How did Pacific Rim nations such as South Korea and Taiwan escape the typical Third World cycle of poverty and dependence?

Question

Quizplus · Accepted Answer

South Korea and Taiwan used government regulation to promote new industries and required multinationals to cooperate with local firms. They also invested heavily in education and research and development, which helped them develop high-tech industries. This approach allowed them to become competitive in the global market and escape the cycle of poverty and dependence.

How Did Pacific Rim Nations Such as South Korea and Taiwan