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{{short description|Economies of South Korea, Taiwan, Singapore and Hong Kong}}
The '''East Asian Tigers''', sometimes also referred to as '''Asia's Four Little Dragons''', referred to the economies of [[Republic of China|Taiwan]], [[Hong Kong]], [[South Korea]], and [[Singapore]]; these territories and nations were noted for maintaining high [[Economic_growth|growth]] rates and rapid [[industrialization]] between the early [[1960s]] and [[1990s]].
{{Infobox Chinese
| pic = Four Asian Tigers with flags.svg
| piccap = The Four Asian Tigers, from north to south: [[South Korea]], [[Taiwan]], [[Hong Kong]] and [[Singapore]]
| t = 亞洲四小龍
| s = 亚洲四小龙
| p = Yàzhōu sì xiǎo lóng
| myr = Yàzhōu sz̀ syǎu lúng
| w = {{tone superscript|Ya4-chou1 szu4 hsiao3 lung2}}
| mi = {{IPAc-cmn|ya|4|.|zh|ou|1|-|si|4|-|x|iao|3|-|l|ong|2}}
| tp = Yàjhōu sìh siǎo lóng
| bpmf = ㄧㄚˋ ㄓㄡ ㄙˋ ㄒㄧㄠˇ ㄌㄨㄥˊ
| j = aa3 zau1 sei3 siu2 lung4
| y = aa jāu sei síu lùhng
| ci = {{IPAc-yue|aa|3|-|z|au|1|-|s|ei|3||-|s|iu|2|-|l|ung|4}}
| poj = A-chiu sì sió lêng
| l = ''Asia's Four Little [[Chinese dragon|Dragons]]''
| hangul = 아시아의 네 마리 용
| hanja = 아시아의 네 마리 龍
| rr = Asiaui ne mari yong
| mr = Asiaŭi ne mari yong
| lk = ''Asia's four dragons''
| msa = Empat Harimau Asia
| tam = நான்கு ஆசியப் புலிகள்
}}
The '''Four Asian Tigers''' ({{a.k.a.}} the '''Four Asian Dragons''' or '''Four Little Dragons''' in [[Chinese language|Chinese]] and [[Korean language|Korean]]) are the developed Asian economies of [[Economy of Hong Kong|Hong Kong]], [[Economy of Singapore|Singapore]], [[Economy of South Korea|South Korea]], and [[Economy of Taiwan|Taiwan]].<ref>{{cite journal |last1=Day |first1=Dong-Ching |title=Four Asian Tigers' Political and Economic Development Revisited 1998-2017: From the Perspective of National Identity |journal=Asian Journal of Interdisciplinary Research |date=2021 |volume=4 |issue=4 |pages=54–61 |doi=10.54392/ajir2147 |doi-access=free}}</ref> Between the early [[1950s]] and [[1990s]], they underwent rapid [[Industrialisation|industrialization]] and maintained exceptionally high growth rates of more than 7 percent a year.
 
By the early 21st century, these economies had developed into [[World Bank high-income economy|high-income economies]], specializing in areas of competitive advantage. Hong Kong and Singapore have become leading international [[financial centre]]s, whereas South Korea and Taiwan are leaders in manufacturing [[electronics|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 country|developing countries]], especially the [[Tiger Cub Economies]] of Southeast Asia.<ref>
== Characteristics of the Tiger economies ==
{{Cite web
|url=http://www.afrol.com/articles/22953
|title=Can Africa really learn from Korea?
|date=24 November 2008
|publisher=Afrol News
|access-date=16 February 2009
|url-status=live
|archive-url=https://web.archive.org/web/20081216151452/http://www.afrol.com/articles/22953
|archive-date=16 December 2008
 
}}</ref><ref>{{Cite news|url=http://www.korea.net/news/news/newsView.asp?serial_no=20080301004&part=103 |title=Korea role model for Latin America: Envoy |publisher=[[Korean Culture and Information Service]] |date=1 March 2008 |access-date=16 February 2009 |url-status=dead |archive-url=https://web.archive.org/web/20090422054358/http://www.korea.net/news/news/newsView.asp?serial_no=20080301004&part=103 |archive-date=22 April 2009 }}</ref><ref>
The East Asian Tigers pursued an [[export-driven]] model of economic development; these territories and nations focused on developing goods for export to highly-industrialized nations. Domestic consumption was discouraged through government policies such as high tariffs.
{{Cite journal
|title=Korean economic growth and marketing practice progress: A role model for economic growth of developing countries
|last=Leea
|first=Jinyong
|author2=LaPlacab, Peter
|author3=Rassekh, Farhad
|journal=Industrial Marketing Management
|date=2 September 2008
|doi=10.1016/j.indmarman.2008.09.002
|volume=37
|issue=7
|pages=753–757
}}</ref>
 
In 1993, a [[World Bank]] report ''The East Asian Miracle'' credited [[Neoliberalism|neoliberal]] policies with the economic boom, including the maintenance of [[export-oriented industrialization|export-oriented policies]], low taxes and minimal [[welfare state]]s. Institutional analyses found that some level of [[Economic interventionism|state intervention]] was involved.<ref name="Dictionary human geography">
The East Asian Tigers singled out education as a means of improving [[productivity]]; these nations focused on improving the education system at all levels; heavy emphasis was placed on ensuring that all children attended elementary education and compulsory high school education. Money was also spent on improving the college and university system.
{{Cite book
|title = The Dictionary of Human Geography
|url = https://archive.org/details/dictionaryhumang00greg
|url-access = limited
|year = 2009
|publisher = Blackwell
|___location = Malden, MA
|isbn = 978-1-4051-3287-9
|edition = 5th
|editor1 = Derek Gregory
|editor2 = Ron Johnston
|editor3 = Geraldine Pratt
|editor4 = Michael J. Watts
|editor5 = Sarah Whatmore
|page = [https://archive.org/details/dictionaryhumang00greg/page/n56 38]
|chapter = Asian Miracle/tigers
}}</ref> Some analysts argued that industrial policy and state intervention had a much greater influence than the World Bank report suggested.<ref name=":1">{{Cite journal|date=1 April 1997|title=The 'paradoxes' of the successful state|journal=European Economic Review|language=en|volume=41|issue=3–5|pages=411–442|doi=10.1016/S0014-2921(97)00012-3|issn=0014-2921|last1=Rodrik|first1=Dani}}</ref><ref>{{Cite book|url=https://books.google.com/books?id=nSqXpDiQ4ggC|title=The East Asian Development Experience|last=Chang|first=Ha-Joon|isbn=9781842771419|year=2006|publisher=Zed Books |access-date=28 September 2020|archive-date=11 April 2023|archive-url=https://web.archive.org/web/20230411205409/https://books.google.com/books?id=nSqXpDiQ4ggC|url-status=live}}</ref>
 
==Overview==
Since the East Asian Tigers were relatively poor during the 1960s, these nations had an abundance of cheap labor. Coupled with educational reform, they were able to leverage this combination into a cheap, yet productive workforce.
[[File:Four Tigers GDP per capita.svg|thumb|right|upright=2|Growth in per capita GDP in the tiger economies between 1960 and 2019<ref>Data for "Real GDP at Constant National Prices" and "Population" from [https://fred.stlouisfed.org/ Economic Research at the Federal Reserve Bank of St. Louis] {{Webarchive|url=https://web.archive.org/web/20191003094020/https://fred.stlouisfed.org/ |date=3 October 2019 }}.</ref>]]
Prior to the [[1997 Asian financial crisis]], the growth of the Four Asian Tiger economies (commonly referred to as "the Asian Miracle") has been attributed to export oriented policies and strong development policies. Unique to these economies were the sustained rapid growth and high levels of equal income distribution. A World Bank report suggests two development policies among others as sources for the Asian miracle: factor accumulation and macroeconomic management.<ref name="Page 1994">{{Cite book
|given=John |surname=Page
|chapter=The East Asian Miracle: Four Lessons for Development Policy
|chapter-url=http://www.nber.org/chapters/c11011
|pages=219–269
|doi=10.1086/654251
|title=NBER Macroeconomics Annual
|volume=9
|editor1-given=Stanley |editor1-surname=Fischer
|editor2-given=Julio J. |editor2-surname=Rotemberg
|___location=Cambridge, Massachusetts |publisher = MIT Press
|year=1994
|isbn=978-0-262-06172-8
|s2cid=153796598
|url=https://www.nber.org/books/fisc94-1
|url-status=live
|archive-url=https://web.archive.org/web/20130202071659/https://www.nber.org/books/fisc94-1
|archive-date=2 February 2013
 
}}</ref>
The East Asian Tigers committed to [[egalitarianism]] in the form of [[land reform]], to promote property rights and to ensure that agricultural workers would not become disgruntled. Also, policies of agricultural subsidies and tariffs on agricultural products were implemented as well.
 
