5

1
Economic Development

• 5 NICs and the Four Tigers

2
Lesson Objectives

• To look at how countries can help each other to
  develop.
• To look at the positives and negatives of rapid
  development.

3

• NICS Countries which have seen rapid
  industrialisation since the 1960s.
• Cheap labour.
• Government subsidies
• Good Transport routes
• Free Market
• Aid
• Their growth is known as the economic miracle.

4
Success Criteria

• What is an NIC?
• Give three examples of NICs
• 1
• 2
• 3
• What factors have led to South Korea becoming an
  NIC? 
• What companies are based in South Korea?
• How do you think the World Cup furthered the
  development of the South Korea economy?

5
Asian 4 Tigers

• After the second world war Japans economy
  increased rapidly due to cheap manufacture and
  export.
• It used this model to help and support other
  countries in Asia to do the same (Hong Kong,
  Singapore, South Korea and Taiwan).
• There economies were built on simple ideas
• 1. Economic development through the exportation
  of goods to MEDCs. Domestic consumption was
  discouraged through government policies such as
  high tariffs (taxes).
• 2. Since the Four Asian Tigers were relatively
  poor during the 1960s, these nations had an
  abundance of cheap labour which attracted
  factories from oversees countries who also
  benefited from low export costs.
• 3. The Asian Tigers singled out education as a
  way of improving productivity focusing on
  ensuring that all children attended primary and
  secondary education. Money was also spent on
  improving the college and university system.

6
Success Criteria

• What is a TNC?
• Give three examples of a TNC
• 1
• 2
• 3
• What factors are required for a TNC to develop?
• Where do TNCs base their manufacturing and their
  headquarters?
• Do you think TNCs benefit countries where they
  base manufacturing? Explain your answer
  thoroughly.

7
Plenary
NICs, Secondary Industry, TNCs

Large corporation operating in many countries, but ususally with its headquarters in an MEDC LEDCs where manufacturing industries have grown rapidly leading to economic development Manufacturing industry that processes raw materials and makes them into other products.
8
How well have you done?

• 
  

Yes! I have understood fully and have made good
progress.
I have done ok but I am still unsure of some of
it.
Help! I dont understand it.