Final answer:
South Korea, Thailand, Indonesia, and China are examples of East Asian countries that have shifted from lower to higher income categories, thanks to their substantial economic growth.
Step-by-step explanation:
True, some formerly low-income countries in East Asia have moved into the high-income category.
Over time, countries can transition between income classifications based on their economic performance and growth. For example, South Korea, Thailand, and Indonesia experienced rapid and sustained economic growth, particularly after implementing market-oriented reforms. China is another prominent example with substantial growth following economic reforms around 1980.
These nations have achieved significant improvements in their GDP per capita, moving some into higher income brackets as per standard economic classifications. Economic growth in these countries came from diverse sectors such as services, manufacturing, and technology. The transition into the high-income category reflects a combination of investments in human and physical capital, technological advancements, effective market policies, and government interventions.