Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Four Asian Tigers shopping experience:
1. Compare - without doubt the biggest advantage that the Four Asian Tigers offers shoppers today is the ability to compare thousands of Four Asian Tigers at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.
2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about
3. Testimonials - don't know anybody that has bought a Four Asian Tigers? Wrong! If the Four Asian Tigers is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.
4. Questions - Got a question about Four Asian Tigers then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....
5. Reputation - Never heard of the company selling Four Asian Tigers? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Four Asian Tigers and build up a picture of their reputation for sales, returns, customer service, delivery etc.
6. Returns - still worried that even after all of the above your Four Asian Tigers wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.
7. Feedback - happy with your Four Asian Tigers then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.
8. Security - check for the yellow padlock on the Four Asian Tigers site before you buy, and the s after http:/ /i.e. https:// = a secure site
9. Contact - got a question about Four Asian Tigers, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.
10. Payment - ready to pay for your Four Asian Tigers, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.
{{Chinese|pic=East Asian Tigers.png|piccap=A map showing the Four Asian Tigers
|t=亞洲四小龍|s=亚洲四小龙|p=Yǎzhōu sì xiǎo lóng|j=aa3 zau1 sei3 siu2 long4|l=
Asia's Four Little Chinese dragon|hangul=아시아의 네 마리 호랑이-->
This article is about Southeast Asian economies. For the article on the biting insect, please see Asian tiger mosquito.
's financial centre, over
Victoria Harbour(viewed from
Tsim Sha Tsui,
Kowloon, Hong Kong), the capital of South Korea's Central Business District (CBD) at dawn. is Taiwan's capital city and financial center.The term
Four Asian Tigers or
East Asian Tigers refers to the economies of
Economy of Taiwan,
Economy of Singapore,
Economy of Hong Kong, and
Economy of South Korea. They are also known as
Asia's Four Little Dragons. These countries and territories were noted for maintaining high Economic growth rates and rapid
industrialization between the early
1960s and
1990s. In the early 21st century, with the original four Tigers at or near to fully
Developed country status, attention has increasingly shifted to other Asian economies which are experiencing rapid economic transformation at the present time.
The four Tigers share a range of characteristics with other Asian economies, such as People's Republic of China and Japan, and pioneered what has come to be seen as a particularly "Asian" approach to
economic development. Key differences include initial levels of education and physical access to world markets (in terms of transport infrastructure and access to coasts and navigable rivers, which are essential for cheap shipping).
Characteristics of the Tiger economies
The Four Asian Tigers pursued an export-driven model of economic development; these countries and territories focused on developing goods for export to highly-industrialized nations. Domestic consumption was discouraged through government policies such as high tariffs. The Four Asian Tigers singled out education as a means of improving Productivity (economics); these nations focused on improving the education system at all levels; heavy emphasis was placed on ensuring that all children attended elementary
education and compulsory high school education. Money was also spent on improving the college and university system.
Since the Four Asian Tigers were relatively poor during the 1960s, these nations had an abundance of cheap labor. Coupled with educational reform, they were able to leverage this combination into a cheap, yet productive workforce. The Four Asian Tigers committed to
egalitarianism in the form of
land reform, to promote property rights and to ensure that agricultural workers would not become disgruntled. Also, policies of agricultural subsidies and tariffs on agricultural products were implemented as well.
The common characteristics of the Four Asian Tigers are:
- Focused on exports to richer industrialized nations
- Trade surplus with aforementioned countries
- Sustained rate of double-digit growth for decades
- Non-democratic and relatively authoritarian political systems during the early years
- High level of U.S. treasury bond holdings
- High savings rate
- The ranks of GDP (by nominial) List of countries by GDP (nominal) of South Korea, Taiwan, Hongkong, and Singapore are 12th, 22th, 36th, and 44th as in order.
- A high degree of what is referred to as economic freedom. Hong Kong, Singapore, Taiwan and South Korea are 1st, 2nd, 37th, and 45th respectively on the Heritage Foundation's Index of Economic Freedom.
Role of traditional philosophies
Economic success in
Japan, followed by the Four Asian Tigers, has been attributed to the existence of harmonious labor-management relations.( cf. W. Dean Kinzley, "Industrial Harmony in Modern Japan. The Invention of a Tradition", Routledge, London & New York, 1991). “Industrial Harmony” is this unique “Culture of harmony” that was consciously invented and developed over the last century in Japan. A semi-bureaucratic organization called the “Kyochokai” (The Co-operation and Harmony Society) was established in 1819 to meet the needs of an emerging industrial society. The “Kyochokai” took the lead in trying to define the values which would be suitable for a new Japanese-style industrial society, at the time of great social troubles in industrial Europe. The resulting "invented" tradition has played an important role in the evolution and character of Japanese economic values and behavior of social peace for economic development. ( cf. W. Dean Kinzley, "Industrial Harmony in Modern Japan. The Invention of a Tradition", Routledge, London & New York, 1991).
