The Economic Rise of East Asia: Development Paths of Japan, South Korea, and China

This book analyzes and compares the development paths and strategies of Japan, South Korea, and China, highlighting their factors for prolonged high-speed economic growth and their subsequent "cool-downs." It also illustrates how their strategies served as role models for other developing countries and offers insights into the East Asian development model.

Format: Paperback / softback
Length: 350 pages
Publication date: 11 December 2022
Publisher: Springer Nature Switzerland AG

In the face of the escalating global economic significance of East Asia, this comprehensive book delves into an in-depth analysis and comparative study of the remarkable development paths and strategies adopted by Japan, South Korea, and China. It explores both the enabling factors that facilitated these countries' prolonged periods of high-speed economic growth and the subsequent "cool-downs" they experienced. Furthermore, the book showcases how these development strategies served as valuable models for one another, offering valuable insights for current and future developing countries seeking to emulate their success. With a focus on the East Asian development model, this book is a valuable resource for scholars and students of economics and development studies.

Japan, South Korea, and China have emerged as dominant economic forces in the world, with their unique development paths and strategies contributing to their remarkable growth. This book aims to analyze and compare these countries' development paths, focusing on the factors that enabled their prolonged periods of high-speed economic growth and the reasons for their subsequent "cool-downs."

One of the key factors that contributed to the growth of Japan, South Korea, and China was their commitment to investment in education and infrastructure. These countries invested heavily in education, particularly in science and technology, which enabled their workforce to become highly skilled and productive. They also invested in infrastructure, such as highways, railways, and ports, which facilitated trade and economic activity.

Another factor that contributed to their growth was their open market policies. These countries adopted policies that encouraged foreign investment and trade, which attracted capital and technology from around the world. They also implemented policies that promoted competition and innovation, which encouraged companies to strive for excellence and efficiency.

Despite their success, Japan, South Korea, and China have also faced challenges in recent years. One of the biggest challenges is the aging population, which has put pressure on their social welfare systems and economic growth. Another challenge is the rising cost of healthcare, which has contributed to economic instability and social unrest.

In conclusion, this book provides a comprehensive analysis and comparison of the development paths and strategies of Japan, South Korea, and China. It highlights the factors that enabled their prolonged periods of high-speed economic growth and the challenges they face in the future. By examining these countries' success stories, this book offers valuable insights for current and future developing countries seeking to emulate their success.

Weight: 551g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030871307
Edition number: 1st ed. 2021