Asian Tigers Case Study

Hong Kong, Singapore, South Korea and Taiwan are known as Asian Tigers. The highly free developed

economics in these four districts gave them this title. “Asian Tigers” had long­time high growth rates,

between 1960s and 1990s, the growth rates even reached 7 percent. At the same time, they began

industrialization in a high speed. Now, these nations and regions are considered as advanced and high- income economies. Economic growth is used to judge the ability of an economy to produce goods and

service in a period of time and it is measured by the growth rate of real GDP. Technological changes

influence the economic growth a lot. When a new technology is used by the public, there is always a large

economic growth. Therefore, with the globalization,

Asian Tigers is a great success. The four districts were in blooming for thirty years. No any other

districts had such great successes in the history. Until now, the East Asian Tigers are still in the blooming,

but their economic growth is slower than in the past. Aging of population is a really problem to the

development of the four Tigers. And in the processing of globalization, new technologies like transportation

developed rapidly and convenient to transport. Thus, Asian Tigers can not consider convenient transporting

as one of their advantages any more. Because people in the Asian Tigers areas are higher educated, their

labor force prices are higher than other places in the Asia, like the Vietnam and Laos. In the recent years,

European and America are moving their processing companies to relatively backward countries. Asian

Tigers lost one more advantage. The main challenges which four districts are facing are that aging

population and the industrial restructuring.

“Rapid Aging Will Become a Major Problem in East Asia”, Statista

http://www.statista.com/chart/1847/people­estimated­to­be­aged­65­and­older­in­2010­and­2050/ (accessed

03.09.2015)

From the graph, people could find that aging population is becoming a more and more important

When there are more young labor force, the productivity could be higher and

efficient. Aging population is inevitable in the East Asian Tigers right now. The only thing that government

could do is to solve it. If the country could not deal with this problem, the whole economy will be

influenced. Aging population problem poses important long­term public policy challenges. Social insurance

mechanisms are needed to ensure that elderly persons have adequate incomes when they retire, particularly

as traditional extended family support system weaken(Peter S. Heller). All Asian Tigers have taken actions.

They published relatively comprehensive medical insurance schemes, use market principles to contain

costs. In Taiwan Province of China, there is a largely universal coverage in the pension fund systems. This

is exact what the other Asian Tigers need to do. Though it is still difficult for Hong Kong, South Korea