Why were Japan, South Korea, Hong Kong, Singapore, and Taiwan so successful in developing their economies ? Do you agree that it was a MIRACLE,

In short , the capital was used in the creation of an efficient export-oriented economy

Economic aid was never the sole determinant in the creation of the `Tiger Economies ' From 1945 to the 1950s , the United States introduced the so-called `Modernization Project ' This project involved the political , social , and economic restructuring . Japanese education was westernized . Democracy became the emblem of a new . The power of the emperor was severely reduced . In fact , the emperor renounced his divine status to allow the efficient flow of democracy in the country The office of

prime minister became the governing authority . The Japanese parliament represented the people from all levels . On the economic side , Japan was heavily involved in the creation of an export-oriented economy . From the 1950s to the early 1960s , Japanese exports reached 2 /3 that of the United States . Japan 's per capita GDP was almost equal to the United States . Japan 's back-breaking path to development was due to three factors : 1 ) the intensity of US aid flowing in the country (discussed in the first part of the , 2 ) the modernization and democratization of the country (stability of government is one of the essential factors in economic development , 3 the so-called `culture of good life (widespread to all classes of Japanese society , and 4 ) the creation of an export-oriented economy

South Korea and Taiwan followed the Japanese path to economic development , albeit , in different ways . Taiwan pursued an aggressive land reform program under Generalissimo Chiang-shek (the former Chinese president . The capital obtained from the land reform program was used in the creation of an export-oriented economy . After the division of Korea into two states , South Korea pursued a radical agricultural program (the establishment of a huge agricultural bank directed to provide substantial loans to farmers and traders . Again , the capital obtained...