Economic change in Southeast Asia

H2 History - syllabus 9174, 2027

How Southeast Asian economies pursued growth, equity and nationalism, how agriculture, industry and finance changed, and how far economies were transformed by 2000.

• The starting point: colonial economies

  At independence most Southeast Asian economies exported a few raw materials, were largely owned by foreigners, and employed most people in farming.

• Economic aims: growth, equity and nationalism

  New governments pursued three aims: growth, a fairer share of wealth, and national control of the economy. These aims could pull in different directions.

• Agricultural modernisation

  New seeds, irrigation and fertiliser raised farm output sharply. Yet farming remained the main source of work for many people, and the gains were uneven.

• Industrialisation: from import substitution to exports

  Most governments first made goods to replace imports, then switched to making goods for export. The timing and success of the switch differed.

• Financial services and diversification

  Economies became more varied, and finance grew fast in some. Rapid opening of the financial sector in the 1990s also created new risks.

• Judging the extent of change

  Economic change was large in Singapore, Malaysia and Thailand, partial in Indonesia and the Philippines, and limited in Burma. Continuities remained everywhere.

• Put it together: Track the change

  Choose a change and judge how significant it was.