Question

describe briefly a couple of key factors that have greatly contributed to the rapid growth of...

describe briefly a couple of key factors that have greatly contributed to the rapid growth of a countrys economy with a case in one East Asian country

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Answer #1

Key factors that have greatly contributed to the rapid growth of a Japan's economy (Japan is east asian country)

  • High productivity is the main factor that caused an increase in the economic growth of Japan.
  • The education system leads to highly skilled labor. These laborers contributed to the economy of the country by using their expertise in their specialized fields.
  • The high savings rate and investment rate of the country also affected its economic growth positively.
  • Proper use of natural resources and allocating the resources properly helped the country to boost its economic growth and avoid the problem of scarcity.


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