The four Asian tigers have consistently maintained high levels of economic growth since 1960, fueled by exports and rapid industrialization, which have enabled these economies to join the ranks of the world’s richest economies.
Hong Kong and Singapore are among the largest financial centers around the world, while South Korea and Taiwan are important axes of global manufacturing in automotive components and electronics, as well as information technology.
Sometimes betraying geography, imposing an economic and political reality and perhaps a future other than what many dream of. But that was shattered by four Asian countries, which have overcome all obstacles and created an economy comparable to the world’s advanced economies.
These countries are:
- Hong Kong.
- South Korea.
The four Asian tigers, who achieved an economic miracle in record time and in harsh conditions, put their names among the most powerful economies in the world.
They have become role models for developing countries that live in conditions similar to what the Tigers experienced before the economic recovery, but waiting for the qualitative jump similar to that of the Tigers, what is the title of the Asian Tigers?
What is the nature of the economic experience of each of the Asian tiger countries?
Asian tigers have made economic difference
The four Asian tigers, which emerged 40 years ago, were launched in four countries: Singapore, Taiwan, South Korea and Hong Kong. These countries achieved great economic growth and maintained the highest growth rate of 7% per year.
By the 21st century, the economies of these countries had become the refineries of the advanced and high-income economies of the world, specializing in areas of competitive advantage.
The Asian tigers have been named for these countries because the tiger has a place in Asian cultures; it is characterized by its sudden and rapid style of attacking its prey.
This was done by those countries that rose quickly and suddenly and became among the advanced industrial countries, despite the lack of internal resources in each of these countries, but it was able to economic advancement.
Where human resources have invested in the highest levels of education and the highest standards of living in the world, and the regimes that ruled in those countries directed the country’s capabilities towards economic growth, not military.