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Developed Economies of Asia

In: World Economy and International Business

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  • Sofia Rebrey

    (MGIMO University)

Abstract

The chapter examines the East Asian economic systems of five advanced Asian economies: Japan, the Republic of Korea, Hong Kong (special administrative region of People’s Republic of China), Singapore, and Taiwan (province of People’s Republic of China). Having formed an alternative to mainstream Western development system, these economies managed to catch up with Western developed economies in a few decades and enter the group of developed post-industrial economies that are at the forefront of the Fourth Industrial Revolution. The chapter examines the main factors contributing to the formation of their economic systems, the structure and dynamics of socio-economic development and the main challenges to sustainable development in the advanced Asian economies.

Suggested Citation

  • Sofia Rebrey, 2023. "Developed Economies of Asia," Contributions to Economics, in: Alexander Bulatov (ed.), World Economy and International Business, pages 337-360, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-20328-2_17
    DOI: 10.1007/978-3-031-20328-2_17
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