The Hong Kong economy was the first out of the four to undergo industrialization with the development of a textile industry in the 1950s. By the 1960s, manufacturing in the British colony had expanded and diversified to include clothing, electronics, and plastics for [[export-oriented industrialization|export orientation]].<ref>[http://eh.net/encyclopedia/economic-history-of-hong-kong/ "Economic History of Hong Kong"] {{webarchive|url=https://web.archive.org/web/20150417050303/http://eh.net/encyclopedia/economic-history-of-hong-kong/ |date=17 April 2015 }}, Schenk, Catherine. ''EH.net'' 16 March 2008.</ref> Following Singapore's independence from [[Malaysia]], the [[Economic Development Board]] formulated and implemented national economic strategies to promote the country's manufacturing sector.<ref>{{cite web | title = Singapore Infomap – Coming of Age | publisher = Ministry of Information, Communications and the Arts | access-date = 17 July 2006 | url = http://www.sg/explore/history_coming.htm | url-status = dead | archive-url = https://web.archive.org/web/20060713023054/http://www.sg/explore/history_coming.htm | archive-date = 13 July 2006 | df = dmy-all }}</ref> [[Industrial estate]]s were set up and foreign investment was attracted to the country with tax incentives. Meanwhile, Taiwan and South Korea began to industrialize in the mid-1960s with heavy government involvement including initiatives and policies. Both countries pursued export-oriented industrialization as in Hong Kong and Singapore.<ref name="Hunt2003">{{cite book|author=Michael H. Hunt|title=The World Transformed: 1945 to the Present|url=https://archive.org/details/worldtransformed0000hunt|url-access=registration|date=10 November 2003|publisher=Bedford/St. Martin's|isbn=978-0-312-24583-2|page=[https://archive.org/details/worldtransformed0000hunt/page/352 352]}}</ref> The four countries were inspired by Japan's evident success, and they collectively pursued the same goal by investing in the same categories: infrastructure and education. They also benefited from foreign trade advantages that set them apart from other countries, most significantly economic support from the United States, including Free [[Development aid]]; part of this is manifested in the proliferation of American electronic products in common households of the Four Tigers.<ref>[https://www.econstor.eu/bitstream/10419/93677/1/767437535.pdf Aid and development in Taiwan, South Korea, and South Vietnam By: Gray, Kevin]</ref>
The common characteristics of the East Asian Tigers are:
By the end of the 1960s, levels in physical and [[human capital]] in the four economies far exceeded other countries at similar levels of development. This subsequently led to a rapid growth in per capita income levels. While high investments were essential to their economic growth, the role of human capital was also important. Education in particular is cited as playing a major role in the Asian economic miracle. The levels of education enrollment in the Four Asian Tigers were higher than predicted given their level of income. By 1965, all four nations had achieved universal primary education.<ref name="Page 1994"/> South Korea in particular had achieved a secondary education enrollment rate of 88% by 1987.<ref name="Page 1994"/> There was also a notable decrease in the gap between male and female enrollments during the Asian miracle. Overall these advances in education allowed for high levels of literacy and cognitive skills.
*Focused on exports to richer industrialized nations
*Trade surplus with forementioned countries
*Sustained rate of double-digit growth for decades
*Non-democratic and relatively authoritarian political systems during the early years
*High tariffs on imports
*Undervalued currencies
*High level of U.S. treasury bond holdings
*High savings rate
 
The creation of stable [[macroeconomic]] environments was the foundation upon which the Asian miracle was built. Each of the Four Asian Tiger states managed, to various degrees of success, three variables in: [[budget deficits]], [[external debt]] and [[exchange rates]]. Each Tiger nation's budget deficits were kept within the limits of their financial limits, as to not destabilize the macro-economy. South Korea in particular had deficits lower than the [[OECD]] average in the 1980s. External debt was non-existent for Hong Kong, Singapore and Taiwan, as they did not borrow from abroad.<ref name="Page 1994"/> Although South Korea was the exception to this – its debt to GNP ratio was quite high during the period 1980–1985, it was sustained by the country's high level of exports. Exchange rates in the Four Asian Tiger nations had been changed from long-term fixed rate regimes to fixed-but-adjustable rate regimes with the occasional steep devaluation of managed floating rate regimes.<ref name="Page 1994"/> This active exchange rate management allowed the Four Tiger economies to avoid exchange rate appreciation and maintain a stable real exchange rate.
== Criticism of the export-driven trade model ==
 
Export policies have been the de facto reason for the rise of these Four Asian Tiger economies. The approach taken has been different among the four nations. Hong Kong, and Singapore introduced trade regimes that were neoliberal in nature and encouraged free trade, while South Korea and Taiwan adopted mixed regimes that accommodated their own export industries. In Hong Kong and Singapore, due to small domestic markets, domestic prices were linked to international prices. South Korea and Taiwan introduced export incentives for the traded-goods sector. The governments of Singapore, South Korea and Taiwan also worked to promote specific exporting industries, which were termed as an export push strategy. All these policies helped these four nations to achieve a growth averaging 7.5% each year for three decades and as such they achieved [[developed country]] status.<ref name="Economist 2009">{{Cite news
The East Asian Tigers were strongly affected by the [[Asian Economic Crisis]], which impacted each Tiger to varying degrees. While Taiwan was not as strongly affected, South Korea was badly battered by the crisis. Because of the focus on export-driven growth, many of the Tigers became caught up in a game of currency devaluation.
|title=Troubled Tigers
|year=2009
|newspaper=The Economist
|volume=390
|issue=8616
|pages=75–77
|url=https://www.economist.com/briefing/2009/01/29/troubled-tigers
|author=Anonymous
|access-date=6 September 2018
|archive-url=https://web.archive.org/web/20181122141754/https://www.economist.com/briefing/2009/01/29/troubled-tigers
|archive-date=22 November 2018
|url-status=live
}}</ref>
 
Dani Rodrik, economist at the John F. Kennedy School of Government at Harvard University, has in a number of studies argued that state intervention was important in the East Asian growth miracle.<ref>{{Cite journal|last1=Rodrik|first1=Dani|last2=Grossman|first2=Gene|last3=Norman|first3=Victor|date=1995|title=Getting Interventions Right: How South Korea and Taiwan Grew Rich|jstor=1344538|journal=Economic Policy|volume=10|issue=20|pages=55–107|doi=10.2307/1344538|s2cid=56207031|url=http://www.nber.org/papers/w4964.pdf|access-date=27 August 2019|archive-url=https://web.archive.org/web/20180602114911/http://www.nber.org/papers/w4964.pdf|archive-date=2 June 2018|url-status=live}}</ref><ref name=":1" /> He has argued "it is impossible to understand the East Asian growth miracle without appreciating the important role that government policy played in stimulating private investment".<ref name=":1" />
The current criticism of the East Asian Tigers is that these economies focus exclusively on export-demand, at the cost of import-demand. Thus, these economies are heavily reliant on the economic health of their targeted export nations.
 
=== 1997 Asian financial crisis ===
In addition, these nations have met difficulties after their initial competitive edge, cheap productive labor, no longer exists, especially with the emergence of India and China.
The Tiger economies experienced a setback in the [[1997 Asian financial crisis]]. Hong Kong came under intense speculative attacks against its stock market and currency necessitating unprecedented market interventions by the state [[Hong Kong Monetary Authority]]. South Korea was hit the hardest as its foreign debt burdens swelled resulting in its currency falling between 35 and 50%.<ref name="Pam Woodall 1998 S3-S5">{{Cite news
|title=East Asian Economies: Tigers adrift
|newspaper=The Economist
|year=1998
|publisher=The Economist Intelligence Unit
|___location=London; US
|issn=0013-0613
|pages=S3–S5
|author=Pam Woodall
|id={{ProQuest|224090151}}
}}</ref> By the beginning of 1997, the stock market in Hong Kong, Singapore, and South Korea also saw losses of at least 60% in dollar terms. Singapore and Taiwan were relatively unscathed. The Four Asian Tigers recovered from the 1997 crisis faster than other countries due to various economic advantages including their high savings rate (except South Korea) and their openness to trade.<ref name="Pam Woodall 1998 S3-S5"/>
 
=== Comparison2008 withfinancial Indiacrisis ===
The export-oriented tiger economies, which benefited from American consumption, were hit hard by the [[2008 financial crisis]]. By the fourth quarter of 2008, the GDP of all four nations fell by an average annualized rate of around 15%.<ref name="Economist 2009"/>
Exports also fell by a 50% annualized rate.<ref name="Economist 2009"/>
Weak domestic demand also affected the recovery of these economies. In 2008, retail sales fell 3% in Hong Kong, 6% in Singapore and 11% in Taiwan.<ref name="Economist 2009"/>
 
As the world recovered from the [[2008 financial crisis]], the Four Asian Tiger economies have also rebounded strongly. This is due in no small part to each country's government fiscal stimulus measures. These fiscal packages accounted for more than 4% of each country's GDP in 2009.<ref name="Economist 2009"/>
India has not had a land reform as consistent and thorough as
Another reason for the strong bounce back is the modest corporate and household debt in these four nations.<ref name="Economist 2009"/>
Korea's or Taiwan's. (Singapore and Hong Kong are cities.)
 
