Asian Tigers Hong Kong and Singapore Huge financial centers

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Asian Tigers Hong Kong and Singapore Huge financial centers South Korea and Taiwan. hubs of global manufacturing in automobile/electronic components and information technology Rapidly developing, free market economies rising standard of living NIEs=Newly Industrialized Economies Japan = also rapidly developed

New Industrialized Economies (NIEs) Discipline & hardworking labor force (cheap labor) HUGE government investment in education (elementary, secondary, college). High rates of personal saving that allowed generous fund investments in new technology. Economic focus on exports to highly-industrialized nations. Relatively authoritarian gov’ts during the early years of development

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