Tiger Cub Economies

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The Tiger Cub Economies (yellow) consist of five countries, Indonesia, Malaysia, Philippines, Thailand, Vietnam. Also shown are the original tigers (in red). Novos Tigres Asiaticos.png
The Tiger Cub Economies (yellow) consist of five countries, Indonesia, Malaysia, Philippines, Thailand, Vietnam. Also shown are the original tigers (in red).

Tiger Cub Economies collectively refer to the economies of the developing countries of Indonesia, Malaysia, the Philippines, Thailand and Vietnam, [1] the five dominant countries in Southeast Asia. [2] [3]

Contents

Overview

Tiger Cub Economies are so named because they attempt to follow the same export-driven model of technology and economic development already achieved by the rich, high-tech, industrialized, and developed countries of South Korea and Taiwan, along with the wealthy financial centers of Hong Kong and Singapore, which are all collectively referred to as the Four Asian Tigers. [4] [5] [6] [7] Young tigers are referred to as "cubs", the implication being that the five newly industrialized countries [8] who make up the Tiger Cub Economies are rising Tigers. In fact, four countries are included in HSBC's list of top 50 economies in 2050, [9] while Indonesia, Vietnam and the Philippines are included in Goldman Sachs's Next Eleven list of high potential economies because of their rapid growth and large population.

Overseas Chinese entrepreneurs played a major prominent role in the development of the region's private sectors. These businesses are part of the larger bamboo network, a network of overseas Chinese businesses operating in the markets of developing countries like Malaysia, Indonesia, Thailand, Vietnam, and the Philippines that share common family and cultural ties. [10] China's transformation into a major economic power in the 21st century has led to increasing investments in Southeast Asian countries where the bamboo network is present. [11]

Economies of Southeast Asia

Developing economies of the Tiger Cubs

Developed economies of the Four Asian Tigers

See also

Related Research Articles

Economy of the Philippines National economy

The economy of the Philippines is the world's 36th largest economy by nominal GDP according to the 2019 estimate of the International Monetary Fund's statistics, it is the 13th largest economy in Asia, and the 3rd largest economy in the ASEAN after Indonesia and Thailand. The Philippines is one of the emerging markets and is the sixth richest in Southeast Asia by GDP per capita values, after the regional countries of Singapore, Brunei, Malaysia, Thailand and Indonesia.

Southeast Asia Subregion of Asia

Southeast Asia or Southeastern Asia is a subregion of Asia, consisting of the regions that are geographically south of China, east of the Indian subcontinent and north-west of Australia. Southeast Asia is bordered to the north by East Asia, to the west by South Asia and the Bay of Bengal, to the east by Oceania and the Pacific Ocean, and to the south by Australia and the Indian Ocean. The region is the only part of Asia that lies partly within the Southern Hemisphere, although the majority of it is in the Northern Hemisphere. In contemporary definition, Southeast Asia consists of two geographic regions:

  1. Mainland Southeast Asia, also known historically as Indochina, comprising Cambodia, Laos, Myanmar, Peninsular Malaysia, Thailand and Vietnam.
  2. Maritime Southeast Asia, also known historically as Nusantara, the East Indies, or the Malay Archipelago, comprising the Andaman and Nicobar Islands (India), Ashmore and Cartier Islands (Australia), Brunei, Christmas Island (Australia), the Cocos (Keeling) Islands (Australia), East Malaysia, East Timor, Indonesia, the Philippines and Singapore.
Economy of Taiwan National economy

The economy of Taiwan is a developed capitalist economy that ranks as the seventh largest in Asia and 22nd-largest in the world by purchasing power parity (PPP). It is included in the advanced economies group by the International Monetary Fund and gauged in the high-income economies group by the World Bank. Taiwan is the most technologically advanced computer microchip maker in the world.

ASEAN International organisation of Southeast Asian countries

The Association of Southeast Asian Nations is a regional intergovernmental organization comprising ten countries in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.