Japanese experience appears to challenge unilinear theories of modernization, and to suggest that Japan’s uniqueness lies in the creation of its own kind of modernity, sharply divergent from that to be found in Western countries, and based paradoxically upon a reaffirmation of ancient Confucian values and native Japanese traditions of harmony, self-sacrifice and non-individualistic group striving in pursuit of a common cause. Japan’s emphasis on long-term growth, scrupulous market evaluation, and process engineering are all well regarded as important components of its economic development.
This is the foundation ("Grund" as it used to be) of "Asian political economy".
Criticism of the export-driven trade model
The Four Asian Tigers were strongly affected by the 1997
Asian financial crisis, which impacted each Tiger to varying degrees. While
Taiwan was not as strongly affected,
South Korea was badly battered by the crisis. However, South Korea rose up to become the 9th largest economy in the world (2007 standard) and Taiwan stayed as the 16th largest economy in the world. Because of the focus on export-driven growth, many of the Tigers became caught up in a game of currency devaluation. The current criticism of the Four Asian Tigers is that these economies focus exclusively on export-demand, at the cost of import-demand. Thus, these economies are heavily reliant on the economic health of their targeted export nations. In addition, these nations have met difficulties after they lost their initial competitive edge, cheap productive labour.
India and
China have now emerged as fast-growing economies based on cheap labour, largely replacing the Tigers.
Some economies were becoming overheated, stock prices were overvalued, property prices were sky-high and investors were jittery and nervous. Because of the structural weaknesses in the regulatory framework, once
capital flight began, the stock market nosedived and the major Asian currencies depreciated significantly. This caused social unrest, political instability, regime change and financial bailing out by the IMF. This also gave impetus to some Asian governments to impose capital controls to restrict currency outflows and maintain monetary and financial stability.
Taiwan created legislation requiring all outgoing capital transfers to be declared. However, there were no direct restrictions.
Since the crisis most of the Tiger economies have become financially stable with resilient institutions and companies and regulatory frameworks in place to prevent another crisis. This has also shown many Asian governments that the easy and predictable prosperity of export-led growth and cheap labour costs won't last forever. To better compete with the emerging manufacturing giants like
China and India, they will have to create new industries, move up the value-add chain and create stronger service sectors in their economies.
See also
References
External links
- BBC map of the Asian Tigers
- ASEAN tigers
- The Elephant at the Gate in China Economic Review
{{Chinese|pic=East Asian Tigers.png|piccap=A map showing the Four Asian Tigers
|t=亞洲四小龍|s=亚洲四小龙|p=Yǎzhōu sì xiǎo lóng|j=aa3 zau1 sei3 siu2 long4|l=
Asia's Four Little Chinese dragon|hangul=아시아의 네 마리 호랑이-->
This article is about Southeast Asian economies. For the article on the biting insect, please see Asian tiger mosquito.
's financial centre, over Victoria Harbour(viewed from
Tsim Sha Tsui, Kowloon,
Hong Kong), the capital of
South Korea's Central Business District (CBD) at dawn. is Taiwan's capital city and financial center.The term
Four Asian Tigers or
East Asian Tigers refers to the
economies of
Economy of Taiwan,
Economy of Singapore,
Economy of Hong Kong, and
Economy of South Korea. They are also known as
Asia's Four Little Dragons. These countries and territories were noted for maintaining high Economic growth rates and rapid industrialization between the early
1960s and
1990s. In the early 21st century, with the original four Tigers at or near to fully
Developed country status, attention has increasingly shifted to other Asian economies which are experiencing rapid economic transformation at the present time.
The four Tigers share a range of characteristics with other Asian economies, such as People's Republic of China and
Japan, and pioneered what has come to be seen as a particularly "Asian" approach to economic development. Key differences include initial levels of
education and physical access to world markets (in terms of transport infrastructure and access to coasts and navigable rivers, which are essential for cheap shipping).
Characteristics of the Tiger economies
The Four Asian Tigers pursued an export-driven model of economic development; these countries and territories focused on developing goods for export to highly-industrialized nations. Domestic consumption was discouraged through government policies such as high tariffs. The Four Asian Tigers singled out education as a means of improving Productivity (economics); these nations focused on improving the education system at all levels; heavy emphasis was placed on ensuring that all children attended elementary
education and compulsory high school education. Money was also spent on improving the college and
university system.