A 2011 article published in ''Applied Economics Letters'' by financial economist Mete Feridun of University of Greenwich Business School and his international colleagues investigates the causal relationship between financial development and economic growth for [[Thailand]], [[Indonesia]], [[Malaysia]], the [[Philippines]], China, [[India]] and Singapore for the period between 1979 and 2009, using [[Johansen cointegration test]]s and vector [[error correction model]]s. The results suggest that in the case of Indonesia, Singapore, the Philippines, China and India financial development leads to economic growth, whereas in the case of Thailand there exists a bidirectional causality between these variables. The results further suggest that in the case of Malaysia, financial development does not seem to cause economic growth.<ref>{{cite journal |surname1=Mukhopadhyaya |given1=Bidisha |surname2=Pradhana |given2=Rudra P. |surname3=Feridun |given3=Mete |year=2011 |title=Finance-growth nexus revisited for some Asian countries |journal=Applied Economics Letters |volume=18 |issue=6 |pages=1527–1530 |doi=10.1080/13504851.2010.548771|s2cid=154797937 }}</ref>
India already has a large intellectual and educated class
able to export services. This will assist the transition and evidence of it can already be seen with the growth of the software and call center industries. If the intellectual class can grow and create consumer demand for home produced items, as they appear to be doing, this will benefit skilled worker class and speed up the transition. India is on the path of continous development. Its policy of development is not similar to the policies of [[Asian Tigers]]. The current flow of [[FDI]] stands at 50 [[billion]] [[dollars]] for the year [[2003]]-[[2004]].It is expected to become the fourth largest economy by [[2020]].
 
== Gross domestic product (GDP) ==
Some scholars maintain that the success of the four tigers is related to a [[Confucius|Confucian]] ethos, and that India, with its largely [[Hindu]] religious/cultural background will have difficulties replicating their results. Others maintain that the development of [[India]] has refuted this claim.
[[File:Worlds regions by total wealth(in trillions USD), 2018.jpg|thumb|250px|Worlds regions by total wealth (in trillions USD), 2018]]
[[File:Maddison GDP per capita Four Asian Tigers 1950-2018.svg|thumb|250px|Maddison GDP per capita of the Four Asian Tigers from 1950 to 2018]]
In 2018, the combined economy of the Four Asian Tigers constituted 3.46% of the world's economy with a total Gross domestic product (GDP) of 2,932&nbsp;billion US dollars. The GDP in Hong Kong, Singapore, South Korea and Taiwan was worth 363.03&nbsp;billion, 361.1&nbsp;billion, 1,619.42&nbsp;billion and 589.39&nbsp;billion US dollars respectively in 2018, which represented 0.428%, 0.426%, 1.911% and 0.696% of the world economy. Together, their combined economy surpassed the United Kingdom's GDP of 3.34% of the world's economy some time in the mid-2010s. In 2021, each of the Four Asian Tigers' GDP Per capita (nominal) exceeds $30,000 according to [[IMF]]'s estimate.
 
<gallery mode="packed" style="text-align: center;" caption="Skylines of the Four Tigers" heights="150px" perrow="2">
== Comparison with mainland China ==
File:Skylines of the Central Business District, Singapore at dusk.jpg|[[Singapore]]
File:Seoul (175734251) (cropped).jpg|[[Seoul]], South Korea
</gallery>
<gallery mode="packed" style="text-align: center;" heights="150px" perrow="2">
File:Hong Kong Night view.jpg|[[Hong Kong]]
File:Taipei Night Skyline 20230402.jpg|[[Taipei]], Taiwan
</gallery>
 
== Education and technology ==
Comparison between [[mainland China]] and the Tigers can be divided between the [[Maoism|Maoist]] era and the [[Chinese economic reform|era of reform]] starting with [[Deng Xiaoping]]. The main question that has been raised with respect to the Maoist era is to what extent the economic performance of the Tigers was reproducible in Mainland China in the 1960s. The main question that has been raised with respect to the post-Maoist era is to what extent the development of the PRC is sustainable.
The four governments focused on investing heavily in their infrastructure as well as education to benefit their country through skilled workers and higher level jobs such as engineers and doctors. The policy was generally successful and helped develop the countries into more [[Developed country#IMF advanced economies|advanced]] and [[High income economy|high-income]] industrialized [[developed countries]]. For example, all four countries have become global education centers with Singapore, Taiwan, South Korea and Hong Kong high school students scoring well on math and science exams such as the [[Programme for International Student Assessment|PISA exam]]{{Citation needed|date=December 2021}} and with Taiwanese students winning several medals in International Olympiads.<ref>* {{cite news|url=http://focustaiwan.tw/news/aedu/201708060014.aspx|title=Taiwan team wins gold at International Linguistic Olympiad|date=6 August 2017|first1=Tai|last1=Ya-chen|first2=S.C.|last2=Chang|publisher=The Central News Agency|work=Focus Taiwan|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170807070553/http://focustaiwan.tw/news/aedu/201708060014.aspx|archivedate=7 August 2017|df=dmy-all}}
* {{cite news|url=http://taiwantoday.tw/news.php?unit=10,10,10&post=119180|title=Taiwan students excel at International Biology Olympiad|date=31 July 2017|publisher=Ministry of Foreign Affairs, Republic of China|work=Taiwan Today|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170806222306/http://taiwantoday.tw/news.php?unit=10%2C10%2C10&post=119180|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=http://taiwantoday.tw/news.php?unit=2,6,10,15,18&post=118517|title=Taiwan students shine at International Chemistry Olympiad|date=17 July 2017|publisher=Ministry of Foreign Affairs, Republic of China|work=Taiwan Today|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170807021029/http://taiwantoday.tw/news.php?unit=2%2C6%2C10%2C15%2C18&post=118517|archivedate=7 August 2017|df=dmy-all}}
* {{cite news|url=http://focustaiwan.tw/news/aedu/201707220013.aspx|title=Taiwan wins 6 medals at Math Olympiad in Brazil|date=22 July 2017|first1=Chen|last1=Chih-chung|first2=Romulo|last2=Huang|publisher=The Central News Agency|work=Focus Taiwan|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170806222051/http://focustaiwan.tw/news/aedu/201707220013.aspx|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=https://www.forbes.com/sites/maureensullivan/2016/11/30/who-has-the-smartest-math-and-science-students-singapore/#79a59f291913|title=Who Has The Smartest Math And Science Students? Singapore|first=Maureen|last=Sullivan|date=30 November 2016|work=[[Forbes]]|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170815185934/https://www.forbes.com/sites/maureensullivan/2016/11/30/who-has-the-smartest-math-and-science-students-singapore/#79a59f291913|archivedate=15 August 2017|df=dmy-all}}
* {{cite news|url=https://www.bbc.com/news/education-38212070|title=Pisa tests: Singapore top in global education rankings|first=Sean|last=Couglan|date=6 December 2016|work=[[BBC News]]|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170717162717/http://www.bbc.com/news/education-38212070|archivedate=17 July 2017|df=dmy-all}}
* {{cite news|url=http://www.businessinsider.com/the-10-smartest-countries-based-on-math-and-science-2015-5|title=The 10 smartest countries based on math and science|first=Matthew|last=Speiser|date=13 May 2015|work=Business Insider|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170806222412/http://www.businessinsider.com/the-10-smartest-countries-based-on-math-and-science-2015-5|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=https://www.usnews.com/news/best-countries/articles/2016-12-06/2015-pisa-scores-are-no-surprise|title=The Best Students in the World|first=Deidre|last=McPhillips|date=6 December 2016|accessdate=16 August 2017|work=US News|url-status=live|archiveurl=https://web.archive.org/web/20170806220954/https://www.usnews.com/news/best-countries/articles/2016-12-06/2015-pisa-scores-are-no-surprise|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=http://www.businessinsider.com/pisa-worldwide-ranking-of-math-science-reading-skills-2016-12|title=The latest ranking of top countries in math, reading, and science is out — and the US didn't crack the top 10|first1=Abby|last1=Jackson|first2=Andy|last2=Kiersz|date=6 December 2016|work=Business Insider|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170806222216/http://www.businessinsider.com/pisa-worldwide-ranking-of-math-science-reading-skills-2016-12|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=http://www.chinapost.com.tw/taiwan/national/national-news/2016/12/11/486406/taiwanese-students.htm|title=Taiwanese students sweep olympiad to finish in first place|date=11 December 2016|work=The China Post|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170806222148/http://www.chinapost.com.tw/taiwan/national/national-news/2016/12/11/486406/taiwanese-students.htm|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=http://www.taipeitimes.com/News/taiwan/archives/2011/07/18/2003508529|title=Taiwanese win gold at Biology Olympiad|date=18 July 2011|work=The Taipei Times|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170806221019/http://www.taipeitimes.com/News/taiwan/archives/2011/07/18/2003508529|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=http://www.taiwannews.com.tw/en/news/2525699|title=Taiwan crowned International Biology Olympiad champion|date=12 July 2014|accessdate=16 August 2017|work=Taiwan News|url-status=live|archiveurl=https://web.archive.org/web/20170807020319/http://www.taiwannews.com.tw/en/news/2525699|archivedate=7 August 2017|df=dmy-all}}
* {{cite news|url=http://www.taiwannews.com.tw/en/news/2773257|title=Taiwan wins 3 gold medals, 1 silver at Biology Olympiad|date=19 July 2015|accessdate=16 August 2017|work=Taiwan News|url-status=live|archiveurl=https://web.archive.org/web/20170806222704/http://www.taiwannews.com.tw/en/news/2773257|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=http://www.taiwannews.com.tw/en/news/2261871|title=Taiwan wins 1 gold, 3 silvers at International Biology Olympiad|date=21 July 2013|work=Taiwan News|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170806221438/http://www.taiwannews.com.tw/en/news/2261871|archivedate=6 August 2017|df=dmy-all}}
* {{cite news|url=http://english.moe.gov.tw/ct.asp?xItem=16329&ctNode=11414&mp=2012|title=Taiwan Wins Four Gold Medals at International Biology Olympiad|date=7 December 2014|publisher=Ministry of Education, Republic of China|accessdate=16 August 2017|url-status=live|archiveurl=https://web.archive.org/web/20170806221156/http://english.moe.gov.tw/ct.asp?xItem=16329&ctNode=11414&mp=2012|archivedate=6 August 2017|df=dmy-all}}</ref>
 
