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... So, these Five sold their exports in order to gain raw materials, foodstuffs and capital goods. ... The decisive factor is not the amount of exports as a share of production but the impact the imports have on economic development and this is the fact that explains why countries like Japan and Korea survived. In each of the Five, the primary source of growth stemmed from exports. The initial takeoff only came after a rise in exports, and that would be followed by an enhanced amount of exports only to lead to greater more outstanding economic growth. The bottom line: When exports soared, the economics followed and when exports slumped the economies wilted. ... The more exports, the greater amount of output the businesses. ... Since the scale of the businesses was constantly growing along side of the exports, the amount of laborers also had to increase. ...
Export promotion not very different from promotion of industrialization
• Companies which encouraged exports ended up with double support
o Rebates of duties on raw materials
o Intermediate goods and machinery needed for export production
o Easier access to bank loans
o Credit for purchasers
o Favorable exchange rates
o Tax breaks on investments and profits from exports
Industrialization was the under minding goal of using an export-oriented strategy. ... The government then, only had to promote exports and in return would receive advancement in the industrial field. ... The most dominant exporters were receiving praise and rewards, thus, increasing exports and directly increasing reliance. ... Another way to look at it is these exports let to a neglect of other sectors. ...
Slightly different approaches
Hong Kong, and less outspokenly, Singapore did not promote exports through tax benefits and other such approaches, but rather took a different view then the other three countries of Japan, Korea, and Taiwan. ... Singapore, however, strongly promoted exports but most of the time limited the promoting to verbal expressions.
Approximate Word count = 1504
Approximate Pages = 6
(250 words per page double spaced)
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