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Rapid Economic Growth In East Asian Countries
Beginning of paper
Over the past decade, there has been rapid long-term economic growth
for East Asian countries. These newly industrialising countries are
experiencing growth rates in GDP per head at around 6% to 7% compared to the 2%
to 3% for most industrial economies. If this growth continues, South Korea and
Taiwan might take away America's distin .... Middle of paper
.... the
later a country has industrialised, the faster it has been able to do so.
Another important factor is the degree to which a country is behind the
industrial leaders. In the case of the East Asian countries, South Korea and
Taiwan, both started out with an extremely low income per head. This allowed
much faster growth when copying the leaders. It is important to realize that
these growth rates should slow as the countries catch up.
An ....
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Number of words: 511
Number of pages: 2 (approx. 250 words per double-spaced page)
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