GLOBAL ECONOMY Essay Example | Topics and Well Written Essays - 250 words

GLOBAL ECONOMY - Essay Example The four tigers stipulated trade rules for all the member state while the ASEAN 4 implemented a system they called the ASEAN way. The system embraces freedom of domestic legislation while adhering to the ASEAN community (Hirst 2002). The four Tigers first had a strong foreign funding especially from the USA that gave South Korea and Taiwan a strong support. It was due to its geopolitical interests in the region while the ASEAN four countries mostly depended on financial policies; government funding and remittance’s from their economies to further develop their economy. They differed in the source of funding. ASEAN 4 countries mostly relied in export of lower categories of value added goods that have slower growth like apparel clothing, organic chemicals, but have slowly grown into electronics, telecommunication equipment and machinery especially Malaysia and Philippines. It is in contrast to 4 Tiger nations that have a broader range of export categories with most reliance on electronic and machinery. Export policies of the two regions differ from each