...E C O N O M I C I S S U E S 1 Growth in East Asia What We Can and What We Cannot Infer Michael Sarel I N T E R N A T I O N A L M O N E T A R Y F U N D E C O N O M I C I S S U E S 1 Growth in East Asia What We Can and What We Cannot Infer Michael Sarel I N T E R N AT I O N A L M O N E TA RY F U N D WASHINGTON, D.C. ©1996 International Monetary Fund ISBN: 1-55775-607-4 Published September 1996 Reprinted November 1996 To order IMF publications, please contact: International Monetary Fund, Publication Services 700 19th Street, N.W., Washington, D.C. 20431, U.S.A. Tel.: (202) 623-7430 Telefax: (202) 623-7201 Internet: publications@imf.org Preface The Economic Issues series was inaugurated in September 1996. Its aim is to make accessible to a broad readership of nonspecialists some of the economic research being produced in the International Monetary Fund on topical issues. The raw material of the series is drawn mainly from IMF Working Papers, technical papers produced by Fund staff members and visiting scholars, as well as from policy-related research papers. This material is refined for the general readership by editing and partial redrafting. The following paper draws on material originally contained in IMF Working Paper 95/98, “Growth in East Asia: What We Can and What We Cannot Infer From It,” by Michael Sarel, an Economist in the Fund’s Southeast Asia and Pacific Department. It has been prepared by David D. Driscoll of...
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...The Myth of Asia’s Miracle Paul Krugman Foreign Affairs; Nov/Dec 1994; Vol.73, Iss. 6; pg. 62, 17 pgs The Myth of Asia’s Miracle Paul Krugman A CAUTIONARY FABLE Once upon a time, Western opinion leaders found themselves both impressed and frightened by the extraordinary growth rates achieved by a set of Eastern economies. Although those economies were still substantially poorer and smaller than those of the West, the speed with which they had transformed themselves from peasant societies into industrial powerhouses, their continuing ability to achieve growth rates several times higher than the advanced nations, and their increasing ability to challenge or even surpass American and European technology in certain areas seemed to call into question the dominance not only of Western power but of Western ideology. The leaders of those nations did not share our faith in free markets or unlimited civil liberties. They asserted with increasing self-confidence that their system was superior: societies that accepted strong, even authoritarian governments and were willing to limit individual liberties in the interest of the common good, take charge of their economies, and sacrifice short-run consumer interests for the sake of long-run growth would eventually outperform the increasingly chaotic societies of the West. And a growing minority of Western intellectuals agreed. The gap between Western and Eastern economic performance eventually became a political issue. The Democrats recaptured...
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...1.0 Introduction 1 2.0 Reasons MNC goes IPN 2 2.1 New Economic Geography (NEG) 2 2.1.1 Economies of Scale 2 2.1.2 Thickness of Markets 2 2.2 Production Fragmentation 3 2.2.1 Factor-cost and technology advantage 4 2.2.2 Low International Trade Cost 4 3.0 Using two case studies of firms headquartered in two different countries, show how the growth of trade and investment links among several Asian economies is related to the strategic production and location decisions of firms and how firms took into consideration the main factors affecting such decision. 6 3.1 First Case Study of Firm; Toyota Motor Corporation Headquartered in Japan 6 3.2 Second Case Study of Firm; Apple Inc Headquartered in U.S. 7 3.3 Comparisons between Toyota Motor Corporation and Apple Inc. 7 3.4 Factors Toyota and Apple took such strategic production and location decisions 8 4.0 Conclusion and Recommendation 9 5.0 References 10 1.0 Introduction East Asian region has been seen as the world’s fastest growth centre for decades with the emerging of East Asian Tigers- Hong Kong, Singapore, South Korea and Taiwan- shows that the world’s economic centre of gravity is gradually shifting East (Ando & Kimura, 2005). The World Bank (1993) listed this as “East Asian Miracle”. With more and more acceptance of globalization and trade liberalization in East Asia had formed international production network (IPN) – the cross-borders trades of parts and components to other countries or regions...
