Hong Kong, Taiwan, Singapore, and South Korean transformed from deprived villages to swift growing countries, and earned the title as the “Asian Tigers.”
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 World War II, Japan was defeated and Taiwan was return to China. During Jiang Jieshi autocratic rule, Taiwan economy grew rapidly. They start setting up textiles and then develop hard industries. During the 1960s, new seeds and fertilizers help Taiwan’s agriculture become more productive. Taiwan was able to produce large amounts of goods than any other Asian country with the used of the fertilizers. Trading began to increase and the production of electronics. These factors help Taiwan play a key role in the global economy.
A ruined island of jungle was transformed into Singapore under British rule. Sir Stamford Raffles, a British Empire builder, set up a trading post at the mouth of Singapore River. It attracted Malays, Chinese, Indians, Arabs and Europeans....