The speedy success of Hong Kong, Taiwan, Singapore, and South Korean became popularly known as the Asian Tigers. They were able to transform their poor economy to one of the world’s fastest growing countries. They provided training and education for workers and focus on exports. The Asian Tigers also promoted property rights that were able to preserve the agricultural workers’ interest. These improvements helped Hong Kong and Singapore to become world’s leading international financial centers. South Korea and Taiwan became world leaders in the field of technology. The Asian Tiger’s economic success soon became a model for other countries in Southeast Asia.
Hong Kong was able to recover quickly after years of the Opium War, the Japanese invasion and British control. A large group of refugees from midland China fled to Hong Kong to avoid the communist parties. They thought that Hong Kong was a wealthier land filled with freedom and opportunities. The increase of the population helped the economy in Hong Kong to bloom. During this period many new industries needed cheap labor force and took advantage of the increase in population. As time pass Hong Kong’s industries began to expand and trade increased greatly with help of a free port. It is one of the world’s leading financial centers with foreign banks and a busy stock market.
Taiwan an island that was once ruled by China and Japan made huge improvements in its economy. China ruled Taiwan for centuries until the Japanese took control in 1895. They modernized Taiwan by building industries and improved public education. After Wo...
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...rgest shipbuilder and the fifth largest automobile producer in the world. South Korea has one of the world’s best public transportation systems today.
The Asian tigers maintained a rapid economy and high industrialization. Taiwan's vast amounts of food helped it become a major exporter in the world. Singapore’s and Hong Kong‘s locations are perfect spots for trading centers. Singapore located right beside a major trade route and Hong Kong served as the portal between Chinese and European trade. Out of the four Asian tigers, South Korea made it into the G-20 major economies and was a member of the High-Income OECD. The four major tycoons became advanced high-income economies and made changes in current financial markets. They are still known as the one of the fastest growing developed countries today.
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