Topic > Analysis of the Celtic Tiger in Ireland - 2117

During the twentieth century, Ireland was experiencing a period of economic difficulty. “Economic growth was stagnant, unemployment was at an all-time high and higher than anywhere else in the EU, except perhaps Spain, and the state was one of the most indebted in the world” . Irish men and women who had received formal education had immigrated to other nations due to the unavailability of work at home. This left Ireland in a state of further economic decline and the lack of skilled workers left Ireland stranded. The 1990s were a turning point for Ireland. An increase in industry within the nation, as well as an increase in exports, led to Ireland becoming the “shining nation” in Europe. It became internationally connected with one of the largest nations, the United States, and international trade became the new source of a booming economy for Ireland. This led to the birth of what was known as the Celtic Tiger in Ireland. The Celtic Tiger was a label applied to the Irish economy in the 1990s. It was a new image for Ireland, mirroring the Asian Tiger in that it was young, lively and also well educated. He also brought to Ireland the idea of ​​higher wages and lower taxes. This new identity was one that distinguished Ireland for the first time ever. This article will examine the Celtic Tiger phenomenon of the 1990s and how it shaped Ireland and its links with East Asia and the United States. During the twentieth century, the world began to develop the idea of ​​economic trade. Starting in the 1960s, the four Asian Tigers, Hong Kong, Singapore, South Korea and Taiwan, demonstrated that a global economy, fueled by a system of import and export with other countries, allowed the country's own economy to prosper. The…middle of the paper…low pay and men in better paying jobs. It broke down further as industries entered the nation and were exposed to low taxes. Because of this, homeowners were taxed more to make up for this loss of taxation in industry. Furthermore, the importation of foreign industries into Ireland has taken away local businesses, forcing them to earn little or no wages and forcing them out of business. Finally, the large industries that were becoming prosperous in Ireland were not beneficial to Ireland itself. Instead of reinvesting profits from large industries across the nation into the Irish economy, these profits flowed back into foreign nations, such as the United States. Therefore, although the Celtic Tiger appeared to prosper during the 1990s, economic decline was inevitable and Ireland returned to much the same state it had been in before the start of this decade..