Since the Four Asian Tigers were relatively poor during the 1960s, these nations had an abundance of cheap labor. Coupled with educational reform, they were able to leverage this combination into a cheap, yet productive workforce. The Four Asian Tigers committed to
egalitarianism in the form of
land reform, to promote property rights and to ensure that agricultural workers would not become disgruntled. Also, policies of agricultural subsidies and tariffs on agricultural products were implemented as well.
The common characteristics of the Four Asian Tigers are:
- Focused on exports to richer industrialized nations
- Trade surplus with aforementioned countries
- Sustained rate of double-digit growth for decades
- Non-democratic and relatively authoritarian political systems during the early years
- High level of U.S. treasury bond holdings
- High savings rate
- The ranks of GDP (by nominial) List of countries by GDP (nominal) of South Korea, Taiwan, Hongkong, and Singapore are 12th, 22th, 36th, and 44th as in order.
- A high degree of what is referred to as economic freedom. Hong Kong, Singapore, Taiwan and South Korea are 1st, 2nd, 37th, and 45th respectively on the Heritage Foundation's Index of Economic Freedom.
Role of traditional philosophies
Economic success in
Japan, followed by the Four Asian Tigers, has been attributed to the existence of harmonious labor-management relations.( cf. W. Dean Kinzley, "Industrial Harmony in Modern Japan. The Invention of a Tradition", Routledge, London & New York, 1991). “Industrial Harmony” is this unique “Culture of harmony” that was consciously invented and developed over the last century in Japan. A semi-bureaucratic organization called the “Kyochokai” (The Co-operation and Harmony Society) was established in 1819 to meet the needs of an emerging industrial society. The “Kyochokai” took the lead in trying to define the values which would be suitable for a new Japanese-style industrial society, at the time of great social troubles in industrial Europe. The resulting "invented" tradition has played an important role in the evolution and character of Japanese economic values and behavior of social peace for economic development. ( cf. W. Dean Kinzley, "Industrial Harmony in Modern Japan. The Invention of a Tradition", Routledge, London & New York, 1991).
Japanese experience appears to challenge unilinear theories of modernization, and to suggest that Japan’s uniqueness lies in the creation of its own kind of modernity, sharply divergent from that to be found in Western countries, and based paradoxically upon a reaffirmation of ancient Confucian values and native Japanese traditions of harmony, self-sacrifice and non-individualistic group striving in pursuit of a common cause. Japan’s emphasis on long-term growth, scrupulous market evaluation, and process engineering are all well regarded as important components of its economic development.
This is the foundation ("Grund" as it used to be) of "Asian political economy".
Criticism of the export-driven trade model
The Four Asian Tigers were strongly affected by the 1997 Asian financial crisis, which impacted each Tiger to varying degrees. While Taiwan was not as strongly affected, South Korea was badly battered by the crisis. However, South Korea rose up to become the 9th largest economy in the world (2007 standard) and Taiwan stayed as the 16th largest economy in the world. Because of the focus on export-driven growth, many of the Tigers became caught up in a game of currency devaluation. The current criticism of the Four Asian Tigers is that these economies focus exclusively on export-demand, at the cost of import-demand. Thus, these economies are heavily reliant on the economic health of their targeted export nations. In addition, these nations have met difficulties after they lost their initial competitive edge, cheap productive labour.
India and
China have now emerged as fast-growing economies based on cheap labour, largely replacing the Tigers.
Some economies were becoming overheated, stock prices were overvalued, property prices were sky-high and investors were jittery and nervous. Because of the structural weaknesses in the regulatory framework, once
capital flight began, the stock market nosedived and the major Asian currencies depreciated significantly. This caused social unrest, political instability, regime change and financial bailing out by the IMF. This also gave impetus to some Asian governments to impose capital controls to restrict currency outflows and maintain monetary and financial stability. Taiwan created legislation requiring all outgoing capital transfers to be declared. However, there were no direct restrictions.
Since the crisis most of the Tiger economies have become financially stable with resilient institutions and companies and regulatory frameworks in place to prevent another crisis. This has also shown many Asian governments that the easy and predictable prosperity of export-led growth and cheap labour costs won't last forever. To better compete with the emerging manufacturing giants like
China and
India, they will have to create new industries, move up the value-add chain and create stronger service sectors in their economies.
See also
References
External links
- BBC map of the Asian Tigers
- ASEAN tigers
- The Elephant at the Gate in China Economic Review
Four Asian Tigers - Wikipedia, the free encyclopedia
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