The economy of Japan is a highly developed/advanced social market economy, often referred to as an East Asian model. It is the fourth-largest economy in the world by nominal GDP and also the fourth-largest economy by purchasing power parity (PPP).
The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided.
Science and technology in China have developed rapidly during the 1980s to 2010s, and major scientific and technological achievements have been made since the 1980s. From the 1980s to the 1990s, the Chinese government successively launched the "863 Plan" and the "Strategy for Rejuvenating the Country through Science and Education", which greatly promoted the development and progress of China's science and technology. The Chinese government has placed emphasis through funding, reform, and societal status on science and technology as a fundamental part of the socio-economic development of the country as well as for national prestige.
Itochu Corporation is a Japanese corporation based in Umeda, Kita-ku, Osaka and Aoyama, Minato, Tokyo.
UTStarcom (UT斯达康) is a Chinese global telecom infrastructure provider headquartered in Beijing. The company develops and supplies a broad range of telecommunication devices to communications service providers and network operators including fixed and mobile network operators, as well as to enterprises. Traditionally, the company had focused on markets in China, Japan, and India, but has expanded to markets in Africa, Central and Latin America, and the Middle East.
The economy of Asia comprises about 4.7 billion people living in 50 different nations. Asia is the fastest growing economic region, as well as the largest continental economy by both GDP Nominal and PPP in the world. Moreover, Asia is the site of some of the world's longest modern economic booms.
In justifying opening up and the series of economic reforms that ensued in China, Deng Xiaoping referred to Karl Marx and his theories, which predicted that nations need to undergo urbanization and a stage of capitalism for a natural socialist transition. One of the most renowned reforms under Deng was establishing four "special economic zones" along the Southeastern coast of China, with Shenzhen, Shantou, and Zhuhai located in Guangdong province and Xiamen located in Fujian province. The four aforementioned special economic zones were all established from 1980 to 1981. As of 2024, there have been 3 additional special economic zones. In 1988, Hainan became the fifth "SEZ". In 1990, Pudong district in Shanghai became the sixth "SEZ". In 2009, Binhai district in Tianjin became the seventh "SEZ". Special economic zones (SEZs) in mainland China are granted more free market-oriented economic policies and flexible governmental measures by the government of China, compared to the planned economy elsewhere.
The pharmaceutical industry is one of the leading industries in the People's Republic of China, covering synthetic chemicals and drugs, prepared Chinese medicines, medical devices, apparatus and instruments, hygiene materials, packing materials, and pharmaceutical machinery. China has the second-largest pharmaceutical market in the world as of 2017 which is worth US$110 billion. China accounts for 20% of the world's population but only a small fraction of the global drug market. China's changing health-care environment is designed to extend basic health insurance to a larger portion of the population and give individuals greater access to products and services. Following the period of change, the pharmaceutical industry is expected to continue its expansion.
The Taiwan Miracle or Taiwan Economic Miracle refers to Taiwan's rapid economic development to a developed, high-income country during the latter half of the twentieth century.
H&Q Asia Pacific (H&QAP) is an Asian private equity firm founded in 1986 by Ta-lin Hsu as a branch of the investment bank Hambrecht & Quist. It is one of the oldest and most established private equity firms in the Asia-Pacific region. It has offices located in Silicon Valley, Shanghai, Hong Kong, Taipei, Tokyo, Seoul, Manila, and Singapore.
The automotive industry in China has been the largest in the world measured by automobile unit production since 2008. Since 2009, annual production of automobiles in China accounted for more than 32% of worldwide vehicle production, exceeding both that of the European Union and that of the United States and Japan combined. As of at least 2024, China is the world's largest automobile market both in terms of sales and ownership.
China's banking sector had CN¥319.7 trillion in assets at the end of 2020. The "big four/five" state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, and the Agricultural Bank of China, all of which are among the largest banks in the world As of 2018. The Bank of Communications is sometimes included. Other notable big and also the largest banks in the world are China Merchants Bank and Ping An Bank.
