Four Asian Tigers Singapore HongKong Taiwan And South Korea
Hey Friends, How are you, have you ever heard of the 4 Asian Tigers what are they're Singapore, Hong Kong, Taiwan, and South Korea the story of the Asian Tigers transformation begins after the Second World War.
Once their capital GDP was comparable to the poorest countries in Asia, and Africa but since the 1960s they have consistently maintained high levels of economic growth, and this hard work paid off today, Hong Kong and Singapore are prominent worldwide financial centers.
While South Korea and Taiwan became essential hubs for the global manufacturing of automobiles and electronic components, let's take a look at each one of South Korea the population is 1.7 million since it parted ways with North Korea in 1948.
South Korea has come a long way by building a well-developed logistics infrastructure taking advantage of its strategic location between China and Japan home to leading brands like Samsung Kia Hyundai LG POSCO and others.
South Korea is one of the most tech-savvy countries in the world and the fourth-largest economy in Asia with a GDP of 1.6 trillion dollars that are similar to that of Russia or Canada what are some of the challenges that South Korea is facing today it has a border with an unpredictable neighbor North Korea another challenge is that educational pressure has led to one of the highest suicide rates in the world.
20.2 % suicides per 100,000 people income gap between the rich and the poor if you've seen the movie parasite you know what I'm talking about now let's take a look at Taiwan the population is 23.7 million.
Despite its contentious relationship with China, Taiwan was able to become a manufacturing hub focused on producing parts and intermediate goods foreign trade has been the engine of Taiwan's rapid growth during the past 40 years.
The country is still not a part of the United Nations, due to the pressure from China but it has nevertheless emerged as a reliable exporter some of the most famous brands are Acer, HTC and Asus in 2019 Taiwan had a GDP of 586 billion dollars what are the challenges that Taiwan is facing today.
First of all, it's the political pressure from China Taiwan is still now recognized as a country by many just recently a speaker from the World Health Organization did not have the guts to pronounce Taiwan another challenge is the slow almost zero population growth also English is not as widely spoken especially outside of the capital city of Taipei.
Now let's take a look at Hong Kong the population of 7.4 million Hong Kong has the greatest free-trade policies among the four Asian tigers it has a strong culture of civil law a great infrastructure and strong finance and marketing sectors a former British colony Hong Kong now is considered a special administrative region in China.
This gives it freedom over all of its activities except for its defense until the air 2047 Hong Kong is governed under the principle of one country two systems' a huge aggressive advantage is that English is the official language alongside with Chinese in 2019.
Hong Kong had a GDP of 372 billion dollars this is too much what are some of the challenges first one is a huge income gap between the rich 10% and the poor 10% 17.8 times Wow another one is the political pressure from China that resulted in street protests in 2019 those protests lasted for several months another challenge is the limited territory which brings another challenge high housing prices buildings have to be going higher and higher to accommodate more people
The last Asian Tiger is Singapore after gaining independence in 1959 Singapore's ruling party focused on economic development by encouraging foreign investment Lee Kuan Yew who served as the first Prime Minister from 1959 to 1990 is looking at as the nation's founding father credited with a rapid transition in the country from a developing 3rd world country into a developed first world country within a single generation.
Today Singapore is a wealthy city-state renowned for its conservatism and strict laws the country prides itself on its stability and security considered one of the least corrupt nations in the world and following its no red tape policy regarding incorporation tax forms and visa applications Singapore is one of the easiest places to do business just like in Hong Kong a huge advantage is that English is one of the four official languages it makes it so much easier for local companies to go international.
It's densely, populated and most of its people live in public housing tower blocks although, it only has a population of 5.6 million people Singapore, had a GDP of 362 billion dollars.
What are some of the challenges for Singapore a huge income gap between the rich 10% and the poor 10% about 18 times another one is the high cost of living another one is not enough land, so they have to resort to land reclamation another one is a difficult situation with freedom of the press in 2018.
Singapore was ranked 150 first by reporters, without borders in the Worldwide Press Freedom Index right after Venezuela Russia and Bangladesh press freedom has been curtailed over the years through various national security laws like Singaporeans described themselves living in Singapore is like living in a golden cage.
Now let's check the 4 Asian tigers first population growth who's growing faster let's take a look it seems like Singapore is way ahead with a 1.4 percent growth rate and Taiwan's growth rate is almost zero come on Taiwan you can do better than that let's take a look at average salaries in major cities.
You'll be making more money, but working in Singapore with an average salary of three thousand three hundred and sixty-nine dollars per month and you'll be not as happy work an entire paid with an average salary one thousand five hundred and thirty-nine dollars roads are an essential part of the infrastructure let's see who's got the best roads Singapore is number one in the world. pretty impressive and impeccable roads in Hong Kong.
Comes number four South Korea is not that far behind number nine and Taiwan is number fourteen, by the way, all of them are ahead of the US and Germany let's take a look at the global competitiveness index 2019 this report assesses the ability of countries to provide high levels of prosperity to its citizens which depends on how productively a country uses its available resources according to this index Singapore is number one in the world.
Hong Kong is number three in the world, Taiwan is number twelve and Korea is right behind it who's got the tallest building out of these four building the tallest skyscraper has become a matter of national pride for many countries.
Look at me I'm better than you kind of attitude South Korea comes first with its Latish World Tower with a height of 554 meters completed in 2016 Taiwan is second with its Taipei 101 building with a height of 508 meters completed in 2004.
Hong Kong is third with its international commerce center with a height of 484 meters completed in 2010 what about Singapore for many years that was a height limit of 280 meters allowable for buildings in Singapore but now they have an exception it's called.
Guacho tower that managed to obtain special permission to go beyond 280 meters and it's 290 meters completed in 2016, what about luxury let's compare the number of supercars that you see on the streets well I haven't found any statistics on this I'll just share my personal opinion I saw the biggest concentration of supercars and Singapore, Hong Kong was pretty close and it's also very impressive.
Seoul South Korea was average and Taipei, had the least amount of supercars but don't get me wrong it's still a great city so let's sum it up each one of the four Asian tigers has realized the incredible and unforeseen economic growth during the past 70 years what's the secret.
Inspired by Japan's success they pursued the same goal by invest in infrastructure education and minimizing the red tape in 2018 the combined economy of the Four Asian Tigers had a total GDP of almost three trillion dollars some say the role of Confucianism has something to do with this success because it values stability hard work discipline loyalty and respect.
Towards authority figures could be Lee Kuan Yew, for example, advocated Asian values as an alternative to the influence of Western culture so which one of these impressed you the most and who do you think got the brightest future let me know in the comments below and I'll see you in my next Story thanks for reading.