Four Asian Tigers Taiwan, South Korea, Hong Kong & Singapore – they underwent industrialization and maintained high growth rates in the 1960s and 1990s

The Four Asian Tigers refers to the economies of Hong Kong, Singapore, South Korea and Taiwan. Between the early 1960s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year.

Newly industrialized country Developing country with high economic growth and recent industrialization and urbanization

The category of newly industrialized country (NIC) is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represent a subset of developing countries whose economic growth is much higher than other developing countries; and where the social consequences of industrialization, such as urbanization, are reorganizing society.

1997 Asian financial crisis Financial crisis of many Asian countries during the second half of 1997

The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.

Chinatowns in Asia

Chinatowns in Asia are widespread with a large concentration of overseas Chinese in East Asia and Southeast Asia and ethnic Chinese whose ancestors came from southern China - particularly the provinces of Guangdong, Fujian, and Hainan - and settled in countries such as Brunei, Cambodia, East Timor, Indonesia, India, Laos, Malaysia, Myanmar, the Philippines, Singapore, Sri Lanka, Thailand, Vietnam, Japan and Korea centuries ago—starting as early as the Tang Dynasty, but mostly notably in the 17th through the 19th centuries, and well into the 20th century. Today the Chinese diaspora in Asia is largely concentrated in Southeast Asia however the legacy of the once widespread overseas Chinese communities in Asia is evident in the many Chinatowns that are found across East, South and Southeast Asia.

The economy of Asia comprises more than 4.5 billion people living in 49 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, starting from the Japanese economic miracle (1950–1990), Miracle on the Han River (1961–1996) in South Korea, economic boom (1978–2013) in China and economic boom in India (1991–present).

A tiger economy is the economy of a country which undergoes rapid economic growth, usually accompanied by an increase in the standard of living. The term was originally used for the Four Asian Tigers as tigers are important in Asian symbolism, which also inspired the Tiger Cub Economies. The Asian Tigers also inspired other economies later on; the Anatolian Tigers in the 1980s, the Gulf Tiger (Dubai) in the 1990s, the Celtic Tiger in 1995–2000, the Baltic tigers in 2000–2007, and the Tatra Tiger (Slovakia) in 2002–2007.

Economic miracle is an informal economic term for a period of dramatic economic development that is entirely unexpected or unexpectedly strong. Economic miracles have occurred in the recent histories of a number of countries, often those undergoing an economic boom, or described as a tiger economy.

Japanese foreign policy toward Southeast Asia, the diverse region stretching from South Asia to the islands in the South Pacific Ocean, was in part defined by Japan's rapid rise in the 1980s as the dominant economic power in Asia. The decline in East-West and Sino-Soviet tensions during the 1980s suggested that economic rather than military power would determine regional leadership. During the decade, Japan displaced the United States as the largest provider of new business investment and economic aid in the region, although the United States market remained a major source of Asia-Pacific dynamism. Especially following the rise in value of the yen relative to the US dollar in the late-1980s, Japan's role as a capital and technology exporter and as an increasingly significant importer of Asian manufactured goods made it the core economy of the Asia-Pacific region.

East Asian cultural sphere Grouping of countries and regions that were historically influenced by the culture of China

The East Asian cultural sphere, or the Sinosphere, consists of nations in East and Southeast Asia that were historically influenced by the Chinese culture, including literary traditions and religions. Other names for the concept include the Sinic/Sinitic world, the Confucian world, the Taoist world, and the Chinese cultural sphere, though the last name is also used to refer particularly to the Sinophone community.

Developmental state, or hard state, is a term used by international political economy scholars to refer to the phenomenon of state-led macroeconomic planning in East Asia in the late 20th century. In this model of capitalism, the state has more independent, or autonomous, political power, as well as more control over the economy. A developmental state is characterized by having strong state intervention, as well as extensive regulation and planning. The term has subsequently been used to describe countries outside East Asia that satisfy the criteria of a developmental state. Botswana, for example, has warranted the label since the early 1970s. The developmental state is sometimes contrasted with a predatory state or weak state.

