All eight countries known as the High Performance Asian Economies are outwardly oriented for trade and investment,and all have experienced rapid growth by world standards.

Question

Quizplus · Accepted Answer

The statement is correct. The eight countries known as the High Performance Asian Economies (HPAEs) - Japan, South Korea, Singapore, Hong Kong, Taiwan, Malaysia, Thailand, and Indonesia - are all known for their outwardly oriented approach to trade and investment, and have all experienced rapid economic growth compared to the rest of the world. This approach has helped them become major players in the global economy.

All Eight Countries Known as the High Performance Asian Economies