According to the Asian Development Bank (ADB), Malaysia has the potential to rise as one of the seven drivers of the Asian economy by 2050 led by China, India, Indonesia, Japan, South Korea, Malaysia and Thailand (Malaysian Insider, 2011).
It is important to realize that
these growth rates should slow as the countries catch up.
An area in which East Asia is investing much of its GDP is in physical
capital and education.
The impact of the economic downturn in east asia on …
The standards of education for these countries
have improved as rapidly as their economies.
Another factor which has helped the long-term economic growth of these
East Asian countries is the global market.
Global Financial Crisis — Global Issues
If this growth continues, South Korea and
Taiwan might take away America's distinction as the world's richest country.
This is a result of several economic and political factors.
The pace of economic development, growth in world trade and communications,
and the investment in physical capital and education have all played a role in
the sudden rise of the East economies.
One factor which has helped the long-term economic growth of South Korea
and Taiwan is the pace of economic development.
1997 Asian financial crisis - Wikipedia
Right now, the outlook is good for the island’s economy, which is very different to the situation Yang’s predecessor Perng Fai-nan faced when he took over in the midst of the 1998 Asian financial crisis. Taiwanese officials have raised their forecast for economic growth to 2.4 percent for this year, and economists expect the central bank to raise its benchmark interest rate to 1.5 percent in the fourth quarter.
Economic Research - Federal Reserve Bank of San Francisco
What took Europe almost a century, the East Asian tigers (Hong Kong, Singapore, South Korea, and Taiwan) and the newly industrializing economies (Indonesia, Malaysia, and Thailand) accomplished in a matter of decades, which led many to believe in an East Asian miracle.