Q. Which of the following countries is/are part of “East Asian Miracle 1993”?
1. China
2. Japan
3. South Korea
4. Thailand
5. Philippines
Select the correct answer using the codes given below:

[A] 1, 2, 3 and 4 only

[B] 2, 3 and 4 only

[C] 2, 3, 4 and 5 only

[D] 1, 2, 3, 4 and 5

Answer: B

Eight countries in East Asia–Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, and Indonesia–have become known as the “East Asian miracle” because of their economies’ dramatic growth.  

  • In these eight countries real per capita GDP rose twice as fast as in any other regional grouping between 1965 and 1990.  
  • Even more impressive is their simultaneous significant reduction in poverty and income inequality.  

Source: Ramesh Singh