Economy of East Asia


Economy of East Asia

The economy of East Asia is one of the most successful regional economies of the world. [^ "Industry and Enterprise Development in the Far East", in "Industry and Enterprise: An International Survey of Modernization and Development", ISR Publications/Google Books, 2nd edition, 2003. ISBN 978-0-906321-27-0. [http://books.google.co.uk/books?id=lZS7OXZUsnMC&dq=isbn:0906321271] ]

Major positive factors have ranged from favorable political-legal environments for industry and commerce, through abundant natural resources of various kinds, to plentiful supplies of relatively low-cost, skilled and adaptable labor.

In modern societies, a high level of structural differentiation, functional specialization, and autonomy of the economic system from government is a major contributor to industrial-commercial growth and prosperity. Currently in the Far East, trading systems are relatively open; and zero or low duties on imports of consumer and capital goods etc. have considerably helped stimulate cost-efficiency and change.

Free and flexible labor and other markets are other important factors making for high levels of business-economic performance.

East Asian populations have demonstrated rapid learning capabilities – skills in utilizing new technologies and scientific discoveries – and putting them to good use in production. Work ethics in general tend to be highly positive.

Finally, there are relatively large and fast-growing markets for consumer goods and services of all kinds.

Notes


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • East Asia — For other uses, see East Asia (disambiguation). East Asia Area 11,839,074 km2 (4,571,092 sq mi)[1] …   Wikipedia

  • Spotlight: East Asia and the Transition in North Korea — ▪ 1995       The kingdom of Koguryo, the 7th century equivalent of North Korea, had a distinctive way of dealing with outside enemies: avoid direct confrontation and maintain a formidable military capability inside fortified cities, including… …   Universalium

  • Economy of the People's Republic of China — Economies of Special Administrative Regions of Hong Kong and Macau are administered separately from the rest of People s Republic of China. Therefore, the information below pertains only to mainland China unless specified otherwise. For the… …   Wikipedia

  • Economy of Africa — The economy of Africa consists of the trade, industry, and resources of the peoples of Africa. As of July 2005, approximately 887 million people were living in 54 different states. Africa is the world s poorest inhabited continent. Though parts… …   Wikipedia

  • Economy of Hong Kong — Hong Kong s highly favorable geographical position and entrepot trading opportunities are wealth generating assets. It has a superb sheltered natural harbor. For centuries, this had made Hong Kong a major haven for pirates before it became a… …   Wikipedia

  • Economy of Malaysia — Fixed exchange rates 1 Ringgit = 100 sen Fiscal year Calendar year …   Wikipedia

  • Economy of Indonesia — Jakarta s central business district at Thamrin Street, Central Jakarta. Rank 15th Currency Rupiah (I …   Wikipedia

  • Economy of Thailand — Rank 30th (nominal) / 23rd (PPP) Currency Thai baht (THB) …   Wikipedia

  • East Asian Community — (EAC) is a proposed trade bloc for the East Asia countries that may arise out of either ASEAN Plus Three or the East Asia Summit (EAS). Potential members If based on the members of the East Asia Summit the members will be:* plus the Candidate… …   Wikipedia

  • East Star Airlines — East Star redirects here. It is not to be confused with Star East or Star of the East. East Star Airlines 東星航空 IATA 8C ICAO DXH …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.