Economic Development in Asia shows high impact of economic development of this respective continent. Readers and viewers must take note that the economy of Asia is an integral part of the world's economy.
This continent have adopted one of the following economic systems such as capitalism, communism, socialism, and facism.
Asia is the largest continent in terms of area and population. It is also the region with the highest growth rate.
Here are Asian countries that contributes their economic development to our society.
Of all the Asian Countries, Japan is the only Asian country included among the indsutrialized countries.
Taiwan, Hongkong, and Singapore are known as "Little Japan" which considered as Newly Industrialized countries.
India as of now contributes business process outsourcing improvement for the information technology sector which results to a great impact in economic development of South Asia.
Philippines is now improving because they contribute foreign remittance that they send money to their love ones which came from Overseas Filipino Workers that improves their nation.
In China, history and culture is their secret to improve their economy even if it is ruled and operated by state.
Brunei Darrusalam contributes oil export and that is how they preserved and rich in natural resources for their country.
North Korea shows hammer and sling as a symbol for their communistic views of their economic system in Far East Asia. While South Korea shows modern technology that is influence from Western countries which results an improvement of technology in their designated countries.
Indonesia is the largest population of Muslim nation in the whole Asia which is colonized by Netherlands. It is based on their banking and finance in an Islamic Way of living. This is the same situation in Malaysia which is a British colony.
After showing the information of some Asian Countries, they have also problems that they are facing in economic development for Asian countries in which I discovered and these are the following:
First, they have low standard of living
Second, they have low level of production
Third, there is a rapid population growth
Fourth there is a high rate of unemployment
Fifth, there is over dependence on agricultural production and exportation of raw materials
and sixth which is the last the dependence on international trade.
Asian nations are destined to play a greater role in the world's economy in the very near future.
The moral lesson of this article is very important because awareness of what these problems are will contribute to a better understanding of these problems and open mindedness in meeting the challenges and economic opportunities available to Asians as a people.