In relation to higher-level education, there are many prestigious colleges as in most developed countries. In the 2023 [[QS World University Rankings|QS University Rankings]], the top 100 universities in the world include 5 universities from Hong Kong, 6 universities from South Korea, 2 from Singapore and 1 from Taiwan. Despite the small populations and the relatively short history of universities in the four countries, they together account for a quarter of the top 100 universities located outside of the [[United States]] or the [[United Kingdom]]. Notable schools include the [[National Taiwan University]], [[Chinese University of Hong Kong]], [[The Hong Kong University of Science and Technology]], [[Seoul National University]], [[National University of Singapore]], [[Nanyang Technological University]] and [[University of Hong Kong]]. The cities of Hong Kong, Singapore and Seoul are prominent hubs in higher education.
An important question is the relevance of the experience of the Tigers to current economic growth in Mainland China. In the 1980s it was common to argue that the export-centered growth of the Tigers was of limited relevance to Mainland China because the Tigers were small and any effort to mimic them would result in more exports than the developed world could handle. This objection was later less often raised since the pattern of economic growth has been for exports to trigger economic growth in the coastal regions, and for these coastal regions to serve as markets and triggers for growth in the interior.
 
== Cultural basis ==
Since the late 1990s, some of the heat has dissipated from this debate, in part because its become of more historical than current interest: as a result of the Deng Xiaoping reforms, the PRC has one of the world's highest rates of per capita [[Gross domestic product|GDP]] growth (if not the highest). Furthermore, the [[Communist Party of China]] and [[Kuomintang]] today both view [[Taiwan independence]] as a common adversary and are much less likely to assert superiority over the other.
The role of [[Confucianism]] has been used to explain the success of the Four Asian Tigers. This conclusion is similar to the [[Protestant work ethic]] theory in the West promoted by German sociologist [[Max Weber]] in his book ''[[The Protestant Ethic and the Spirit of Capitalism]]''. The [[East Asian cultural sphere|culture of Confucianism]] is said to have been compatible with industrialization because it valued stability, hard work, discipline, and loyalty and respect towards authority figures.<ref name="L">{{cite book|last=Lin|first=Justin Yifu|title=Demystifying the Chinese Economy|url=https://books.google.com/books?id=rxzJoskK_rwC&pg=PA107|date=27 October 2011|publisher=Cambridge University Press|isbn=978-0-521-19180-7|page=107|url-status=live|archive-url=https://web.archive.org/web/20160729074006/https://books.google.com/books?id=rxzJoskK_rwC&pg=PA107|archive-date=29 July 2016}}</ref> There is a significant influence of Confucianism on the corporate and political institutions of the Asian Tigers. Prime Minister of Singapore [[Lee Kuan Yew]] advocated [[Asian values]] as an alternative to the influence of Western culture in Asia.<ref name="Dub">{{cite book|last=DuBois|first=Thomas David|title=Religion and the Making of Modern East Asia|url=https://books.google.com/books?id=7NH4Jeh5QG4C&pg=PA227|date=25 April 2011|publisher=Cambridge University Press|isbn=978-1-139-49946-0|pages=227–228|url-status=live|archive-url=https://web.archive.org/web/20160103032318/https://books.google.com/books?id=7NH4Jeh5QG4C&pg=PA227|archive-date=3 January 2016}}</ref> This theory was not without its critics. There was a lack of mainland Chinese economic success during the same time frame as the Four Tigers, and yet China was the birthplace of Confucianism. During the [[May Fourth Movement]] of 1919, Confucianism was blamed for China's inability to compete with Western powers.<ref name="L"/>
 
In 1996, the economist Joseph Stiglitz pointed out that, ironically, "not that long ago, the Confucian heritage, with its emphasis on traditional values, was cited as an explanation for why these countries had not grown."<ref>[http://documents.worldbank.org/curated/en/786661468245419348/pdf/765590JRN0WBRO00Box374378B00PUBLIC0.pdf Some Lessons from the East Asian Miracle] {{Webarchive|url=https://web.archive.org/web/20180929035245/http://documents.worldbank.org/curated/en/786661468245419348/pdf/765590JRN0WBRO00Box374378B00PUBLIC0.pdf |date=29 September 2018 }}, a 27-page paper published by the World Bank, Joseph E. Stiglitz, Aug. 1996. In addition to the Four Asian Tigers, Stiglitz also lists the economies of Japan, Indonesia, Malaysia, and Thailand as part of the East Asian Miracle.</ref>
Ironically, and to the chagrin of many Westerners, it is now common for the Communist Party of China to use the experience of the Asian Tigers as justification for its authoritarian rule. The argument by the Party is that at the current stage of economic development the PRC needs a non-democratic system similar to those that the Tigers had in the early years of growth.
 
== Taiwan:Territory Aand caseregion studydata ==
{{Update|part=Territory and region data|date=June 2024}}
 
