What is east Asian miracle?

Answer 1

The East Asian miracle refers to the phenomenal economic growth rate which was experienced by countries in East Asia during the 1970s.

Answer 2

The East Asian miracle refers to the rapid economic growth and development experienced by several East Asian countries, including Japan, South Korea, Taiwan, and Singapore, in the latter half of the 20th century. This growth was characterized by high levels of GDP growth, industrialization, export-led growth, and improvements in living standards within a relatively short period of time. Despite differences in approaches and political systems, these countries shared common factors such as a focus on education, investment in infrastructure, export-oriented policies, and strong government intervention in the economy.