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Apple Daily: 'Four Asian Tigers' nostalgia
Central News Agency
2014-02-20 10:58 AM
While Taiwan still remembers the past glory of the "Four Asian Tigers," outspoken National Development Council Minister Kuan Chung-ming said Wednesday that "there is no such thing as the `Four Asian Tigers' anymore." Kuan deserves our applause for his attempt to wake people up from their nostalgia. According to Kuan, Singapore, South Korea and Hong Kong, which have moved far ahead of Taiwan in terms of economic development, no longer see Taiwan as a competitor. Still indulging in the dream of the "Four Asian Tigers," many people in Taiwan are expecting the export sector to bring Taiwan back to prosperity. But the world has changed and Taiwan can no longer cling to the old-economy model. The export-oriented growth strategy has relied on demand from major overseas markets such as the United States, Europe and Japan. With economic recovery remaining slow in these markets, it is unrealistic to expect the world economy to get back to its "irrational exuberance" of prior to 2007. Taiwan must change the way its goods and services are being exported and transform its economic structure. It must allow "creative destruction" and add value to its products to make a new economic miracle possible. (Editorial abstract -- Feb. 20, 2014) (By Y.F. Low)
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