Trade is a key factor of the economy of China. In the three decades following the dump of the Communist Chinese state in 1949, China's trade institutions at first developed into a partially modern but somewhat inefficient system. The drive to modernize the economy that began in 1978 required a sharp acceleration in commodity flows and greatly improved efficiency in economic transactions. In the ensuing years economic reforms were adopted by the government to develop a socialist market economy. This type of economy combined central planning with market mechanisms. The changes resulted in the decentralization and expansion of domestic and foreign trade institutions, as well as a greatly enlarged role for free market in the distribution of goods, and a prominent role for foreign trade and investment in economic development.
The economy of East Asia comprises 1.6 billion people living in six different countries and regions. The region includes several of the world's largest and most prosperous economies: Taiwan, Japan, South Korea, China, Hong Kong, and Macau. It is home to some of the most economically dynamic places in the world, being the site of some of the world's most extended modern economic booms, including the Taiwan miracle (1950–present) in Taiwan, Miracle on the Han River (1974–present) in South Korea, Japanese economic miracle (1950–1990) and the Chinese economic miracle (1983–2010) in China.
China has an upper middle income, developing, mixed, socialist market economy incorporating industrial policies and strategic five-year plans. It is the world's second largest economy by nominal GDP, behind the United States, and the world's largest economy since 2016 when measured by purchasing power parity (PPP). Due to a volatile currency exchange rate, China's GDP as measured in dollars fluctuates sharply. China accounted for 19% of the global economy in 2022 in PPP terms, and around 18% in nominal terms in 2022. Historically, China was one of the world's foremost economic powers for most of the two millennia from the 1st until the 19th century. The economy consists of public sector enterprise, state-owned enterprises (SOEs) and mixed-ownership enterprises, as well as a large domestic private sector and openness to foreign businesses in a system. Private investment and exports are the main drivers of economic growth in China; but the Chinese government has also emphasized domestic consumption.
East Asia is a region of Asia, which is defined in both geographical and ethno-cultural terms. The modern states of East Asia include China, Japan, Mongolia, North Korea, South Korea, and Taiwan. Hong Kong and Macau, two small coastal cities located in the south of China, are autonomous regions under Chinese sovereignty. The economies of Japan, South Korea, China, Taiwan, Hong Kong, and Macau are some of the world's largest and most prosperous economies. East Asia borders Siberia and the Russian Far East to the north, Southeast Asia to the south, South Asia to the southwest, and Central Asia to the west. To the east is the Pacific Ocean and to the southeast is Micronesia.
The East Asian model, pioneered by Japan, is a plan for economic growth whereby the government invests in certain sectors of the economy in order to stimulate the growth of specific industries in the private sector. It generally refers to the model of development pursued in East Asian economies such as Japan, South Korea, Hong Kong and Taiwan. It has also been used by some to describe the contemporary economic system in Mainland China after Deng Xiaoping's economic reforms during the late 1970s and the current economic system of Vietnam after its Đổi Mới policy was implemented in 1986. Generally, as a country becomes more developed, the most common employment industry transitions from agriculture to manufacturing, and then to services.
Shaul Nehemia Eisenberg was an Israeli businessman and billionaire tycoon.
Chatime is a Taiwanese global franchise teahouse chain based in Zhubei. Chatime is the largest teahouse franchise in the world. Its expansion and growth model is through franchising. It operates 2500+ outlets in 38 countries. In 2006, it opened its first store outside of Taiwan in California, United States and it has since expanded to China, Malaysia, Canada, Bangladesh, Indonesia, Philippines, Cambodia, Thailand, United Kingdom, United States, Australia, New Zealand, Maldives, India, Ireland, United Arab Emirates, Japan, Mongolia, Lebanon, Mauritius and South Korea, Switzerland among others now.
The 2015-2016 Chinese stock market turbulence began with the popping of a stock market bubble on 12 June 2015 and ended in early February 2016. A third of the value of A-shares on the Shanghai Stock Exchange was lost within one month of the event. Major aftershocks occurred around 27 July and 24 August's "Black Monday". By 8–9 July 2015, the Shanghai stock market had fallen 30 percent over three weeks as 1,400 companies, or more than half listed, filed for a trading halt in an attempt to prevent further losses. Values of Chinese stock markets continued to drop despite efforts by the government to reduce the fall. After three stable weeks the Shanghai index fell again by 8.48 percent on 24 August, marking the largest fall since 2007.
