Southeast Asia

Southeast Asia is a subregion of Asia.

Economy

The Southeast Asian islands are a major source of world petroleum supplies; the region is also a center for logging.

Related Topics:
Petroleum - Logging

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Southeast Asia has experienced great economic growth since the 1980s; Singapore was one of the four original "East Asian Tigers" and in recent years Indonesia, Malaysia, the Philippines and Thailand have often been considered a new brood of "tigers." Tiger refers to the rapid growth of these economies. Much of this growth has been driven by foreign direct investment in local industries; the money came from the U.S. and Japanese TNCs; later from international investment portfolios. Because of this international investment, Southeast Asia was often considered an example of globalized capitalism by international economic experts. On a local level however, the growth was interpreted somewhat differently: "Asian values", a model of authoritarian governments firmly guiding economies toward rapid development, have been promoted by some regional leaders; confidence in this model was shaken by a the Asian financial crisis of 1997, which occasioned a period of more cautious, slower growth. All of the southeast-asian states except East Timor are members of ASEAN. The ASEAN Free Trade Area has reduced tariff barriers between regional economies; the signatories have agreed to extend a free trade agreement with the People's Republic of China and Japan in coming years.

Related Topics:
1980s - East Asian Tigers - Foreign direct investment - International investment portfolio - Asian values - Authoritarian - Asian financial crisis - 1997 - ASEAN Free Trade Area - People's Republic of China - Japan

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

While Singapore is the 2nd busiest Port in the world and a major Financial and Banking hub, Malaysia is the world largest exporter of Oil Palm.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

In sharp contrast to the hub of economic development, Singapore, there is persistent poverty in Vietnam, Laos, and Cambodia. Two Southeast Asian countries, Laos and Vietnam, are ruled by Communist parties; these have since 1986 both been gradually transitioning from planned to market economies. The poverty is a consequence of the war this region was embroiled in from 1941 to 1975, in Cambodia fighting continued until the late 1990s. Vietnam?s combines free market capitalism and communism, attracting multinationals, and encouraging small entrepreneurs. It has developed into the most prosperous of the three countries, even though it ranks among the world's poorest countries. Laos and Cambodia experience difficulties because of their rough or isolated terrain and their lacking infrastructure.

Related Topics:
1986 - Planned - Market

~ ~ ~ ~ ~ ~ ~ ~ ~ ~