TIGER ECONOMY Meaning and
Definition
-
A tiger economy refers to a nation or region that experiences rapid economic growth, often characterized by high rates of industrialization and development. This term was initially used to describe the economies of certain Asian countries, particularly the Four Asian Tigers: Hong Kong, Singapore, South Korea, and Taiwan, during the latter half of the 20th century.
A tiger economy is typically identified by its strong export-oriented focus, driven by robust manufacturing industries. These economies are known for their ability to quickly adapt and adopt technological advancements, making them highly competitive on the global stage. Additionally, tiger economies often exhibit a skilled and educated workforce, as well as strong government support for economic development and infrastructure.
The term "tiger economy" derives from the tiger's attributes of strength, agility, and speed, which metaphorically represent the rapid economic growth experienced by these countries. As tiger economies develop, they tend to exhibit a rising standard of living, increased urbanization, and improved infrastructure, as well as a growing middle class. These economies often attract foreign investments and become major players in international trade.
Although the original concept of tiger economies applied specifically to the Four Asian Tigers, it has since been extended to describe other rapidly developing economies, such as China and Vietnam. However, it is worth noting that the term tiger economy is not without controversy, as the pace of growth can sometimes come at the expense of environmental sustainability, income inequality, or other social issues.
Common Misspellings for TIGER ECONOMY
- riger economy
- figer economy
- giger economy
- yiger economy
- 6iger economy
- 5iger economy
- tuger economy
- tjger economy
- tkger economy
- toger economy
- t9ger economy
- t8ger economy
- tifer economy
- tiver economy
- tiber economy
- tiher economy
- tiyer economy
- titer economy
- tigwr economy
- tigsr economy
Etymology of TIGER ECONOMY
The term "tiger economy" was coined in the 1980s to refer to the rapid economic growth and development of a group of Asian countries. The word "tiger" in this context is derived from the names of the countries commonly known as the "Four Asian Tigers" – Hong Kong, Singapore, South Korea, and Taiwan.
These countries experienced remarkable economic expansion during this period, demonstrating high growth rates, industrialization, export-oriented policies, and a focus on manufacturing and technology sectors. The term "tiger economy" reflects the strength, competitiveness, and dynamism of these nations' economies, drawing a parallel with the agility and power of an actual tiger.
Over time, other Asian countries such as Thailand, Malaysia, Indonesia, and China also witnessed similar rapid economic growth and development, leading to the expanded use of the term "tiger economy" to encompass these additional nations as well.
Infographic
Add the infographic to your website:
