The 'Four Asian Tigers' refers to the economies of Hong Kong, Singapore, South Korea, and Taiwan.

These four economies experienced exceptionally high rates of economic growth and rapid industrialization between the 1960s and 1990s.

Their development model was based on export-oriented industrialization, focusing on producing manufactured goods for the global market.

Common characteristics included high levels of savings and investment, and a strong emphasis on education to create a skilled workforce.

In South Korea and Taiwan, the government played a strong role in guiding economic development ('state-led capitalism').

Hong Kong and Singapore developed into major international financial centers and hubs for global trade.

These economies successfully transitioned from producing low-cost goods like textiles to high-tech products like electronics and semiconductors.

The Asian Tigers were severely affected by the 1997 Asian Financial Crisis but recovered relatively quickly.

Their success provided a model of economic development for many other countries in the region.

The rise of the Asian Tigers was a key part of the broader shift of global economic power towards Asia.