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Essay / Eight Best Performing Asian Economies: The Four Tigers
Eight Best Performing Asian Economies (HPAE) – Japan; the “four tigers”: Hong Kong, the Republic of Korea, Singapore and Taiwan; and the three newly industrialized economies (NIEs) of Southeast Asia, Indonesia, Malaysia and Thailand have experienced considerable economic growth over the past forty years of development, as East Asia has a remarkable record of high and sustained economic growth between 1965. until 1990, its 23 economies grew faster than those of all other regions. This achievement is attributable to the seemingly miraculous growth of Hong Kong. has been successfully ranked as the freest economy in the world. The nature of the products and market served by the Hong Kong manufacturer. Therefore, Hong Kong is becoming a major trading center in Asia. The main factor of Hong Kong's success is inextricably linked with China, especially Hong Kong's breakout functions in China for financial services, capital and manufacturing know-how, have driven the expansion of information industry. . Hong Kong's two-tiered information industry mirrors Hong Kong's transformation from a labor-intensive consumer goods manufacturing center to high-tech commerce and services. First, a declining electronics manufacturing base that is redeploying physical assets, investment, capital and management skills to China's provinces. Second, a burgeoning information services market driven by banks, trading houses and insurance companies that participate in leakage to China and other international transactions. From 1982 to 1992, manufacturing as a share of gross domestic product...... middle of paper ......statistical management. Many companies that operate satellites have located them in southern China and therefore do not rely on advanced infrastructure to communicate with these facilities. Second, Hong Kong's manufacturing industry is dominated by small and medium-sized enterprises that lack the resources to develop value-added services. Third, the government is laissez-faire, but its support is necessary to develop advanced physical infrastructure and value-added services. services, especially where industries are dominated by small businesses, the upfront costs are high or the return to the supplier and operator is too low to attract them. However, there is a growing awareness that for Hong Kong, it must be said that it is competitive, as a manufacturer and as a regional center. for manufacturing industries, improved advanced infrastructure, especially in value-added services, is necessary.