Republics, Economic booms, Economy of Singapore

The term Asian Tigers is used to refer to four Asian nations namely South Korea, Taiwan, Hong Kong and Singapore. The four are normally referred to as the Asian Dragons or the Four Asian Tigers due to their exceedingly developed economies. They were the first newly industrialized regions which were noted for maintaining a miraculously and exceptionally rapid industrialization and high growth rates. All these happened between 1960s and 1990s such that all the four nations had graduated into high income economies and advanced economies by the 21st century.