Four Asian Tigers

The Four Asian Tigers (also known as the Four Asian Dragons or Four Little Dragons in Chinese and Korean) are the economies of South Korea, Taiwan, Singapore and Hong Kong. Between the early 1960s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year.

Four Asian Tigers
The Four Asian Tigers: South Korea, Taiwan, Singapore, and Hong Kong
Chinese name
Traditional Chinese亞洲四小龍
Simplified Chinese亚洲四小龙
Literal meaningAsia's Four Little Dragons
Korean name
Hangul아시아의 네 마리 용
Hanja아시아의 네 마리 龍
Literal meaningAsia's four dragons
Malay name
MalayEmpat Harimau Asia
Tamil name
Tamilநான்கு ஆசியப் புலிகள்

By the early 21st century, these economies had developed into high-income economies, specializing in areas of competitive advantage. Hong Kong and Singapore have become leading international financial centers, whereas South Korea and Taiwan are leaders in manufacturing electronic components and devices. Their economic success have served as role models for many developing countries, especially the Tiger Cub Economies of southeast Asia.[1][2][3]

In 1993, a controversial World Bank report The East Asian Miracle credited neoliberal policies with the economic boom, including the maintenance of export-oriented policies, low taxes, and minimal welfare states. Institutional analyses found that some level of state intervention was involved.[4] Some analysts argued that industrial policy and state intervention had a much greater influence than the World Bank report suggested.[5][6]