Question

All of the following prompted the rapid economic growth of the Asian Tigers EXCEPT?

A. low costs of production
B. open economies
C. low savings rates
D. investment by foreigners

Answer 1

C. low savings rates

Step-by-step explanation:

The term "Asian tigers" refers to four Asian countries, which in recent decades have been showing high rates of economic growth. These countries are: South Korea, Singapore, Taiwan and Hong Kong.

The Asian Tigers achieved development with an economic export model; these territories and nations produce all kinds of products to export them to industrialized countries. Domestic consumption is discouraged by high government tariffs

As the Tigers were relatively poor during the 1960s, they had plenty of cheap labor. Along with the educational reform they have been able to take advantage of this advantage by creating a low-cost yet very productive workforce. They promoted equality in the form of agrarian reform, to promote property rights, and to ensure that rural workers were not harmed. Agricultural subsidy policies have also been implemented.

Answer 2

Let's look at all the options:
A. low costs of production
This is true! This includes also the low wages paid to the workers
B. open economies
Yes, they do have open economies, in the sense that they can freely trade with other countries
C. low savings rates
-I don't know anything about this. And since all the other options are true, this will be our choice!
D. investment by foreigners
This is true! there is a significant foreign investment