Kyaw Win - Forty Years of Asian Economics

Starting from the 1960s, the economic development of modern Asia has lasted for more than four decades. During this period, it has shown "stunning growth" (from the 1960s to the 1980s) and also faced "economic crisis" (1997-98). When the post-crisis period after 2000 AD arrived, it was not only recovering but also heading towards another "stunning" one. In other words, it has experienced ups and downs, good and bad, and has matured.

Here we come to the point where we will have to reexamine the famous 'Asian Basket Study' of the "Amazing Period". The "Asian Basket Study" includes the following features.

(1) The main focus was on the four Asian tigers and their offspring.

(2) The philosophical impetus behind the Asian wonder is Asia.

They thought it would be worth it.

(3) Asian economies are booming.

It has a distinct identity, not related to the "new economy".

(4) Closely linked between the government and the private sector

The Asian corporate image is in an important room.

Now, all four of these characteristics have to be weighed against actual events.

Let's review the first point and see how it works.

An emerging China and a resurgent Japan

The second point is the "Asian value"

It also says, "The new question of Confucius or Buddha?"

The answer is coming. Which culture is more suitable for the modern era?

The question arises: Will it happen? In post-crisis Asia

The new generation of young 'anthropes' who have taken a prominent place

With its role and potential, the third distinction is also the rice mill.

They are looking. Similarly, with the crisis, the buffalo crossing has become a watershed.

The plot of "Taikong Nigon" also challenges the originality of the story.

The new study has broadened its scope, and has even led to the question of whether or not to include the basket. There are those who call for Asia to be 'taken out of the basket', while others ask, "Isn't the world really just one big basket?"

Four Decades of Asian Economy

Forty years of Asian economics

From the 1961s to the 2000s

"As soon as the big truck comes down, a new drama begins."

A beginning has begun. History has its end.

It's not gone, it's more history.

"It's just a matter of moving on to a new scene."

Kishomaru Bubani

(Singaporean, political analyst)

Asia is a vast geographical region and a diverse socio-economic landscape. Even among Asian countries, they are so diverse in terms of ethnicity, religion, and culture that they are often referred to as the "Eastern Balkans." Moreover, they have not all climbed the ladder of development at the same time or in the same way. Therefore, when it comes to talking about Asia, we learn by making baskets. Here too, the baskets are different. One school, one mantra, so it goes without saying that there are many baskets.

In this paper, we will look at three baskets based on development levels and socioeconomic status.

(1) First basket

This is a separate study of Japan. Postwar period.

The first developed Asian country. (This paper is about Japan.)

I won't say more. I'll focus on the remaining two baskets.)

(2) Second basket.

South Korea, Singapore, Hong Kong (China), Taiwan (China)

The first four tigers included, and Indonesia, Malaysia, Thailand, and the Philippines

(More tiger cubs with. Second-tier developed countries.)

(3) The third basket.

Including China, India, Vietnam, Laos, Cambodia, and Myanmar.

The third level is developed countries and developing countries.

Indeed, in the past forty years, the Asian economy has been dominated by countries in the second and third

It is about the long march of development.

Ten small models

The journey of modern Asia's economic development has spanned some forty years, starting from the early 1960s, when the Asian Tigers were first conceived. During this long period, Asia has experienced both good and bad experiences, and has experienced three periods (in other words, three major turning points) of completely different nature and character: the "miracle period" (1960-1996), the "crisis period" (1997-98), and the "post-crisis period" (or "second miracle period") (1998-2004).

In such a long period, it is not possible to fully describe all these experiences in this paper. Therefore, the 1990s, which can reflect all three periods, are considered as a small sample of ten years. The first part of this period (1991-1996) falls under the period of great wonder. The high “growth rate” (percentage change in GDP) of most countries in the region is a clear sign. However, after 1996, the downward trend began and led to the Asian economic crisis of 1997/98. The collapse of financial markets and real estate, the collapse of the Asian corporate system, and the flight of foreign investment are all clear signs. By 1999, most countries had recovered and entered the post-crisis period. The Internet boom, the revival of the stock market, and changes in economic structure are clear signs. It was during this third period that the Chinese and Indian economies came to the fore, what is sometimes referred to as the Second Great Depression.

This is the ups and downs of the Asian economy over the past forty years.