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...RETHINKING THE EAST ASIAN MIRACLE JOSEPH E. STIGLITZ AND SHAHID YUSUF Editors RETHINKING THE EAST ASIA MIRACLE JOSEPH E. STIGLITZ AND SHAHID YUSUF Editors A copublication of the World Bank and Oxford University Press i Oxford University Press Oxford • New York • Athens • Auckland • Bangkok • Bogotá • Buenos Aires • Calcutta • Cape Town • Chennai • Dar es Salaam • Delhi • Florence • Hong Kong • Istanbul • Karachi • Kuala Lumpur • Madrid • Melbourne • Mexico City • Mumbai • Nairobi • Paris • São Paulo • Singapore • Taipei • Tokyo • Toronto • Warsaw and associated companies in Berlin • Ibadan © 2001 The International Bank for Reconstruction and Development / The World Bank 1818 H Street, N.W., Washington, D.C. 20433, USA Published by Oxford University Press, Inc. 198 Madison Avenue, New York, N.Y. 10016 Oxford is a registered trademark of Oxford University Press. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press. Cover design and interior design by Naylor Design, Washington, D.C. Manufactured in the United States of America First printing June 2001 1 2 3 4 04 03 02 01 The findings, interpretations, and conclusions expressed in this study are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations...
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...‘The global economy has moved on from the Asian Tigers; the present and the future of the global economy now lie elsewhere’. To what extent to you agree with this statement. (40 marks) The global economy is the economy of the world, considered as the international exchange of goods and services expressed in monetary units. The Asian Tigers, (Hong Kong, Singapore, Taiwan and South Korea) were economically developing states during the 1960’s and 1970’s, and are a rare example of third-world-rapid-development - development that nobody could have predicted 50 years ago! However, does this mean that the global economy still relies on them in the same way? And can there be a practical application for these states in contemporary development, whilst the 20th century threat of emerging markets and financial crisis looms near? The Asian Tigers were highly considered the first wave of Newly Industrialised Countries (NIC’s), and experienced enormous growth in the 1960’s and 1970’s. They had many appealing factors that found favour with the larger Transnational Corporations (TNC’s) and as a result of which they became the bulk of the workforce for many foreign companies, such as Nike. Above all, their currencies were cheap, and therefore they easily attracted investment from foreign countries that could make more profit. And they were seen as less of a competition in relation to the newly industrialised areas, such as China, which were still using higher wages and therefore a more expensive...
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...International Political Science 8 October, 2013 World Bank: The East Asian Miracle The East Asian Miracle is described as a historic series of events and policies that led to the economic growth of twenty-three East-Asian economies from the 1960s to the 1990s. Each economy was impacted differently thus the most important due to the degree of change would be: Japan, Hong Kong, Taiwan, Korea, Singapore, Indonesia, China, Malaysia and Thailand. A combination of many policies and government turned these developing nations into industrial leaders of the world. These changes didn’t occur without government stimulation and policy changes, some of which were directed towards market and some towards state. Each policy had to be tailored to a country’s specific dilemma, many of these countries suffered from different problems and had to be addressed as such. Eventually, each of these led to many outcomes which together became the rapid growth of the Eastern Asian economies such as: increase of real income per capita, balancing the margin between income inequalities, human welfare, and more. Government intervention and actions are usually a good thing depending on what the desired outcome is, but too much of it can be detrimental to the welfare of the economy. A balanced amount of stimulation was needed in order to get the economy going, such as limited government spending to limit deficits. A statement from the book that directly relates to the focus of these reforms is “The eight...
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...growth over the last 40 years because they often have very low labour costs, attracting TNC’s and encouraging foreign direct investment. TNC’s get enticed by low labour costs, large English-speaking workforce and reduced trade tariffs. NIC’s are characterised by the fact that they are gaining an increasing share of the world manufacturing sector. The first generation of NICs were known as the ‘Asian Tigers’ – Hong Kong, Taiwan, South Korea and Singapore. They attracted many TNCs because of low cost of land, cheap labour, reduced trade tariffs, and expanding domestic markets (increasing demand). The Tigers achieved massive economic growth with Hong Kong's GNI per capita grew from $1800 in 1973 to $32,950 in 2008. However, the growth model of the Asian Tigers can be criticised. They have not followed the typical model of import substitution with an aim of becoming self-sufficient, instead they have focused on exports, arguably preying on the on the healthy economic state of MEDC’s. But this activity isn’t sustainable within the global economy, from the 1960s to the 1980s the Tigers pursed this method of development, but by the 1990s their economies had expanded too fast and prices of property, stocks and shares had become overvalued and they saw mass inflation, harming their global reputation. Also their environmental degradation was huge, air pollution and deforestation have largely increased, meaning we cannot globally move forward with trying to implicate pollution laws if...
