Explain the Reasons for the Economic "Miracle" of the East

question 8

Essay

Explain the reasons for the economic "miracle" of the East Asian countries between 1960 and 1997. Is it only because of the common Asian practice of industrial policy and business-government cooperation?

---

Definitions:

Medicare Tax

A federal payroll tax that funds Medicare, the health insurance program for individuals aged 65 and over, as well as for some younger people with disability status as determined by the Social Security Administration.

Payroll Period

The interval of time for which an employee's wages are calculated, such as weekly, bi-weekly, or monthly.

Salaries Payable

An account that represents the amounts owed but not yet paid to employees for services rendered.

Payroll Register

A comprehensive record detailing the amounts paid to employees for services rendered during a specific period.