There is a remarkable record of high and sustained economic growth from 1965-1990 in twenty three East Asian economies. In this area, most of the runaway growth focuses on eight economies, sometimes collectively referred to as the 'High Performing Asian Economies' (or HPAEs). Japan. the 'Four Tigers': Hong Kong, South Korea, Singapore and Taiwan, the three 'Newly Industrializing Economies' (or 'NIEs') of Southeast Asia: Malaysia, Thailand and Indonesia amongst twenty three economies of Asia achieved higher growth than any other regions of the world.