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Economic Tiger Feared - Essay Example

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The concept of "economic tiger" defines an economy that experiences rapid economic growth and development within a very short time (De…
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Economic Tiger Feared
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Economic Tiger "Feared" Affiliation: Growth and development of economies around the world take different rates, given the level of economic variables that drive economic pursuits. The concept of "economic tiger" defines an economy that experiences rapid economic growth and development within a very short time (De Blij, 2009). In other words, tiger economies experience outstanding growth and development rates compared to the rest of the world. For instance, Japan, South Korea, Singapore, Hong Kong, and Taiwan dominated the East Asias economic tigers (De Blij, 2009). Today, more countries China and Dubai and among other have joined the list of tiger economies in the world.
Dubai developed to become an economic tiger by exploiting geographical, economic, and human factors in her environment. With the geographical location of Dubai being primarily a desert, this factor was a drawback in comparison to thriving economies of the world. In a bid to match international business trends, this factor was treated as strength by economic developers in Dubai. A favorable environment for investment drew international investors into Dubai. In the human factor context, the population in the economy comprises of both locals and internationals, thus enjoying a broad labor force in economic pursuits (De Blij, 2009). European Industrial Revolution and the revolution being experienced in India relate to relate to that of Dubai in terms of resource base, adequate labor supply and investment practices, and relatively stable political environment.
Economic tigers should be tamed as opposed to being feared. This is because their vibrant economies are beneficial to other less performing economies. For instance, the developing economies have benefited from massive projects that are financed by tiger economies. On the same note, tiger economies can provide information and guidance on economic growth and development pursuits by sharing their strategies and policies with economies that have the potential to handle them. Other global powers that deem it necessary to tame tiger economies should engage in economic collaborations, engaging in practices that result in measures and policies that regulate rapid rates of economic growth and development to a point that outperforms many other economies around the world.
Reference
De Blij, H. J. (2009). The World Today: Concepts and Regions in Geography, 4th Edition. New
York: John Wiley & Sons. Read More
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