Technology policy on the Pacific Rim

Taiwan, South Korea, Singapore, and Hong Kong have become dynamic new players in the international political economy. The four newly industrialized countries gradually but steadily have moved away from being merely low-cost manufacturing sites for transnational corporations. In fact, their ability to appreciably increase the technological sophistication of their manufactured goods has attracted a great deal of attention. In each country, the state has played a central role in the technological progress. Within the framework of a free-market economy, governments have followed policies that encouraged adoption of new ideas and innovations, promoted the diffusion of existing technology and the import of new technology, sponsored heavy investments in education and training, and disseminated economic and technical information.