Title: Preview
1The Rise of Pacific Rim Economies
- Preview
- Main Idea / Reading Focus
- Postwar Japan
- The Pacific Rim
- The Asian Tigers
- Visual Study Guide / Quick Facts
- Video The Impact of Vietnams Location
2The Rise of Pacific Rim Economies
Main Idea The nations of the Asian Pacific Rim
underwent remarkable economic growth in the years
after World War II, but significant challenges
remain.
- Reading Focus
- How did Japan change during the postwar years?
- How did the nations of the Pacific Rim change
after World War II? - How did the Asian Tigers develop?
3Postwar Japan
Japan suffered terrible destruction during World
War II. After the war, the nation needed to
rebuild its government and economy.
4Next Steps
- Building Democratic Government
- Second step began with new constitution for
Japan, went into effect in 1947 - Gave more power to Japanese people, established
parliamentary democracy, gave all Japanese adults
right to vote for Japans Diet
- Human Rights
- Emperor no longer sacred being, simply symbol of
the state - Great emphasis placed on importance of human
rights, greatly expanded civil rights, including
freedom of speech, assembly, religion
- Political Parties
- New constitution forbade Japan from building
military capable of attacking other countries,
guaranteed right to organize political parties - Most important new party, Liberal Democratic
Party (LDP), conservative party with pro-U.S.
foreign policy
5Final Step
- Third step, rebuilding Japanese economy
- MacArthur made many economic changes
- Sought to break up large organizations known as
zaibatsu that had dominated Japanese industry - Established land reform program to give farmland
to farmers who had previously rented land
6- Economic Recovery
- U.S. economic aid flowed freely biggest boost
came with outbreak of Korean War, 1950 - During conflict Japan served as key source of
supplies for U.S., UN forces fighting in nearby
Korea
- Foreign Trade, Consumer Goods
- After Korean War, Japan built economy around
foreign trade, production of consumer goods - Constructed modern factories, quickly rebuilt
heavy industry, including steel, automobile
manufacturing
7Rising Economy
8Social Changes
The postwar economic growth led to an improved
standard of living for Japanese workers and
brought Japan many other social changes.
9Summarize How did Japan change in the postwar
years?
Answer(s) standard of living improved economy
grew culture adopted some American elements
gender roles changed
10The Pacific Rim
The Pacific Rim refers to the countries bordering
or located in the Pacific Ocean. Like Japan,
other nations in the Asian Pacific Rim worked to
rebuild economies and support democracy after the
war.
11North Korea and South Korea
- Korea remained divided nation after end of Korean
War in 1953 - North Korean dictator Kim II Sung formed Soviet
model government state controls much of economy,
spending on heavy industry, military - North Korea made significant gains with Soviet,
Chinese aid - Poverty, food shortages spread across nation as
foreign aid decreased
12- Taiwan
- 1949, Guomindang nationalists settled on Taiwan
- With U.S. economic, military aid, Taiwan built
successful economy based on international trade,
consumer goods - 1980s, ended martial law, allowed other political
parties to form
- Movement Toward Democracy Continues
- Movement toward democracy continued in later
years - Today, China views Taiwan as integral part of
China - Insists two areas eventually will be reunited
- Taiwan resists pressure from China
13Summarize How did most of the Pacific Rim
nations move toward democracy?
Answer(s) with U.S. economic aid
14The Asian Tigers
While Japan was building one of the worlds
strongest economies in the years after World War
II, other Asian nations were also making great
economic gains. Because of economic successes,
South Korea, Hong Kong, Taiwan and Singapore
became known as the Asian Tigers.
The nations further benefited from their access
to the major shipping routes of the Pacific Ocean.
15Manufacturing
- As in Japan, Asian Tigers focused on growth
- Growth came through exports of consumer goods,
primarily to United States - Low costs for labor, production, as well as
loyal, dedicated workforce allowed manufacture of
low-cost products that could sell in U.S.
16An Economic Crisis
- Success Led to Failure
- 1997, economies of Japan, Asian Tigers suffered
shock when severe financial crisis hit region,
partly due to regions great success - Superior performance led foreign companies to
invest heavily in economies
- Thailands Banks Failed
- Lack of government regulations allowed Asian
Tiger banks to borrow more than they needed - Crisis began when banks began to fail in Thailand
- Financial Panic
- Financial panic quickly spread through region
foreign investors sold holdings - Stock, real estate prices collapsed, currencies
lost value - Region overwhelmed by debts it could not pay
collapse undid years of progress
17An Asian Century
- Economic Recovery
- Over the following decade, region began to
recover from economic disaster
- Economic Powers
- Nations like Indonesia, Malaysia, Thailand,
Philippines began to emerge as economic powers
- Asian Miracle
- Great success of many Asian economies had many
observers celebrating so-called Asian miracle
- An Asian Century
- Some predicted 2000s would be Asian Century
- Asia to surpass Europe, North America as dominant
economic region in world
18Find the Main Idea How did the Asian Tigers
follow Japans model of economic growth?
Answer(s) provided education and training for
workers focused on exports
19(No Transcript)
20VideoThe Impact of Vietnams Location
Click above to play the video.