===Credit ratings===
During the [[Cold War]], Taiwan, which had much stronger economic growth than the [[People's Republic of China]], was presented as an example of the triumph of [[capitalism]] over [[communist state|communism]].
{| class="wikitable sortable" border="1" style="font-size:100%"
|- style="background:#ececec;"
! Country or <br />[[Territory (country subdivision)|territory]]
! [[Fitch Ratings|Fitch]]
! [[Moody's Investors Service|Moody's]]
! [[Standard & Poor's|S&P]]
|-
| style="text-align:left;" | Hong Kong
| align="center" | AA<ref name="FitchHK">{{cite web |title=Hong Kong Credit Ratings |url=https://www.fitchratings.com/entity/hong-kong-80442197 |website=Fitch Ratings |access-date=6 April 2020 |archive-date=6 February 2021 |archive-url=https://web.archive.org/web/20210206115149/https://www.fitchratings.com/entity/hong-kong-80442197 |url-status=live }}</ref>
| align="center" | Aa2<ref name="MoodysHK">{{cite news |title=Rating Action: Moody's changes outlook on Hong Kong's Aa2 rating to negative from stable; affirms rating |url=https://www.moodys.com/research/Moodys-changes-outlook-on-Hong-Kongs-Aa2-rating-to-negative--PR_409149 |access-date=6 April 2020 |work=Moody's Investors Service |date=16 September 2019 |archive-date=26 November 2020 |archive-url=https://web.archive.org/web/20201126045745/https://www.moodys.com/research/Moodys-changes-outlook-on-Hong-Kongs-Aa2-rating-to-negative--PR_409149 |url-status=live }}</ref>
| align="center" | AA+<ref name="S&PHK">{{cite news |last1=Sin |first1=Noah |title=S&P keeps Hong Kong's AA+ rating despite protests, cites strong finances |url=https://www.reuters.com/article/us-hongkong-protests-ratings/sp-keeps-hong-kongs-aa-rating-despite-protests-cites-strong-finances-idUSKBN1WN14Z |access-date=6 April 2020 |work=Reuters |agency=Reuters |date=8 October 2019 |language=en |archive-date=4 March 2020 |archive-url=https://web.archive.org/web/20200304001837/https://www.reuters.com/article/us-hongkong-protests-ratings/sp-keeps-hong-kongs-aa-rating-despite-protests-cites-strong-finances-idUSKBN1WN14Z |url-status=live }}</ref>
|-
| style="text-align:left;" | Singapore
| align="center" bgcolor=#ccffcc| AAA<ref name="FitchSG">{{cite web |title=Singapore Credit Ratings |url=https://www.fitchratings.com/entity/singapore-80442205 |website=Fitch Ratings |access-date=6 April 2020 |archive-date=6 February 2021 |archive-url=https://web.archive.org/web/20210206121605/https://www.fitchratings.com/entity/singapore-80442205 |url-status=live }}</ref>
| align="center" bgcolor=#ccffcc| Aaa<ref name="MoodysSG">{{cite news |title=Rating Action: Moody's affirms Singapore's Aaa ratings; maintains stable outlook |url=https://www.moodys.com/research/Moodys-affirms-Singapores-Aaa-ratings-maintains-stable-outlook--PR_390670 |access-date=6 April 2020 |work=Moody's Investors Service |date=12 November 2018 |archive-date=6 February 2021 |archive-url=https://web.archive.org/web/20210206115241/https://www.moodys.com/research/Moodys-affirms-Singapores-Aaa-ratings-maintains-stable-outlook--PR_390670 |url-status=live }}</ref>
| align="center" bgcolor=#ccffcc| AAA
|-
| style="text-align:left;" | South Korea
| align="center" | AA−<ref name="FitchKO">{{cite web |title=Korea Credit Ratings |url=https://www.fitchratings.com/entity/korea-80442218 |website=Fitch Ratings |access-date=6 April 2020 |archive-date=6 February 2021 |archive-url=https://web.archive.org/web/20210206115308/https://www.fitchratings.com/entity/korea-80442218 |url-status=live }}</ref>
| align="center" | Aa2<ref name="MoodysKO">{{cite news |title=Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Korea, Government of |url=https://www.moodys.com/research/Moodys-announces-completion-of-a-periodic-review-of-ratings-of--PR_415646 |access-date=6 April 2020 |work=Moody's Investors Service |date=15 February 2020 |archive-date=10 February 2021 |archive-url=https://web.archive.org/web/20210210183009/https://www.moodys.com/research/Moodys-announces-completion-of-a-periodic-review-of-ratings-of--PR_415646 |url-status=live }}</ref>
| align="center" | AA<ref name="S&PKO">{{cite news |title=S&P keeps Korea's rating at AA with stable outlook |url=https://en.yna.co.kr/view/AEN20191106011100320 |access-date=6 April 2020 |work=[[Yonhap News Agency]] |agency=Yonhap News Agency |date=6 November 2019 |language=en |archive-date=6 November 2019 |archive-url=https://web.archive.org/web/20191106162612/https://en.yna.co.kr/view/AEN20191106011100320 |url-status=live }}</ref>
|-
| style="text-align:left;" | Taiwan
| align="center" | AA<ref name="FitchTW">{{cite web |title=Taiwan - Credit Rating |url=https://www.fitchratings.com/research/sovereigns/fitch-upgrades-taiwan-china-to-aa-outlook-stable-10-09-2021#:~:text=Fitch%20Ratings%20%2D%20Hong%20Kong%20%2D%2010,The%20Outlook%20is%20Stable. |website=fitchratings.com |access-date=11 September 2021 |archive-date=30 November 2021 |archive-url=https://web.archive.org/web/20211130190325/https://www.fitchratings.com/research/sovereigns/fitch-upgrades-taiwan-china-to-aa-outlook-stable-10-09-2021#:~:text=Fitch%20Ratings%20%2D%20Hong%20Kong%20%2D%2010,The%20Outlook%20is%20Stable. |url-status=live }}</ref>
| align="center" | Aa3<ref name="MoodysTW">{{cite news |title=Moody's announces completion of a periodic review of ratings of Taiwan, Government of |url=https://www.moodys.com/research/Moodys-announces-completion-of-a-periodic-review-of-ratings-of--PR_415629 |access-date=6 April 2020 |work=Moody's Investors Service |date=15 February 2020 |archive-date=26 July 2020 |archive-url=https://web.archive.org/web/20200726170801/https://www.moodys.com/research/Moodys-announces-completion-of-a-periodic-review-of-ratings-of--PR_415629 |url-status=live }}</ref>
| align="center" | AA+<ref name="S&PTW">{{cite news |title=S&P raises Taiwan's long-term issuer credit ratings on strong economic performance |url=https://www.reuters.com/article/taiwan-economy-ratings-idINL3N2WR0SG |access-date=9 May 2022 |work=Reuters |date=29 April 2022 |archive-date=9 May 2022 |archive-url=https://web.archive.org/web/20220509201645/https://www.reuters.com/article/taiwan-economy-ratings-idINL3N2WR0SG |url-status=live }}</ref>
|}
 
=== Demographics ===
The Asian Tigers&#8217; spectacular ascent to economic prominence attracted much comment. Some Western economists, notably at the [[World Bank]], depicted it as a vindication of free-market principles, and this interpretation of the Tigers' success formed large part of the [[Washington consensus]].
{| class="wikitable sortable" border="1"
|- style="background:#ececec;"
! Country or <br />[[Territory (country subdivision)|territory]]
! [[List of countries and outlying territories by total area|Area]]<br>(km<sup>2</sup>)
! [[List of countries by population|Population]]<br />(2020)<ref name="WorldPopulationbyCountry">{{cite web|title=Countries in the world by population (2022)|url=https://www.worldometers.info/world-population/population-by-country/|website=worldometers|access-date=2 June 2022|archive-date=5 January 2018|archive-url=https://web.archive.org/web/20180105162622/http://www.worldometers.info/world-population/population-by-country/|url-status=live}}</ref>
! [[List of countries by population density|Population<br>density]]<br />(per km<sup>2</sup>)
! [[List of countries by life expectancy|Life<br>expectancy at birth]]<br />(2020)<ref name="LifeExpectancyofWorldPopulation">{{cite web|title=Life Expectancy of the World Population|url=https://www.worldometers.info/demographics/life-expectancy/|website=worldometers|access-date=2 June 2022|archive-date=31 March 2022|archive-url=https://web.archive.org/web/20220331172003/https://www.worldometers.info/demographics/life-expectancy/|url-status=live}}</ref>
! [[List of countries by median age|Median<br>age]]<br />(2020)
! [[List of sovereign states and dependent territories by birth rate|Birth rate]]<br />(2015)
! [[List of sovereign states and dependent territories by mortality rate|Death rate]]<br />(2023)
! [[List of sovereign states and dependencies by total fertility rate|Fertility<br>rate]]<br />(2020)
! [[List of countries by net migration rate|Net<br>migration<br>rate]]<br />(2015–2020)
! [[List of countries by population growth rate|Population<br>growth rate]]<br />(2023)
|-
| style="text-align:left;" | Hong Kong
| align="center" | 1,106
| align="center" | 7,496,981
| align="center" | 7,140
| align="center" bgcolor=#ccffcc| 85.29
| align="center" | 45
| align="center" | 0.8%
| align="center" | 0.80%
| align="center" | 0.87<ref>[https://fred.stlouisfed.org/series/SPDYNTFRTINHKG Fertility Rate, Total for Hong Kong SAR, China] {{Webarchive|url=https://web.archive.org/web/20221122230310/https://fred.stlouisfed.org/series/SPDYNTFRTINHKG |date=22 November 2022 }} Economic Research. Retrieved 22 November 2022.</ref>
| align="center" | 0.40%
| align="center" bgcolor=#ccffcc| 0.15
|-
| style="text-align:left;" | Singapore
| align="center" | 728
| align="center" | 5,850,342
| align="center" bgcolor=#ccffcc| 8,358
| align="center" | 84.07
| align="center" bgcolor=#ccffcc| 42
| align="center" bgcolor=#ccffcc| 0.9%
| align="center" bgcolor=#ccffcc| 0.42%
| align="center" bgcolor=#ccffcc| 1.10<ref>[https://fred.stlouisfed.org/series/SPDYNTFRTINSGP Fertility Rate, Total for Singapore] {{Webarchive|url=https://web.archive.org/web/20221122230310/https://fred.stlouisfed.org/series/SPDYNTFRTINSGP |date=22 November 2022 }} Economic Research. Retrieved 22 November 2022.</ref>
| align="center" bgcolor=#ccffcc| 0.47%
| align="center" | 0.90
|-
| style="text-align:left;" | South Korea
| align="center" bgcolor=#ccffcc| 100,210
| align="center" bgcolor=#ccffcc| 51,269,185
| align="center" | 527
| align="center" | 83.50
| align="center" | 44
| align="center" | 0.8%
| align="center" | 0.73%
| align="center" | 0.84<ref>{{Cite web |url=https://www.kedglobal.com/dwindling-population/newsView/ked202102250004 |title=S.Korea's birth rate decline accelerates to world's lowest |access-date=22 November 2022 |archive-date=22 November 2022 |archive-url=https://web.archive.org/web/20221122230311/https://www.kedglobal.com/dwindling-population/newsView/ked202102250004 |url-status=live }}</ref>
| align="center" | 0.02%
| align="center" | 0.23
|-
| style="text-align:left;" | Taiwan
| align="center" | 36,197
| align="center" | 23,816,775
| align="center" | 673
| align="center" | 81.04
| align="center" bgcolor=#ccffcc| 42
| align="center" | 0.8%
| align="center" | 0.80%
| align="center" | 0.99<ref>{{Cite web |url=https://new7.storm.mg/article/4117528 |title=婚育危機1》人口「生不如死」爆國安危機 各級政府對應卻如「扮家家酒」 |access-date=22 November 2022 |archive-date=22 November 2022 |archive-url=https://web.archive.org/web/20221122230312/https://new7.storm.mg/article/4117528 |url-status=live }}</ref>
| align="center" | 0.13%
| align="center" | 0.03
|}
 
