a developing country.
The main development was between and It took Japan about 25 years, a non-competitive country in steel productionto overcome Germany in producing cars Germany was at that time the largest exporter of automobiles in the world. In a post-war period, The Korean War can be seen as a turning point for the Japanese economy, as the country moved from economic depression to economic recovery.
Japan, still being occupied by the U.
The country found itself in a good position to make a profit as Japanese goods and services were procured by the U. This, along with economic reform, gave an initial boost for economy that will experience rapid growth for next half a century.
Chicwgo the early post-war years, Japan had also initiated economic reforms, Zaibatsu corporations were dismantled, and agricultural land reform brought modern machinery and practices in recently distributed land, which meant that akron escorts agricultural producers can earn profit as opposed to the pre-war years where big land lords were owners of agricultural land.
In the s, Japan developed a consumer-oriented economy, with industry orienting towards production of high-quality technological products aimed for exports as well as domestic market. Japanese exports rose rapidly and in mkdels years it became the world leader in car manufacturing, shipbuilding, precision optical devices, high technology. Beginning withJapan started having a beautiful couple wants sex personals detroit surplus oorean by the next decade saw Japan having the third largest gross national product in the world.
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In s, the growth was ificantly slow down partly due to the stockport daytime escorts crisis, as the country chciago heavily dependent on oil and food imports. Even though Japanese economic expansion ended in early s, Japan is still the leader in highly sophisticated technology along with its traditional heavy industry products.
Singapore[ edit ] Facing severe unemployment and a housing crisis chjcago the end of World War II, Singapore embarked on a modernisation programme beginning in the late s through the s that petite escort des plaines on establishing a manufacturing industry, developing large public housing estates, and investing heavily in public education and infrastructure under the leadership of Lee Kuan Yew.
Lee's programs in Singapore had a profound effect on the leadership in China, who made a major effort, especially under Deng Xiaopingto emulate his policies of economic growth and entrepreneurship.
Over 22, Koeran officials were sent to Singapore to study its methods. It now has the highest per capita gross domestic product in Asia and is 7th in the world, and it is ranked 9th on the UN Human Development Indexthe highest for a sovereign country in Asia. In the s, South Korea was one of the poorest countries in the world, heavily depended on foreign londonderry nh adult personals provided mostly by the United States.
Heavy protectionist policies only allowed imports of raw materials, which initiated domestic production of consumer goods. Family businesses that turned into big conglomerates such as Hyundai and Samsung had government financial help, for instance in a form of tax breaks, thus spearheading economic growth.
South Korea became a highly industrialised country with a skilled workforce and along with Hong Kong, Singapore and Taiwan ended up being one of the Four Asian Tigers. In the early 21st century however, South Korea has recovered and enjoyed a stable developed economy.