Beginning of Essay
Over the past decade, there has been rapid long-term economic growth for East Asian countries. These newly industrialising countries are experiencing growth rates in GDP per head at around 6% to 7% compared to the 2% to 3% for most industrial economies. If thi ....

Middle of Essay
.... Japan took 34 years from the late 19th century. Finally, South Korea was able to double its real income per head in an amazing 11 years from 1966. It would seem that the later a country has industrialised, the faster it has been able to do so. Another important factor is the degree to which a country is behind the industrial leaders. In the case of the East Asian countries, South Korea and Taiwan, both started out with an extremely low income per head. This allowed much faster growth when copying the leaders. It is important to realize that these growth rates should slow as the countries catch up. An area in which East Asia is investing much of ....