East Asian Newly Industrializing Countries: Economic Growth and Quality of Life

The world is much impressed by the rapid economic development of four Asian Tigers – Hong Kong, Singapore, South Korea and Taiwan. However, it has often been taken for granted by many people that their social development is equally satisfactory. In order to investigate whether this belief is true or not, this paper looks at the levels of social development these countries have attained. Various measures of their quality of life will be assessed. Specifically, poverty, income distribution and environmental degradation are discussed. Despite their economic success, this study has found that most tigers are plagued by problems of poverty, increasing income disparities and environmental degradation. Further, social expenditures of these countries have been too limited to eliminate or impact on these problems.