Four economies in East Asia—the Republic of Korea, Hong Kong, Singapore, and Taiwan (the Republic of China)—exhibited such rapid economic growth during the 1965 to 1990 period that they were termed the “Four Tigers” by many observers. Also close on their heels, the economies of three newly industrializing Asian nations—Indonesia, Malaysia, and Thailand—have grown more than twice as fast as the rest of Asia, roughly three times as fast as Latin America and South Asia, and 25 times faster than Sub-Saharan Africa.1 However, no assessment of Asian growth and productivity would be complete without including the performance of China, which has achieved annual double-digit growth during the past decade, so much so that 160 million Chinese have emerged from poverty.
KeywordsMinimum Wage Labor Relation Labor Movement Rapid Economic Growth State Enterprise
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