Asian Tigers, NICs Flashcards
Which countries are classed as the Asian Tigers?
Taiwan, South Korea, Hong Kong and Singapore
What was the important factor in the growth of these countries?
Investment from TNCs
Name 3 reasons why TNC based themselves here…
Low labour costs
Reduced trade tariffs
Less strict environmental, labour and planning laws
When manufacturing became successful, what did manufactures then start to do?
Produce higher value goods that were more expensive to make but more profitable when sold
What was the workforce of the Asian Tigers like?
Highly skilled and educateds
Hong Kong’s GNI per capita grew from $1800 in 1973 to…
$32,950 in 2008
To keep costs low, what did TNCs begin to do?
They moved their production to other, less developed countries
The growth of manufacturing in less developed countries from both new and established TNCs created what…
A second wave of NICs
