East Asia is one of the most dynamic, dazzling and diverse region of the whole world. It has a population of about 2.2 billion corresponding to one third of the global population. In this region, we have `dragon` and `tiger countries` playing very important roles on world political stage and giving new dimension to the global economy.
China is known as a country of dragon while Taiwan, South Korea, Hong Kong and Singapore are known as `Four East Asian tigers`. The most influential countries who play a pivotal role on the world economic scenario are Japan, China, South Korea and Singapore.
The growth this year in all the developing East Asian economy except Japan is going to be simply unprecedented in the last two decades. East Asia has got a huge relief after the financial crisis of 1997, which shivered the stock market nerves of Hong Kong, Singapore, Thailand and Malaysia. Even the World Bank has recently revised its forecast for the growth of East Asian economy, except Japan, in 2007-08 to be 8.4%, up from 7.3% earlier predicted in April last year.
The rising oil prices and inflation may slow down the growth of the economy of these East Asian countries; however it is predicted that these countries would perform much better than their western or South Asian counterparts.
Image: Visitors admire the giant lanterns at a park in China`s Shenyang
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