Rapid Economic Growth In East Asian Countries Over the past decade, there has been rapid long-term economic growth for East Asian countries. These newly industrialising countries are experiencing growth rates in GDP per head at around 6% to 7% compared to the 2% to 3% for most industrial economies. If this growth continues, South Korea and Taiwan might take away America's distinction as the world's richest country. This rapid economic growth is a result of several economic and political factors. The pace of economic developme....

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