East Asia has the most successful regional economy. Countries like Japan, Hong Kong, China, Taiwan and South Korea exhibit some of the largest prosperous economies. Different factors have managed to assist these countries in having high economic growth. These factors include; favorable political environment, abundance of natural resources and availability of low cost labor.
East Asian countries appear to exhibit rapid and high learning capabilities. These countries appear to master skills, new technologies and various new scientific discoveries. These countries use these skills and discoveries in enhancing their productions. East Asian countries also exhibit large and growing market for their goods and services (Roupp 71).
For the past four decades, the economies of East Asian countries have experienced rapid growth. Among the countries of East Asia, nine of them experienced an average growth of not less than 4.6 per cent. This growth appeared interrupted by the Asian financial crisis in the year 1997 to the year 1998. The growth rate dropped from 5.5 per cent to 2.8 per cent. Korea, Malaysia, Indonesia, Thailand and the Philippines appear as among the countries that recorded the lowest growth rate of up to 2.0 per cent. Their growth rate remained at 3.0 per cent from the year 2000 to the year 2005 (Hoerder 33).
One of East Asian countries is Cambodia. Cambodia experienced a series of isolations. After the war that destroyed the nation, she reunited under the monarch in the year 1993. Since the reunion, Cambodia has experienced a rapid economic growth. In the year 2005, East Asia acquired more than one third of the world’s general population. It has an estimate of up to 2,076 million people. In the year 2010, the population growth moved to 2,155 million people thus exhibiting a 0.79 per cent per annum growth rate (Lock 21).
In china, an artist by the name Chen Sisi has released a balled titled ‘Chinese dream’. This only means that she happens to be doing her part in barraging the propaganda unveiled by the communist party (Hsia 49).
Works Cited
Hoerder, Dirk. Cultures in Contact: World Migrations in the Second Millennium. Duke
Hsia, Chih Tsing. A History of Modern Chinese Fiction. Indiana: Indiana University, 1999. Print.
Lock, Margaret M. East Asian Medicine in Urban Japan. California: University of California,
1984. Print.
Roupp, Heidi. Teaching World History. New York: M.E. Sharpe, 1997. Print.
