Another reason for China, Japan and Korea has got to be the intense focus on education, and the belief that education has (financial) value.

Singapore showcases this very well. The ethnic Chinese and the Indians are very much focused on pursuing education for their children, even back in the early colonial days and that has led to great success for that portion of the population. The Malays however, have a more idyllic bent in their cultural preferences and that has led to a more impoverished life overall in their population.

Maybe it’s because the early Chinese and Indians were imported by the British and brought with them the stereotypical immigrant work ethic while the Malays were indigenous and didn’t have the same kind of drive.