China's Growth Essay

Submitted By reneedmj1
Words: 764
Pages: 4

Renee Matthews-Jackson, June 12, 2013

What Makes Asian Growth Phenomenal?

There are three major reasons why there is such an escalation of growth in Eastern Asia, of those three; economics and marketing/trade is the underlying influential that advances the other two prominent areas; population, and social-political dynamics into a perpetual forge ahead. This fifty year progression in Eastern Asia is causing a continuous growth phenomenon that entices scholars, scientists, and the just plain curious… to publish papers and pick through reasons why China, Japan, Hong Cong, Tokyo, and other nations in that region are expanding in every segment of life that counts. If indeed a nation wants a vibrant faction of healthy, intelligent, working citizens’ accommodations must be made, and the people must prosper. The consensus seems to be, in what is known as “the four tigers” area, a growth that is spellbinding to most developed countries. “Since 1960 Asia, the largest and most populous of the continents has become richer faster than any other region of the world.” Hints of capitalism appear to be a force of nature in that part of the world and, American capitalism is not keeping afoot with Asian’s mocking. An entrepreneurial spirit has also been encouraged of late and the private sector is an excellent contributor in this “miraculous” economic growth spurt. Asia has always had its market and established places to sale wares, foods, and goods by private citizens. Without a thriving economy and marketing that seduces the consumer to visit and spend, and work hard to produce and re-produce, the society would begin to regress in its social structure, and the engine that keeps finances moving would have no option but to recognize that the worker is also the consumer, the one who is moving money, and would rather not falter as primary investor. Macroeconomic stability has helped contribute to their high growth. Past research on economic development has suggested an important role for capital investment in financial expansion, and a great portion of China's current growth is accredited to capital ventures that have made the country more industrious. Even more importantly, they have avoided major macroeconomic crises that cause quick reductions in collective demand and venture is less costly than to have to recapture, once it has slipped. East Asian economies' sensible and consistent pursuit of macroeconomic stability is the best sustaining factor for believing that the economy is what has made growth in East Asia possible to its present extent. Export is one of the greatest financial steps to growth and Eastern Asian is a winning export region of the world. “On the trade side, governments across the region have invested heavily in infrastructure and logistics, and East Asian countries have the most efficient airports and seaports in the world.” Since the 1960’s the four tigers have been developing their export standings on the world stage with much success. Even after the financial crisis of 199-7-98 and the recession of 2001, Asia has come back strong due to their…