CH 11 The Asia Pacific Region Flashcards
Who are the Four Asian Tigers?
Hong Kong
South Korea
Singapore
Taiwan
What could be considered the key to continued economic progress in Hong Kong?
Free market philosophy
Entrepreneurial drive
absence of trade barriers
well-established rule of law
low and predictable taxes
transparent regulations
complete freedom of capital movement
What could be considered the key to continued economic progress in Taiwan?
relationship w China
What is the minimum growth of China’s GDP targeted by their government?
7%
What is the minimum discretionary income that economists believe is necessary in order to sustain a market economy in China?
$5,000
What kind of a business environment is India in present times?
DIFFICULT business environment
What makes the business environment in India DIFFICULT in present times?
PROTECTIONIST: Tariffs are ABOVE those of developing world norm
Inadequate protection of intellectual property rights
Anti-business attitudes of India’s federal and state bureaucracies continue to hinder potential investors and plague their routine operations
Delay by policymakers on selling money-losing SEO’s, making labor laws flexible, and deregulating banking
Widespread corruption and ingrained bribery
What are the keys to the success in transformation of the ASEAN members from cheap-labor countries to industrialized nations?
4 major events that caused the vigorous economic growth of ASEAN privatization of their economies
What are the 4 major events that transformed ASEAN
ASEAN gov. commitment to deregulation, liberalization, and privatization of their economies
The decision to shift their economies from commodity based to manufacturing based
Decision to specialize in manufacturing components in which they have a comparative advantage
Japan’s emergence as a major provider of technology and capital