=== Economy ===
This view is not without controversy. Many economists have pointed out that the governments of the tigers were quite active in their economies. East Asian Tigers all practiced aggressive land reform and made large investments in public health and elementary education. In addition, while the tigers relied on export markets to develop their economies, they also put in place high trade barriers which protected local industries from foreign competition.
{| class="wikitable sortable" border="1" style="font-size:100%"
|- style="background:#ececec;"
! rowspan=2|Country or <br />[[Territory (country subdivision)|territory]]
! colspan=2|GDP (millions of USD, 2024)
! colspan=2|GDP per capita (USD, 2024)
! rowspan=2| [[International trade|Trade]]<br />(billions of<br>USD, 2023)
! colspan=2|(billions of USD, 2023)
! rowspan=2|[[List of countries by industrial production growth rate|Industrial<br>growth<br>rate (%)]] (2023)
! rowspan=2|Currency
|-
! [[List of countries by GDP (nominal)|Nominal]]
! [[List of countries by GDP (PPP)|PPP]]
! [[List of countries by GDP (nominal) per capita|Nominal]]
! [[List of countries by GDP (PPP) per capita|PPP]]
! [[List of countries by exports|Exports]]
! [[List of countries by imports|Imports]]
|-
| style="text-align:left;" | Hong Kong
| align="center" | 422,057
| align="center" | 569,830
| align="center" | 53,165
| align="center" | 75,128
| align="center" | 1,416
| align="center" | 673.3
| align="center" | 669.1
| align="center" bgcolor=#ccffcc| 5.1
| align="center" | [[Hong Kong dollar]]
|-
| style="text-align:left;" | Singapore
| align="center" | 561,725
| align="center" | 879,980
| align="center" bgcolor=#ccffcc| 89,370
| align="center" bgcolor=#ccffcc| 148,186
| align="center" | 917
| align="center" bgcolor=#ccffcc| 778.0
| align="center" | 475.5
| align="center" | -2.9
| align="center" | [[Singapore dollar]]
|-
| style="text-align:left;" | South Korea
| align="center" bgcolor=#ccffcc| 1,947,133
| align="center" bgcolor=#ccffcc| 3,260,000
| align="center" | 36,132
| align="center" | 62,960
| align="center" bgcolor=#ccffcc| 1,663
| align="center" | 769.5
| align="center" bgcolor=#ccffcc| 738.4
| align="center" | -1.1
| align="center" | [[South Korean won]]
|-
| style="text-align:left;" | Taiwan
| align="center" | 814,438
| align="center" | 1,840,000
| align="center" | 33,234
| align="center" | 79,031
| align="center" | 1,005
| align="center" | 536.1
| align="center" | 437.3
| align="center" | 3.9
| align="center" | [[New Taiwan dollar]]
|}
 
=== Quality of life ===
Some Western observers have argued that the Mainland would have reached Taiwan's contemporary level of development if the Kuomintang had stayed in power. However, this claim has been discredited by those citing that Taiwan is by no means a microcosm of the Mainland.
{| class="wikitable sortable" border="1" style="font-size:100%"
|- style="background:#ececec;"
! Country or <br />[[Territory (country subdivision)|territory]]
! [[List of countries by Human Development Index|Human Development Index]]<br /> (2021 data)
! [[List of countries by income equality|Income inequality]]<br /> by [[Gini coefficient]]
! [[Developed country#Gallup median household and per-capita income|Median household income]]<br />(2013), USD PPP<ref name="gallup, inc.">{{cite web|url=http://www.gallup.com/poll/166211/worldwide-median-household-income-000.aspx|title=Worldwide, Median Household Income About $10,000|author=Gallup, Inc.|website=gallup.com|date=16 December 2013|url-status=live|archive-url=https://web.archive.org/web/20160205015909/http://www.gallup.com/poll/166211/worldwide-median-household-income-000.aspx|archive-date=5 February 2016}}</ref>
! [[Developed country#Gallup median household and per-capita income|Median per-capita income]]<br />(2013), USD PPP<ref name="gallup, inc."/>
! [[Gallup (company)|Global Well Being Index]]<br />(2010), % thriving<ref>{{cite news|url=http://www.gallup.com/file/poll/126965/GlobalWellbeing_Rpt_POLL_0310_lowres.pdf|title=Gallup® Global Wellbeing: The Behavioral Economics of GDP Growth|publisher=Gallup|access-date=16 August 2017|archive-url=https://web.archive.org/web/20150924020602/http://www.gallup.com/file/poll/126965/GlobalWellbeing_Rpt_POLL_0310_lowres.pdf|archive-date=24 September 2015|url-status=dead}}</ref>
|-
| style="text-align:left;" | Hong Kong
| align="center" bgcolor=#ccffcc | 0.952 (4th)
| align="center" | 53.9 (2016)
| align="center" | 35,443
| align="center" | 9,705
| align="center" | 19%
|-
| style="text-align:left;" | Singapore
| align="center" | 0.939 (12th)
| align="center" | 46.4 (2014)
| align="center" | 32,360
| align="center" | 7,345
| align="center" | 19%
|-
| style="text-align:left;" | South Korea
| align="center" | 0.925 (19th)
| align="center" | 34.1 (2015)
| align="center" bgcolor=#ccffcc| 40,861
| align="center" bgcolor=#ccffcc| 11,350
| align="center" bgcolor=#ccffcc| 28%
|-
| style="text-align:left;" | Taiwan
| align="center" | 0.926 (–){{efn|name=TW_HDI|The [[Human Development Report|HDI annual report]] compiled by the [[UNDP]] does not include Taiwan because it is no longer a UN member state, and is neither included as part of the People's Republic of China by the UNDP when calculating data for China.<ref>{{cite web|url=http://hdr.undp.org/en/content/human-development-report-2020-readers-guide|title=Human Development Report 2020: Reader's Guide|publisher=United Nation Development Program|date=2020|access-date=12 March 2021|archive-date=16 April 2021|archive-url=https://web.archive.org/web/20210416000749/http://hdr.undp.org/en/content/human-development-report-2020-readers-guide|url-status=live}}</ref> [[Directorate General of Budget, Accounting and Statistics|Taiwan's Statistical Bureau]] calculated its HDI for 2021 to be 0.926 based on UNDP's 2010 methodology,<ref>{{cite web|url=https://eng.stat.gov.tw/public/Data/1513164433IGBKG0IN.pdf|title=What is the human development index (HDI)? How are relevant data queried?|publisher=Directorate General of Budget, Accounting and Statistics, Executive Yuan, Taiwan (ROC)|access-date=14 March 2021|archive-date=12 June 2021|archive-url=https://web.archive.org/web/20210612071634/https://eng.stat.gov.tw/public/Data/1513164433IGBKG0IN.pdf|url-status=live}}</ref><ref>{{cite web|url=https://win.dgbas.gov.tw/eyimc/ebook/SB/statistcs-brief_opf_files/pdfs/statistcs-brief__.pdf|title=人類發展指數(Human Development Index, HDI)|publisher=Directorate General of Budget, Accounting and Statistics, Executive Yuan, Taiwan (ROC)|date=6 January 2011|access-date=13 March 2021|language=zh-tw|archive-date=14 April 2021|archive-url=https://web.archive.org/web/20210414101606/https://win.dgbas.gov.tw/eyimc/ebook/SB/statistcs-brief_opf_files/pdfs/statistcs-brief__.pdf|url-status=dead}}</ref> which would place Taiwan at 19th globally in 2021 within the 2022 UNDP report.<ref name="HDI 2021">{{cite web|url=https://ws.dgbas.gov.tw/Download.ashx?u=LzAwMS9VcGxvYWQvMC9yZWxmaWxlLzExMDIwLzIyOTU5MS9iNDdhNmYyYy1jNjY2LTRjZDAtYmQ2Ni03OGEyYjMwMmM4MzkucGRm&n=TjExMTEwMTQucGRm&icon=.pdf|title=國情統計通報（第 195 號）|publisher=[[Directorate General of Budget, Accounting and Statistics]], Executive Yuan, Taiwan (ROC)|date=14 October 2021|access-date=16 October 2022|archive-date=11 February 2023|archive-url=https://web.archive.org/web/20230211120125/https://ws.dgbas.gov.tw/Download.ashx?u=LzAwMS9VcGxvYWQvMC9yZWxmaWxlLzExMDIwLzIyOTU5MS9iNDdhNmYyYy1jNjY2LTRjZDAtYmQ2Ni03OGEyYjMwMmM4MzkucGRm&n=TjExMTEwMTQucGRm&icon=.pdf|url-status=live}}</ref><ref>{{cite web|url=https://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5|title=National Statistics, Republic of China (Taiwan)|publisher=Directorate General of Budget, Accounting and Statistics, Executive Yuan, Taiwan (ROC)|date=14 October 2022|access-date=16 October 2022|archive-date=16 October 2022|archive-url=https://web.archive.org/web/20221016192219/https://eng.stat.gov.tw/ct.asp?xItem=25280&ctNode=6032&mp=5|url-status=live}}</ref>}}
| align="center" bgcolor=#ccffcc | 33.6 (2014)
| align="center" | 32,762
| align="center" | 6,882
| align="center" | 22%
|}
 
