Emerging economies are important components of the world economy, and they are getting a great share of the world GDP. Therefore, we are going to write a short article about some developed and emerging economies in Asia.
Emerging and Developed Economies in Asia
Singapore
Singapore, the de facto Southeast Asia`s financial center, is one of the most powerful economies in Asia and one of the richest cities in the whole world. This city is one of Asia`s largest exporters and a leader in this region when it comes to manufacturing any kind electric device, biotechnology and pharmaceuticals.
Hong Kong
Hong Kong seems part of China, but this region features a very different way of thinking than their Chinese counterparts. In addition, this economy is way more advanced than that of China and it features a democratic political system.
Thailand
Thailand is a hub for many frontier markets and it is Southeast Asia`s largest continental nation. Thailand`s corporations have made important investments in other countries such as Laos, Cambodia and Mayanmar.
Japan
Japan experienced a fast economic growth following the WWII becoming the second largest national economy in 1978.
India
India seems to be a solid investment in the long haul thanks, in some degree, to its increasing and huge population set to reach 1.5 billion people by 2040.
South Korea
South Korea is considered by many as an emerging market, but this country is fully developed. With a GDP over $1 trillion and a high-income economy, this nation is an important member of the OECD.
Indonesia
Indonesia features a powerful manufacturing sector, a huge population, and the largest GDP in the whole Southeast Asia. This nation is also rich in precious metals and crude oil as well as many other natural resources. Indonesia is also a member of the OPEC and the G20 at the same time.
Malaysia
Malaysia features one of the most important financial and banking centers in the Islamic world. The average GDP growth rate of 6.5% was a reality since its independence and lasted till the end of the past century.
Mayanmar
Mayanmar has been opening its investment doors to the world since the end of a strong military dictatorship. Once a repressive political system, this country has become really interested in changing for the better as lifted sanctions from the E.U. and U.S. demonstrate.
The Philippines
The Philippines features one of the fastest GDP growth rates and is well on its way to become one of the largest economies in the world by 2050, according to Goldman Sachs. This Asian nation has a strong service sector as well as an industry undergoing rapid industrialization.
China
China has become the largest growth engine for the whole world thanks to its huge population and GDP growth rate.
Vietnam
Vietnam has experienced rapid GDP growth since the 1980s where it shifted from planned and centralized economy to a market one.
We have talked about some of the most important emerging economies in Asia where China and India feature huge populations and strong GDP growth over time. Indonesia, Maynmar and Thailand are important sources of GDP growth, natural resources, and many other good things these days.
