The Tiger Cub Economies collectively refer to the economies of the developing countries of Indonesia, Malaysia, the Philippines, Thailand and Vietnam, [1] the five dominant countries in Southeast Asia. [2] [3]
The Tiger Cub Economies are so named because they attempt to follow the same export-driven model of technology and economic development already achieved by the rich, high-tech, industrialized, and developed countries of South Korea, Singapore, and Taiwan, along with the wealthy financial center of Hong Kong, which are all collectively referred to as the Four Asian Tigers. [4] [5] [6] [7] Young tigers are referred to as "cubs", the implication being that the five newly industrialized countries [8] who make up the Tiger Cub Economies are rising Tigers. In fact, four countries are included in HSBC's list of top 50 economies in 2050, [9] while Indonesia, Vietnam and the Philippines are included in Goldman Sachs's Next Eleven list of high potential economies because of their rapid growth[ quantify] and large population.
Overseas Chinese entrepreneurs played a major prominent role in the development of the region's private sectors. These businesses are part of the larger bamboo network, a network of overseas Chinese businesses operating in the markets of developing countries like Malaysia, Indonesia, Thailand, and the Philippines that share common family and cultural ties. [10] China's transformation into a major economic power in the 21st century has led to increasing investments in Southeast Asian countries where the bamboo network is present. [11]
GDP and GDP per capita data are according to the International Monetary Fund's October 2023 data. [12]
Rank | Country | Population in million |
GDP Nominal trillions of USD |
GDP Nominal per capita thousands ofUSD |
GDP (PPP) trillions of USD |
GDP (PPP) per capita thousands ofUSD |
---|---|---|---|---|---|---|
— | ASEAN | 685.15 | 4.16 | 6.07 | 11.93 | 17.41 |
1 | Indonesia | 279.96 | 1.54 | 5.51 | 5.51 | 16.84 |
2 | Thailand | 70.27 | 0.543 | 7.73 | 1.67 | 23.71 |
3 | Philippines | 114.16 | 0.476 | 4.17 | 1.38 | 12.13 |
4 | Vietnam | 101.3 | 0.469 | 4.64 | 1.55 | 15.32 |
5 | Malaysia | 33.460 | 0.465 | 13.91 | 1.31 | 39.07 |
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