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GLOBAL ECONOMY - Essay Example

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The four tigers adopted the neoliberal and free trading while the ASEAN 4 dependent on export policies streamlined to foster their development in their individual countries and active industrial policies (Hirst 2002). The four tigers adopted a modern neo-Confucian economic…
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GLOBAL ECONOMY
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GLOBAL ECONOMY

Download file to see previous pages... The four tigers stipulated trade rules for all the member state while the ASEAN 4 implemented a system they called the ASEAN way. The system embraces freedom of domestic legislation while adhering to the ASEAN community (Hirst 2002). The four Tigers first had a strong foreign funding especially from the USA that gave South Korea and Taiwan a strong support. It was due to its geopolitical interests in the region while the ASEAN four countries mostly depended on financial policies; government funding and remittance’s from their economies to further develop their economy. They differed in the source of funding.
ASEAN 4 countries mostly relied in export of lower categories of value added goods that have slower growth like apparel clothing, organic chemicals, but have slowly grown into electronics, telecommunication equipment and machinery especially Malaysia and Philippines. It is in contrast to 4 Tiger nations that have a broader range of export categories with most reliance on electronic and machinery. Export policies of the two regions differ from each ...Download file to see next pagesRead More
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