Four Asian Tigers

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The Four Asian Tigers (a.k.a. the Four Asian Dragons or Four Little Dragons in Korean and Chinese) are the developed Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. Between the early 1950s and 1990s, they underwent rapid industrialisation and maintained exceptionally high growth rates of more than 7 percent a year. By the middle 1990s, all of these economies had developed into high-income economies, specialising in areas of competitive advantage. Hong Kong and Singapore have become leading international financial centres, whereas South Korea and Taiwan are leaders in manufacturing electronic components and devices; Taiwan now produces the most advanced semiconductor chips in the world; South Korea has also developed into a major global arms manufacturer. Large institutions have pushed to have them serve as role models for many developing countries, especially the Tiger Cub Economies of Southeast Asia. In 1993, a World Bank report The East Asian Miracle credited neoliberal...

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