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...income as a nation. A ‘TNC’ is a company that operates in at least two countries. They often have management headquarters in their home country and operate in host countries alongside; examples would include GlaxoSmithKline, BP, Wal-Mart and Coca-Cola. NICs are having a prominent impact on sculpting the global economy. They are characterised by the fact that they are gaining an increasing share of the world manufacturing output, a significant growth in their manufactured export production and a significant annual growth in their manufacturing sector. The first generation of NICs were, given their geographical location, known as the ‘Asian Tigers’ – Hong Kong, Taiwan, South Korea and Singapore. The impact of NICs is global; the 21st century is arguably an era of global economic independence. The growth model of the Asian Tigers has been criticised. They have not followed the typical model of import substitution with an aim of becoming self-sufficient, instead they have...
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...In order to trace the events that led to the eventual collapse of the Asian economies, one must venture across the ocean to the United States. The issue of liberalisation first gained attention in the US during the Regan Administration. However, it was during the Clinton era that liberalization became a top priority. Whereas previous governments had pushed for the liberalisation of Japan, one of Clintons main foreign policy objectives was the liberalisation of the Asian economies. This process was pushed forth in Asia with such vehemence because the region held a lot of investment opportunities for American Banks, Brokerages, and other financial sector businesses. Unfortunately, Asia�s economies were not structurally ready to deal with the influx of capital that was headed their way. They had weak banking and legal systems that were unable, or unwilling, to regulate the flow of foreign capital in the country. The Americans eventually persuaded Koreato relax its capital flow regulations by giving it the option of joining the Organisation for Economic Co-operation and Development. Even then, Korea was concerned that its financial institutions may not be able to deal with an influx of foreign capital. One fatal mistake that Korea, as well as other Southeast Asian countries made, was that they opened their capital markets in the wrong way. They did not allow long term investments in Korean companies, but rather, only short-term investments that could be removed easily. One example...
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...Lence 1.) Title: Consumers perceived brand image of Tiger Beer. Tiger has been known to be targeted towards the modern male. It is could therefore be seen as a drink for man that is celebrating in parties, social gatherings and during festive celebrations. The brand with the label Tiger also supports different types of events ranging from sports to music which could further help to differentiate their brand images from their direct market competitors. Tiger Beer brand however, sets itself differently towards the Asian consumers, and the Western consumers. In Asia, Tiger Beer is being promoted as a hip and trendy drink amongst the younger consumers. While in its export markets, Tiger beer is being sold to consumers as a drink that brings about feeling being more an Asian and potrays an image that focuses more on its long beer heritage and history in Asia. Score: 4/5 http://tjosephpollock.efoliomn.com/Uploads/CPIproposal.pdf 2). Title:New Developments in Radlers, Shandies, and Pre-Mixed Beer Drinks Based on this article, it gave a clear understanding and analysis of the market trends over the past five years which proved to have leaned towards moderate drinking, refreshment, female beer drinking, and consumer willingness to try new tastes. It also provided a clear review between beer drinkers and the consumers who preferred ciders as the beer alternatives and their demands. Whether the traditional beer still be able to be a sustainable product while able to meet the...
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...COURSEWORK MARKETING MIX OF TIGER BEER STUDENT NAME : ARORA SAURABH STUDENT ID NUMBER : G1136238P LECTURER : THAM YUEN HOI Declaration of originality This is to certify that the work is entirely my own and not of any other person, unless explicitly acknowledged (including citation of published and unpublished sources). The work has not previously been submitted in any form to the University of Ballarat or to any other institution for assessment for any other purpose. Signed _________________________________________________ Date ___________________________________________________ Word Count - Number of Pages: 15 - Number of Words: 2361 * Exclude Cover Page * Exclude Reference list Table of Contents 1 EXECUTIVE SUMMARY 2 1.1 Introductory Sentence 2 Tiger Beer Product 2 1.2 Major Findings 2 1.3 Major Recommendation 3 1.3.1 Use its resources to increase the quality of their product 3 1.3.2 Reducing hangover percentage for consumer 3 2 Introduction 4 2.1 Background 4 2.2 Purpose 4 3 Description and the evaluation of the 4Ps 5 3.1 Description of Tiger Beer 5 3.2 Product 6 3.2.1 Tiger Beer Crystal 6 3.2.2 Tiger Super Cold 6 3.2.3 Ice Freeze Tiger 6 3.3 Promotion 8 3.4 Places 10 3.5 Price 11 4 Conclusion 11 Refrences 12 ...
