What are the 'Four Asian Tigers' economies of Southeast Asia?

The Four Asian Tigers are the economies of South Korea, Taiwan, Singapore, and Hong Kong. Between the early 1960s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year. The growth of these economies is commonly referred to as "The Asian Miracle". These economies had experienced a setback in the 1997 Asian financial crisis but they recovered from that crisis faster than other countries due to various economic advantages including their high savings rate (except South Korea) and their openness to trade.

By the early 21st century, these economies had developed into high-income economies, specializing in areas of competitive advantage. Hong Kong and Singapore have become leading international financial centers, whereas South Korea and Taiwan are leaders in manufacturing electronic components and devices. Their economic success has served as role models for many developing countries, especially the Tiger Cub economies of Southeast Asia (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam).