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Tokugawa period (Edo period).
Japan's Edo period, led by the Tokugawa shogunate, brought stability with an agrarian economy and restricted trade mainly to Dutch and Chinese merchants in Nagasaki. -
Meiji Restoration
The government initiates a series of reforms to modernize the economy, industry, and infrastructure. -
Asia-Pacific Economic Cooperation (APEC) Foroum.
It has become the pre-eminent economic forum in the Asia-Pacific region. Its primary purpose is to promote sustainable economic growth, trade and investment, and prosperity in the Asia-Pacific region. The APEC is a trade agreement that currently consists of 21 countries mainly located in Southeast Asia and East Asia. -
Economic growth
East Asia has a history of seeing strong and consistent economic expansion in recent years. This was caused by the industrialization of nine nations, including China, Japan, the four "dragons" or "tigers"—Hong Kong, Singapore, Taiwan, and the Republic of Korea—and three recently industrialized nations, Malaysia, Thailand, and Indonesia. -
Asia's exports.
In the majority of Asian nations, mining is an important economic sector. Oil is the most significant mineral exported from Asia, and the world's largest oil reserves are found in Southeast Asia and the Middle East in particular. -
Japan's development
Due to the consistently low price of oil after World War II, Japan was able to expand its heavy and chemical industries as well as its exports without having to devalue its currency. -
Japan's growth
Japan remains to hold the title of the second-largest economic power in the world, producing around 12% of the global GDP. It is also a significant contributor to official aid for development.
The world has frequently looked to Japan's post-war phenomenal development as a model to follow. -
The Asian Tigers
Between 1945 and 1990, Taiwan, Hong Kong, Singapore, and South Korea experienced significant economic growth in the midst of the Cold War. They became economic powers by producing high-quality, affordable products, expanding globally, investing in technology, implementing import substitution policies, and ultimately shifting to exports, thereby reshaping global economic norms. -
Taiwan as an industrialized country.
The country successfully navigated the 1973 crisis by transforming its industries into the high-tech sector and has since become a prominent manufacturer of microprocessors. Additionally, Taiwan has emerged as a major investor in the People's Republic of China. -
Hong Kong
This place has evolved into a global hub for industry, finance, and commerce, with a growing focus on economic interests in Asia. It serves as a vital gateway for trade and investments in the broader Chinese region. -
Singapur
This region in Asia has consistently achieved impressive annual economic growth rates, primarily driven by exports and import refinement, especially in the electronics and industrial sectors. -
South Korea
South Korea has become a major global trading nation and a high-income, advanced, and developed economy, thanks in part to significant economic aid from the United States and Japan. It holds prestigious classifications from international organizations like the OECD, World Bank, IMF, and FTSE group. -
ASEAN+3
To strengthen economic and political ties with key dialogue partners, the formation of ASEAN+3 occurred, comprising the ten ASEAN nations along with China, South Korea, and Japan. -
The Asian crisis
The Asian financial crisis, which commenced in July 1997 with the devaluation of the Thai currency, created widespread financial turmoil in Asia, including Taiwan, Hong Kong, and South Korea, and raised concerns about global economic turmoil through financial contagion. -
Sovereign nations VS Wall Street during the Asian financial crisis
In the late 1990s, violent riots erupted in Indonesia and South Korea, leading to the resignation of Indonesia's long-serving president. The financial crisis that began in Asia also posed a serious threat to global markets, creating the potential for widespread financial instability on a global scale. -
China is now one of the world's most advanced economies.
Between 2000 and 2007, China achieved remarkable economic growth with an average rate exceeding 10%, leading to a substantial increase in its GDP. During this period, China's economic growth far outpaced that of advanced economies, and it was expected to continue its strong growth trajectory, as predicted by the IMF. -
China from 5th to 3rd world economy.
Two years after, China's economy advanced to become the third-largest in the world, surpassing Germany. According to statistics from China's National Bureau, China's GDP reached $3.76 trillion, exceeding Germany's $3.32 trillion in the first nine months of 2008, driven by a 9.9% growth rate. -
Main Asian Exports
China held the position of the world's second-largest exporter, while Japan ranked fourth. Japan's exports primarily consisted of road vehicles, electrical machinery, specialized machinery, iron and steel, as well as industrial machinery and equipment. -
The economy during COVID-19
Despite being the place where COVID-19 originated, China's economy has shown remarkable resilience and strength, as the government reported a 4.9% growth between July and September, compared to the same period the previous year. -
Recovery of the Asian economy during the COVID pandemic
Asian economies are facing severe challenges due to the COVID-19 pandemic, impacting various sectors like tourism, labor supply, trade, investment, and production. To address these challenges, finance ministers from the ASEAN countries and China have agreed to enhance economic and trade ties and to explore synergies between China's Belt and Road Initiative and the ASEAN Connectivity Plan.