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...massive. All of them answering a basic question, “How do I parent?” This brings up an examination of Parenting styles: the good ones, the bad ones, and the worst ones. In 2011, Amy Chua authored a best-selling book “Battle Hymn of the Tiger Mother,” giving her the label, “Tiger Mom.” This book “suggested Chinese mothers tend to raise more successful children because of strict, cultural tendencies,” and had critics everywhere discussing the damaging effects this parenting style would have not only on her children, but Asian children in general. 5 years later, The Today Show revisited Chua and her two daughters, now adults, to observe just how damaging Tiger Parenting seems to be. As a response to the sudden limelight of Tiger Parenting, the American Psychology Association released an article to further explain and give insight into Tiger Parenting. Tiger Parenting can be defined as “those who practice positive and negative parenting strategies simultaneously.” Tiger Parenting, to some level, is primarily seen in Asian families. It has an unhealthy restriction social interaction and development with other children. For example, Amy Chua’s daughters were not allowed to “watch TV, play computer games, have sleepovers or play dates.” Academically, Tiger Parents find anything less than an A to be disgraceful. It has extreme levels of psychological discipline. For example, Amy Chua’s daughter mentions, in the Today Show article of remembering her mother, “threatening to throw my toys...
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...Mapping The % Tiger's Brand DNA 36 Tiger Beer In order brand DNA. for any brand to be successful, it must have a strong brand DNA. The brand DNA simply refers to the things that make a brand all the clutter in the market. What is the sign of a strong brand DNA in any brand? If you take away the logo and the name, and people are still able to tell that it is your brand, then that is a strong For example, part of the Coca-Cola DNA is the patented Coke bottle design and the fact that Coke is "The Real Thing". These are the elements that make Coca-Cola what it is. Take away the logo and the brand name, and you can still tell that it is Coca-Cola. Although Tiger Beer has not gotten to the stage where Coca-Cola is now, it has still done a great job of creating and developing the Tiger Beer brand DNA. In this chapter, we will look at the things that make a Tiger Beer... a Tiger Beer. These are the things that define the Tiger Beer brand. They are the strands that make up the Tiger Beer brand DNA. what it is. A strong brand DNA will allow the brand to cut through THE BUILDING BLOCKS THE CATEGORY—LAGER Tiger Beer is a lager beer There is no Tiger Beer Lite, Tiger Beer Ice, Tiger Beer Draft, Tiger Beer Strong Brew, Tiger Beer Pilsner or Tiger Beer Dark. Tiger Beer stands for lager and nothing else. It is closely identified with that category of being a lager beer. Category is what defines the brand, not the other way around. People are not interested in the brand...
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...is also the national flower of India, and is very often associated with yoga. It’s an aquatic plant with broad, waxy leaves and a red, pink, or white fragrant and symmetrically-petaled flower that grow in ponds or other types of shallow bodies of water. Lotuses have a number of symbolic or metaphorical meanings, the most common being enlightenment. Other meanings include divinity, fertility, wealth, and knowledge. The seeds of lotus plants are often used in Indian medicines that relieve kidney, spleen or heart ailments. The Indian lotus flower is the national flower of India, and has many associations with the Hindu gods, religion and literature. Its seeds, leaves, flowers and roots are all edible, and are frequently used in a variety of Asian foods and medicines. Commonly mistaken for a water lily, the lotus flower is a separate species. The roots of the lotus grow in the soil of ponds and river bottoms, while the leaves and flowers float on top of the water's surface. The leaves of the lotus are large, green and paddle-shaped and can grow over 20 inches high. The flowers, always pink, have multiple layers of long, blade-shaped petals and can grow up to 8 inches across. The plant itself can grow up to 60 inches high and can spread up to 9 feet horizontally. Jasmine: Jasmine is a...
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...Endangered Tigers Today wild tigers exist in Eastern Russia, China, Vietnam, Cambodia, North Korea, Thailand, Malaysia, Indonesia, Bhutan, India and Nepal. In order to live in the wild, tigers need water to drink, animals to hunt, and vegetation in which to hide. As the mountains, jungles, forests, and long grasses that have long been home to tigers disappear, so too, do tigers. Agricultural expansion, timber cutting, new roads, human settlement, industrial expansion and hydroelectric dams push tigers into smaller and smaller areas of land. These small areas of forests are surrounded by rapidly growing and relatively poor human populations, including increasing numbers of illegal hunters. Tigers compete with an expanding human population and industry for land and food, many tigers are killed by poachers who sell the tiger’s body parts as ingredients for traditional Chinese medicines. If these trends continue, the wild tiger may evolve from being an endangered species and off the endangered species list to become an extinct species. Without wilderness, the wild tiger will not survive. If the world is not careful, one of the beautiful creatures on the planet will become extinct. Everyday more and more tigers are being slaughtered for their skin, bones, meat, and other organs to produce clothes, home décor, medicine, food and even alcohol. For example bones are soaked in alcohol to make wine, and ground up bone mixed with herbs is believed to relieve pain such as arthritis...
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