MTV (Southeast Asian TV channel)

MTV is an Asian music pay-television channel that was originally launched on 15 September 1991 as a music channel exclusively on STAR TV, and then on 3 May 1995 as a standalone pay TV channel. It is owned by ViacomCBS Networks EMEAA.

The East Asian model is an economic system where the government invests in certain sectors of the economy in order to stimulate the growth of new industries in the private sector. It generally refers to the model of development pursued in East Asian economies such as Hong Kong, Macau, Japan, South Korea and Taiwan. It has also been used to classify the contemporary economic system in Mainland China since the Deng Xiaoping's economic reforms during the late 1970s.

ASEAN–China Free Trade Area

The ASEAN–China Free Trade Area (ACFTA), also known as China–ASEAN Free Trade Area is a free-trade area among the ten member states of the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China.

Celestial Tiger Entertainment

Celestial Tiger Entertainment (CTE), formerly Tiger Gate Entertainment, is a diversified media company based in Hong Kong that operates pay television entertainment channels in Asia and oversees Lionsgate distribution rights in Greater China and Southeast Asia. It is a joint venture co-owned by Saban Capital Group, Lionsgate and Celestial Pictures.

Bamboo network

The "Bamboo network" is a term used to conceptualize connections between businesses operated by the Overseas Chinese community in Southeast Asia. The Overseas Chinese business networks constitute the single most dominant private business groups outside of East Asia. It links the Overseas Chinese business community of Southeast Asia, namely Myanmar, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, and Singapore with the economies of Greater China. Ethnic Chinese play a leading role in Southeast Asia's business sector as they dominate Southeast Asia's economy today and form the economic elite across all the major Southeast Asian countries. The Chinese have been an economically powerful and prosperous minority for hundreds of years and today exert a powerful economic influence throughout the region. Overseas Chinese wield tremendous economic clout over their indigenous Southeast Asian majority counterparts and play a critical role in maintaining the regions aggregate economic vitality and prosperity. Since the turn of the 21st century, postcolonial Southeast Asia has now become an important pillar of the Overseas Chinese economy as the bamboo network represents an important symbol manifesting itself as an extended international economic outpost of Mainland China.

The East Asian Bureau of Economic Research is a forum for economic research and analysis of the major issues facing the economies of East Asia.

References

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  2. Rod Davies (16 June 2002). "Asian Marketing, Market Research and Economic Capsule Review". Asia Market Research. Retrieved 20 February 2013.
  3. HOMLONG, Nathalie; SPRINGLER, Elisabeth. Business-Handbuch Vietnam: Das Vietnamgeschäft erfolgreich managen: Kulturverständnis, Mitarbeiterführung, Recht und Finanzierung. Wiesbaden: Springer Gabler, 2013.
  4. https://www.economist.com/business/2018/04/05/tsmc-is-about-to-become-the-worlds-most-advanced-chipmaker
  5. https://www.bloomberg.com/news/articles/2018-11-28/intel-s-chipmaking-throne-is-challenged-by-a-taiwanese-upstart
  6. https://in.pcmag.com/chipsets-processors/120341/tsmc-set-to-beat-intel-to-become-the-worlds-most-advanced-chipmaker
  7. https://www.mirror.co.uk/news/world-news/taiwanese-navy-accidentally-fires-nuclear-8730387
  8. "The East Asian Miracle Economic Growth and Public Policy". World Bank. 30 September 1993. Retrieved 20 February 2013.
  9. Kevin Voigt (12 January 2012). "World's top economies in 2050 will be..." CNN . Retrieved 20 February 2013.
  10. Murray L Weidenbaum (1 January 1996). The Bamboo Network: How Expatriate Chinese Entrepreneurs are Creating a New Economic Superpower in Asia. Martin Kessler Books, Free Press. pp. 4–8. ISBN   978-0-684-82289-1.
  11. Quinlan, Joe (November 13, 2007). "Insight: China's capital targets Asia's bamboo network". Financial Times.