Development and Health
Differences
NICs and Asian Tiger Economies
[Date]
Today I will:
- Learn about what NICs are and be able to explain
the rapid industrialisation of the Asian Tiger
Economies
Development and Health
Differences
Newly Industrialised Countries (NICs) are countries whose economies have not yet reached
Developed Country status but have, in a macroeconomic sense, outpaced their developing
counterparts.
Development and Health
Differences
South Korea
Taiwan
Hong Kong
Singapore
The countries of Eastern Asia
have seen a massive increase
in levels of industrialisation
and wealth since the 1960s.
They are now called Newly
Industrialised Countries
(NICs).
The greatest increase in
development has been in
South Korea, Taiwan and
Singapore which became
known as the “Three Tigers”.
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Differences
Newly industrialised
countries (NICs) are those in
which more that one third of
the GDP is from industry.
Asian Tiger Economies are
the four Asian economies
which have seen a rapid
change in development.
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Differences
Environmental Interactions Textbook Work
Tasks:
Read pages 168 to 169
1.
2.
3.
4.
5.
Make a list of the NICs
Define the term NIC
Why have these countries developed so quickly?
Why have the NICs been so successful?
(Write your ideas in a bullet point list)
Read the “Case Study on Singapore” from page 171 – 173. Sum up the information
about Singapore in a paragraph.
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Life expectancy: 77
years (men), 84
years (women)
Case Study: South Korea
Population: 48.4
million (World Bank,
2011)
Capital: Seoul
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Differences
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Since the 1970s South Korea has transformed from one of the
poorest countries in Asia to one of the richest. They do not have
many natural resources, they have little natural resources (e.g.
typhoons) and having border conflicts with North Korea.
It has become:
- 1st in the world for shipbuilding
- 2nd in the world for steelmaking
- 3rd in the world for car manufacturing e.g.
Hyundai and Kia
- 3rd for electrical goods e.g. LG and Samsung
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Differences
Why has South Korea Industrialised so quickly?
It has an educated workforce, able to work in high tech industries and develop
new ideas.
“THE vast majority of South Korean
youngsters graduate from high school,
and of these, 82% go on to university.
This is the highest rate in the OECD
and, for a country which had an adult
literacy rate of just 22% in 1945, it is
an extraordinary achievement.”
(Source: The Economist)
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Quite cheap labour helped its companies to undercut their
competitors prices.
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It encouraged
foreign companies
by giving subsidies
and cheap loans.
“US and UK law firms are racing
to set up offices in South Korea
to feed its corporations' growing
demand for legal services, after
the government opened the
sector to foreign competition.”
(Source: Financial Times)
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Differences
Companies were also attracted by its
location near the huge market of
China.
Its strategic location on the Pacific Ocean
and next to communist North Korea and
China has led to help from the USA.
Development and Health
Differences
[Task One] Using the Information you have learned and that on page 11 of the
summary notes write two paragraphs on South Korea.
Paragraph One: Introduce what an Asian Tiger Economy is and include some facts
on North Korea including why it is surprising that it developed so quickly.
Paragraph 2: Why did it industrialise?
[Task Two] 2001(a) Suggest reasons for the differences in development between
Newly Industrialising Countries and other Developing countries. You should refer
in your answer to NICs and Developing countries that you have studied. (12
marks)