East Asian Miracle

The East Asian Miracle refers to the rapid economic growth and development experienced by several East Asian countries, especially Japan, South Korea, Taiwan, and Singapore, from the 1960s to the 1990s. This phenomenon was characterized by high rates of industrialization, export-oriented growth, and effective government policies that promoted education and technology. These countries focused on strategic investments, created favorable environments for businesses, and often involved state intervention to guide economic development. As a result, they transformed from developing economies into prosperous nations, significantly improving living standards and achieving remarkable economic success within a few decades.