The Asian Economy

 In subsequent decades, as multinational

corporations have become more footloose with

greater global opportunities for outsourcing, these

interests are more likely to oppose large

government spending on educational and welfare

programs for the middle and working classes.

 Indian and Asian elites anticipate doubling real

incomes in a generation.

 The four Asian tigers, South Korea, Taiwan (China-

Taipei), Singapore, and Hong Kong are included

among the newly industrializing countries (NICs).

 World Trade Organization administers international

trade rules.

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 Economists use national-income data to compare a

given country's GNP or GNI over time.

The inside front cover table shows the economic

growth of 116 of 123 countries, 1973 to 1998.

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