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Rapid Economic Growth In East Asian Countries
Over the past decade, there has been rapid long-term economic growth
for East Asian countries. These newly industrialising countries are
experiencing growth rates in GDP per head at around 6% to 7% compared to the 2%
to 3% for most industrial economies. If this growth continues, South Korea and
Taiwan might take away America's distinction as the world's richest country.
This rapid economic growth is a result of several economic and political factors.
The pace of economic development, growth in world trade and communications,
and the investment in physical capital and ....
Word count: 511 - Page count: 2
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