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Development and Health Differences NICs and Asian Tiger Economies [Date] Today I will: - Learn about what NICs are and be able to explain the rapid industrialisation of the Asian Tiger Economies Development and Health Differences Newly Industrialised Countries (NICs) are countries whose economies have not yet reached Developed Country status but have, in a macroeconomic sense, outpaced their developing counterparts. Development and Health Differences South Korea Taiwan Hong Kong Singapore The countries of Eastern Asia have seen a massive increase in levels of industrialisation and wealth since the 1960s. They are now called Newly Industrialised Countries (NICs). The greatest increase in development has been in South Korea, Taiwan and Singapore which became known as the “Three Tigers”. Development and Health Differences Newly industrialised countries (NICs) are those in which more that one third of the GDP is from industry. Asian Tiger Economies are the four Asian economies which have seen a rapid change in development. Development and Health Differences Environmental Interactions Textbook Work Tasks: Read pages 168 to 169 1. 2. 3. 4. 5. Make a list of the NICs Define the term NIC Why have these countries developed so quickly? Why have the NICs been so successful? (Write your ideas in a bullet point list) Read the “Case Study on Singapore” from page 171 – 173. Sum up the information about Singapore in a paragraph. Development and Health Differences Life expectancy: 77 years (men), 84 years (women) Case Study: South Korea Population: 48.4 million (World Bank, 2011) Capital: Seoul Development and Health Differences Development and Health Differences Since the 1970s South Korea has transformed from one of the poorest countries in Asia to one of the richest. They do not have many natural resources, they have little natural resources (e.g. typhoons) and having border conflicts with North Korea. It has become: - 1st in the world for shipbuilding - 2nd in the world for steelmaking - 3rd in the world for car manufacturing e.g. Hyundai and Kia - 3rd for electrical goods e.g. LG and Samsung Development and Health Differences Why has South Korea Industrialised so quickly? It has an educated workforce, able to work in high tech industries and develop new ideas. “THE vast majority of South Korean youngsters graduate from high school, and of these, 82% go on to university. This is the highest rate in the OECD and, for a country which had an adult literacy rate of just 22% in 1945, it is an extraordinary achievement.” (Source: The Economist) Development and Health Differences Quite cheap labour helped its companies to undercut their competitors prices. Development and Health Differences It encouraged foreign companies by giving subsidies and cheap loans. “US and UK law firms are racing to set up offices in South Korea to feed its corporations' growing demand for legal services, after the government opened the sector to foreign competition.” (Source: Financial Times) Development and Health Differences Companies were also attracted by its location near the huge market of China. Its strategic location on the Pacific Ocean and next to communist North Korea and China has led to help from the USA. Development and Health Differences [Task One] Using the Information you have learned and that on page 11 of the summary notes write two paragraphs on South Korea. Paragraph One: Introduce what an Asian Tiger Economy is and include some facts on North Korea including why it is surprising that it developed so quickly. Paragraph 2: Why did it industrialise? [Task Two] 2001(a) Suggest reasons for the differences in development between Newly Industrialising Countries and other Developing countries. You should refer in your answer to NICs and Developing countries that you have studied. (12 marks)