=== Technology ===
First, two million Kuomintang supporters fled to the island in 1949, establishing the small island of less than 20 million as the seat of the [[Republic of China]]. Taiwan thus benefited from the flight of many well-educated, bourgeois Chinese. Furthermore, many in the ROC leadership accused of corruption and incompetence on the mainland were either exiled or purged from the KMT following defeat in the [[Chinese Civil War|civil war]].
{| class="wikitable sortable" border="1" style="font-size:100%"
|- style="background:#ececec;"
! Country or <br />[[Territory (country subdivision)|territory]]
! [[List of countries by Internet connection speeds|Average Internet connection speed]]<br /> (2020)<ref>{{cite web |url=https://www.opensignal.com/sites/opensignal-com/files/data/reports/pdf-only/data-2020-05/state_of_mobile_experience_may_2020_opensignal_3_0.pdf |title=The state of mobile network experience |publisher=Opensignal |access-date=29 June 2021 |archive-date=24 May 2020 |archive-url=https://web.archive.org/web/20200524234101/https://www.opensignal.com/sites/opensignal-com/files/data/reports/pdf-only/data-2020-05/state_of_mobile_experience_may_2020_opensignal_3_0.pdf |url-status=dead }}</ref>
! [[List of countries by smartphone penetration|Smartphone usage]]<br /> (2016)
! [[List of countries by electricity production from renewable sources|Use of renewable electricity]]
|-
| style="text-align:left;" | Hong Kong
| align="center" | 21.8 Mbit/s
| align="center" | 87%<ref>{{cite web | url=http://www.visa.com.hk/en_HK/aboutvisa/mediacenter/nr_hk_20112015_HKeCommsurveyrelease1_Eng.html | title=Visa Survey: Hongkongers choosing mobile to browse and purchase online | publisher=[[Visa Inc.]] | date=9 November 2015 | access-date=30 August 2016 | url-status=dead | archive-url=https://web.archive.org/web/20160904074227/http://www.visa.com.hk/en_HK/aboutvisa/mediacenter/nr_hk_20112015_HKeCommsurveyrelease1_Eng.html | archive-date=4 September 2016 | df=dmy-all }}</ref>
| align="center" | 0.3%
|-
| style="text-align:left;" | Singapore
| align="center"| 47.5 Mbit/s
| align="center" bgcolor=#ccffcc| 100%<ref>{{cite web | url=http://www.telecomasia.net/content/singapore-leads-sea-smartphone-mbb-adoption | title=Singapore leads SEA in smartphone, MBB adoption | publisher=telecomasia.net | date=8 June 2016 | access-date=30 August 2016 | url-status=dead | archive-url=https://web.archive.org/web/20160902033642/http://www.telecomasia.net/content/singapore-leads-sea-smartphone-mbb-adoption | archive-date=2 September 2016 | df=dmy-all }}</ref>
| align="center" | 3.3%
|-
| style="text-align:left;" | South Korea
| align="center" bgcolor=#ccffcc| 59.6 Mbit/s
| align="center" | 89%
| align="center" | 2.1%
|-
| style="text-align:left;" | Taiwan
| align="center" | 28.9 Mbit/s
| align="center" | 78%<ref>{{cite web | url=http://www.androidauthority.com/taiwan-next-billion-dollar-app-market-700239/ | title="Made for Taiwan": the next billion-dollar app market | publisher=androidauthority.com | date=26 June 2016 | access-date=30 August 2016 | author=Carlon, Kris | url-status=live | archive-url=https://web.archive.org/web/20160720225742/http://www.androidauthority.com/taiwan-next-billion-dollar-app-market-700239/ | archive-date=20 July 2016 | df=dmy-all }}</ref>
| align="center" bgcolor=#ccffcc| 4.4%
|}
 
=== Politics ===
Second, Taiwan, and for that matter all four of the Tigers, benefitted economically from previous foreign rule or influence, whether it was [[United Kingdom|British]] commerce in [[Hong Kong]] and [[Singapore]], or [[Japan]]ese industrialization and [[United States|American]] land reform in Taiwan. In a sense, Taiwan benefited from [[Karl Marx|Marx&#8217;s]] export of the dialectic through [[imperialism]]. Furthermore, three of the Tigers was an artificial polity severed from larger neighbors&mdash;Communist China in the case of Taiwan and Hong Kong, [[Malaysia]] in the case of Singapore. Likewise, South Korea was a product of postwar division and bloody civil war. Each therefore felt acute insecurity, which was translated into political structures that restricted civil liberties and subordinated short-term social well-being for economic growth.
{| class="wikitable sortable" border="1" style="font-size:100%"
|- style="background:#ececec;"
! Country or <br />[[Territory (country subdivision)|territory]]
! [[Democracy Index]]<br />(2022)
! [[Press Freedom Index|Press<br>Freedom<br>Index]]<br />(2023)<ref>{{cite web|url=https://rsf.org/en/index?year=2023|title=Index 2023 – Global score|website=[[Reporters Without Borders]]|access-date=3 May 2023|archive-date=10 May 2023|archive-url=https://web.archive.org/web/20230510151133/https://rsf.org/en/index?year=2023|url-status=live}}</ref>
! [[Corruption Perceptions Index|Corruption<br>Perceptions<br>Index]]<br />(2022)
! [[Global Competitiveness Report|Global<br>Competitiveness<br>Index]]<br />(2019)<ref>{{Cite web|url=http://www3.weforum.org/docs/WEF_TheGlobalCompetitivenessReport2019.pdf|title=The Global Competitiveness Report 2019|accessdate=Oct 21, 2022|archive-date=9 October 2019|archive-url=https://web.archive.org/web/20191009004538/http://www3.weforum.org/docs/WEF_TheGlobalCompetitivenessReport2019.pdf|url-status=live}}</ref>
! [[Ease of doing business index|Ease of<br>doing<br>business<br> index]]<br />(2020)
! [[Americans for Tax Reform|Property rights index]]<br />(2015)
! [[Bribe Payers Index]]<br />(2011)
! width=200|Current political status
|-
| style="text-align:left;" | Hong Kong
| align="center" | 5.28
| align="center" | 44.86
| align="center" | 76
| align="center" | 83.1
| align="center" | Very Easy (3rd)
| align="center" | 7.6
| align="center" | 7.6
| style="text-align:left;" | Executive-led Special Administrative<br />Region of the People's Republic of China
|-
| style="text-align:left;" | Singapore
| align="center" | 6.22
| align="center" | 47.88
| align="center" bgcolor=#ccffcc| 85
| align="center" bgcolor=#ccffcc| 84.8
| align="center" bgcolor=#ccffcc| Very Easy (2nd)
| align="center" bgcolor=#ccffcc| 8.1
| align="center" bgcolor=#ccffcc| 8.3
| style="text-align:left;" | Parliamentary Republic
|-
| style="text-align:left;" | South Korea
| align="center" | 8.03
| align="center" | 70.83
| align="center" | 63
| align="center" | 79.6
| align="center" | Very Easy (5th)
| align="center" | 5.9
| align="center" | 7.9
| style="text-align:left;" | Presidential Republic
|-
| style="text-align:left;" | Taiwan
| align="center" bgcolor=#ccffcc| 8.99
| align="center" bgcolor=#ccffcc | 75.54
| align="center" | 68
| align="center" | 80.2
| align="center" | Very Easy (15th)
| align="center" | 6.9
| align="center" | 7.5
| style="text-align:left;" | Semi-Presidential Republic
|}
 
