<P> Oil - rich countries saw similar failures in their economic choices . An EIA report stated that OPEC member nations were projected to earn a net amount of $1.251 trillion in 2008 from their oil exports . Because oil is both important and expensive, regions that had big reserves of oil had huge liquidity incomes . However, this was rarely followed by economic development . Experience shows that local elites were unable to re-invest the petrodollars obtained through oil export, and currency is wasted in luxury goods . </P> <P> This is particularly evident in the Persian Gulf states, where the per capita income is comparable to those of western nations, but where no industrialisation has started . Apart from two little countries (Bahrain and the United Arab Emirates), the Persian Gulf states have not diversified their economies, and no replacement for the upcoming end of oil reserves is envisaged . </P> <P> Apart from Japan, where industrialisation began in the late 19th century, a different pattern of industrialisation followed in East Asia . One of the fastest rates of industrialisation occurred in the late 20th century across four countries known as the Asian tigers (Hong Kong, Singapore, South Korea and Taiwan), thanks to the existence of stable governments and well structured societies, strategic locations, heavy foreign investments, a low cost skilled and motivated workforce, a competitive exchange rate, and low custom duties . </P> <P> In the case of South Korea, the largest of the four Asian tigers, a very fast paced industrialisation took place as it quickly moved away from the manufacturing of value - added goods in the 1950s and 60s into the more advanced steel, shipbuilding and automotive industry in the 1970s and 80s, focusing on the high - tech and service industry in the 1990s and 2000s . As a result, South Korea became a major economic power . </P>

When did the industrial revolution began in asia
find me the text answering this question