 By the 1960s, East Asia began to make its mark on the world economy when it began growing faster than the high-income economies of the Western World and today their share accounts for one-third of the global output and one-half in PPP terms.The region now accounts for one-third of the global economic output and almost half of the recent global economic growth.With the affluence and wealth in East Asia, East Asia sees modern science and technology as a major imperative for economic advancement.