=== Organizations and groups ===
Third and perhaps most important, its economy could not, wrenched in quick succession from Japan's orbit and then mainland China's, have developed without direct American aid, which constituted more than 30 percent of domestic investment from [[1951]] to [[1962]]. Land reform, government planning, U.S. aid and investment, and free universal education brought huge advancement in industry and agriculture, and in living standards.
{| class="wikitable sortable" border="1" style="font-size:100%"
|- style="background:#ececec;"
! Country or <br />[[Territory (country subdivision)|territory]]
! UN
! [[World Trade Organization|WTO]]
! [[Organisation for Economic Co-operation and Development|OECD]]
! [[Development Assistance Committee|DAC]]
! [[Asia-Pacific Economic Cooperation|APEC]]
! [[Asian Development Bank|ADB]]
! [[Asian Infrastructure Investment Bank|AIIB]]
! [[South East Asian Central Banks Research and Training Centre|SEACEN]]
! [[G-20 major economies|G20]]
! [[East Asia Summit|EAS]]
! [[Association of Southeast Asian Nations|ASEAN]]
|-
| style="text-align:left;" | Hong Kong
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}<ref>{{cite press release|url=http://www.info.gov.hk/gia/general/201410/31/P201410310842.htm|title=HKMA joins SEACEN|date=31 October 2014|publisher=Hong Kong Government|agency=Hong Kong Monetary Authority|access-date=16 August 2017|url-status=live|archive-url=https://web.archive.org/web/20160217170022/http://www.info.gov.hk/gia/general/201410/31/P201410310842.htm|archive-date=17 February 2016}}</ref>
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ffcccc" | {{N}}
|-
| style="text-align:left;" | Singapore
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
|-
| style="text-align:left;" | South Korea
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}} ([[ASEAN Plus Three|APT]])
|-
| style="text-align:left;" | Taiwan
| align="center" bgcolor="#ffcccc" | {{N}}{{efn|Founding member of the United Nations and permanent member of the [[United Nations Security Council]] ([[China and the United Nations|1945–1971]])}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ccffcc" | {{Y}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ffcccc" | {{N}}
| align="center" bgcolor="#ffcccc" | {{N}}
|}
 
== See also ==
In addition, land reform was an essential step in modernization. In conducting land reform on Taiwan, [[Chiang Kai-shek]] was aided by American encouragement in addition to the fact that many of the large landowners were Japanese who had fled there after [[World War II]], and the remaining indigenous landowners had little voice in government. Most agree that it is extremely unlikely that Chiang Kai-shek would have revolutionized Mainland Chinese society to that extent if he had defeated the Communists led by Mao Zedong.
{{Portal|Hong Kong|Singapore|South Korea|Taiwan}}
{{div col |colwidth=20em|small=yes}}
* [[Developed country]]
* [[Developmental state]]
* [[The Pacific Pumas]]
* [[Economic miracle]] (full list of miracles and "tigers")
* [[Asian Century]]
* [[Baltic Tiger]]
* [[Celtic Tiger]]
* [[Tatra Tiger]]
* [[Newly industrialized country]]
* [[Gulf Tiger]]
* [[Tiger economy]]
* [[Korean Wave]]
* [[Miracle on the Han River]] (South Korea)
* [[Japanese economic miracle]]
* [[Taiwan Miracle]]
* [[Taiwanese Wave]]
* [[Chinese economic reform]]
* [[Tiger Cub Economies]]
* [[List of country groupings]]
* [[List of multilateral free-trade agreements]]
{{div col end}}
 
== Notes ==
In summary, the transformation of Taiwan cannot be understood without reference to the larger geopolitical framework. Although aid was cut back in the 1970s, it was crucial in the formative years, spurring industrialization. In addition, even after the cutoff of aid, security and economic links were maintained. Uncertainty about the U.S. commitment accelerated the country&#8217;s shift from subsidized import-substitution in the 1950s to later export-led growth. Like [[South Korea]], Taiwan moved from cheap, labor-intensive manufactures, such as [[textile]]s and [[toy]]s, into an expansion of heavy industry and infrastructure in the 1970s, and then to advanced [[electronics]] in the subsequent decades.
{{Notelist}}
 
== References ==
In response, it has been argued that the immigrants who fled with Chiang Kai-shek were more of a liability than an asset, and that the role of United States aid and direct investment is overstated. In particular, it is pointed out that the capital for investment came largely from indigenous sources and that foreign aid had ended before the economy had taken off. Since a large number were poorly-educated soldiers, the wave of immigrants was not a reflection of Chinese society. Indisputably, a disproportionately high share of the immigrants were governing elites, merchants, Chinese capitalists, and well-educated professionals.
{{Reflist|30em}}
 
== Further reading ==
==Other tiger economies==
* Ezra F. Vogel, ''The Four Little Dragons: The Spread of Industrialization in East Asia'' (Cambridge, Massachusetts: Harvard University Press, 1991).
Over time, the term ''Tiger'' has become synonymous with nations that achieve high growth by pursuing an [[export]]-driven [[trade]] strategy. More recently, the [[Southeast Asia]]n nations of [[Indonesia]], [[Malaysia]], [[Philippines]] and [[Thailand]] have often been considered ''Tigers''. The term is not limited to Asian nations; In [[Europe]], [[Ireland]] has been called the [[Celtic Tiger]] for its rapid growth in the [[1990]]s, while [[Estonia]] is known as the [[Baltic Tiger]] for its presently high growth rates.
*Hye-Kyung Lee & Lorraine Lim, ''Cultural Policies in East Asia: Dynamics between the State, Arts and Creative Industries'' (Palgrave Macmillan, 2014).
*H. Horaguchi & K. Shimokawa, ''Japanese Foreign Direct Investment and the East Asian Industrial System: Case Studies from the Automobile and Electronics Industries (''Springer Japan, 2002).
*{{cite book |last1=Kim |first1=Eun Mee |title=The Four Asian Tigers: Economic Development and the Global Political Economy |date=1998 |publisher=Emerald Publishing |isbn=9780124074408}}
 
== External links ==
==Related articles==
* [http://news.bbc.co.uk/1/hi/special_report/1998/asian_economic_crises/72222.stm BBC report on the Asian Tigers in the aftermath of the 1997 Financial Crisis] (includes map of the Asian Tigers)
*[[Economy of Taiwan]]
*[[Economy of Hong Kong]]
*[[Economy of South Korea]]
*[[Economy of Singapore]]
*[[East Asia]]
 
==External links==
* [http://www.pbs.org/wgbh/commandingheights/shared/minitextlo/int_mahathirbinmohamad.html Interview with Mahathir Mohamad]: Many observers have praised Malaysia as the most prominent "tiger cub". Former [[Prime Minister of Malaysia|Prime Minister]] [[Mahathir bin Mohamad]]'s [[interview]] with the [[PBS]] series &#8220;Commanding Heights&#8221; covers the subject of East Asian economic development.
* [http://news.bbc.co.uk/1/hi/special_report/1998/asian_economic_crises/72222.stm BBC map of the Asian Tigers]
* [http://gbr.pepperdine.edu/001/tigers.html ASEAN tigers]
* [https://web.archive.org/web/20060427062209/http://www.chinaeconomicreview.com/subscriber/articleprintable.php?id=731 The Elephant at the Gate in ''China Economic Review'']
 
{{East Asian topics}}
[[Category:Asia]]
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[[Category:Economic history]]
{{Economy of Taiwan}}
{{Economy of South Korea}}
{{Singapore topics}}
{{Economic miracle and tiger economy}}
{{United States – Commonwealth of Nations recessions}}
{{Use dmy dates|date=January 2021}}
 
[[Category:Tiger economies]]
[[Category:Economic booms]]
[[Category:Economic history of Asia]]
[[Category:Economic history of Taiwan]]
[[Category:Economy of East Asia]]
[[Category:Economy of Hong Kong]]
[[Category:Economy of Singapore]]
[[Category:Economy of South Korea]]
 
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[[de:Tigerstaaten]]
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[[Category:Four Asian Tigers| ]]
[[ja:&#26032;&#33288;&#24037;&#26989;&#32076;&#28168;&#22320;&#22495;]]
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