Differences between 4 Tigers and ASEAN 4 - Essay Example

The four tigers stipulated trade rules for all the member states 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 strong foreign funding, especially from the USA which gave South Korea and Taiwan 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 on the export of lower categories of value-added goods that have slower growth like apparel clothing, and organic chemicals, but have slowly grown into electronics, telecommunication equipment, and machinery, especially Malaysia and the Philippines. It is in contrast to the 4 Tiger nations that have a broader range of export categories with the most reliance on electronics and machinery. The export policies of the two regions differ from each other. Read More