Between the early s and s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year. By the early 21st century, these economies had developed into high-income economies , specializing in areas of competitive advantage. Hong Kong and Singapore have become leading international financial centres , whereas South Korea and Taiwan are leaders in manufacturing electronic components and devices. Their economic success have served as role models for many developing countries , especially the Tiger Cub Economies of southeast Asia.
Asian Tigers: Economics and the Development of the Asian Nations
Asia’s future is now | McKinsey
South Asian Countries: The New Face of Emerging Economies
We are also thankful to China which has provided vaccine. Just like the vaccine has been inoculated to a doctor, it will be given to frontline health care workers who have been dealing with the Covid patients. Vaccine is being distributed fairly in all the provinces and no one should think that one province has been getting more doses. As the first tranche of the vaccine was sent to all federating units, the premier urged all registered HCWs to get themselves vaccinated as they were considered the most vulnerable across the globe. Interestingly, photos and video clips of the first shot being administered to a Pakistani in the presence of PM Khan, Special Assistant to PM on Health Dr Faisal Sultan and Minister for Planning Asad Umar went viral on social media and TV channels, majority of the people remained unaware of his identity as his face was covered with mask.
Advanced economies are also sometimes referred to as developed , industrialized and mature economies. However, there are a number of core metrics that the organization is believed to regularly use to determine whether an economy should be categorized as advanced. One of the primary ones is GDP per capita, a tally of all the goods and services produced in a country in one year.