When it comes to economic transformation, we have to mention the Four Asian Tigers.

Since the 1960s, Asia's South Korea, Singapore, Taiwan, and Hong Kong have undertaken three industrial transfers from developed countries, mainly the United States and Japan, and have successfully transformed their industrial structures into labor-intensive, capital-intensive, and

Capital and technology-intensive industries have transitioned, thus entering or approaching the ranks of developed economies.

The high speed and long duration of its economic growth are unique in the world.

But why did these small peninsulas or islands in East Asia rise as quickly as Greek mythology during this period?

The "East Asian Miracle" has no different model. As we all know, the four Asian tigers are not large in area, densely populated, have a weak economic foundation, are not rich in natural resources, and are not very developed in science and technology.

Their economic take-off has many similar or identical practices and experiences in terms of processes and means.

Their common characteristics are to fully participate in the international division of labor and to develop an export-oriented economy.

However, this does not mean that their economic development models are the same.

Regarding government intervention in the economy, Hong Kong initially adopted a "liberal economic" policy, while Singapore has long attached great importance to government intervention in social and economic development.

Although Taiwan and South Korea have striking similarities in terms of political systems and state machinery settings, they are very different in terms of the starting point, stage, and focus of economic development.

In addition, even though they all implement export-oriented development strategies, the priorities of these four countries and regions are different.

Singapore's export orientation mainly relies on technological innovation brought by foreign investors. Hong Kong mainly benefits from financial development and free trade. In Taiwan and South Korea, technological innovation plays a key role in economic growth. Taiwan has introduced foreign investment

It obtains technology through cooperation with local enterprises, while South Korea focuses on purchasing complete sets of technical equipment and imitating, transforming and innovating on this basis.

Therefore, when studying the Four Asian Tigers, the most commonly used terms are the "Hong Kong Model", "Taiwan Model", "Korea Model" and "Singapore Model", but there is no such general term as the "Four Tiger Model".

Singapore Model Singapore is an urban island country with scarce resources, an area of ??only 700 square kilometers, and a population of more than 5 million.

When the People's Republic of China was first founded in 1965, the industrial base was backward, the unemployment rate was extremely high, and the overall national economic level was very low.

But in just a few decades, after experiencing multiple economic transformations, it has rapidly developed into one of the Four Asian Tigers.

Looking back at the history of Singapore's economic development, it is not difficult to see that Singapore undergoes an economic transformation almost every ten years.

From labor-intensive industries in the 1960s, to economy-intensive industries in the 1970s, to capital-intensive industries in the 1980s, to technology-intensive industries in the 1990s, they have developed into knowledge-intensive industries at the beginning of the 21st century.

There are two crucial factors for Singapore's successful transformation, namely government leadership and the introduction and utilization of foreign capital.

Government intervention in the economy is a very delicate matter. If the intervention is just right, it can promote economic development. If the intervention is inadequate or excessive, it is very likely to become the source of economic turmoil.

The success of the Singapore government's intervention in the economy can be attributed to three points: First, the intervention and regulation methods it adopts are indirect rather than direct.

For example, when adjusting the industrial structure, it will generally introduce a series of tax and subsidy policies instead of direct intervention with mandatory regulations.

Second, a relatively fair legal system for citizens is one of the cores of Singapore’s economic model and an important focus of the government’s work.

The government attaches great importance to creating a good environment so that every citizen has a chance to receive fair treatment. In Singapore, as long as citizens over the age of 18 enter society, the government will provide a set of comfortable public housing.

Third, the Singaporean government is recognized around the world for its integrity and efficiency.

According to a 2009 Transparency International survey, the Singaporean government ranks third in the world in terms of corruption.

Foreign investment plays a key role in Singapore's economic development. It is understood that currently, more than 7,000 multinational companies and technology partners from Europe, the United States, Japan and other places have set up branches in Singapore, and 60% of these investors have set up their regional headquarters in Singapore.

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The latest government statistics show that 42% of Singapore's GDP is generated by multinational companies.

Singapore has its own approach to attracting foreign investment.

It has an Economic Development Board, which is responsible for promoting Singapore to the world and attracting investment.

There are also permanent investment promotion agencies in the United States and Europe and other places around the world, and "elites" are stationed there. They search and think about all kinds of information like spies for many years, visit senior executives of famous companies, and persuade investors to invest in Singapore.

At the same time, it also attaches great importance to improving its internal strength, introducing foreign investment and improving infrastructure construction as basic conditions.

It formulates different investment policies for different industries and flexibly adjusts policies at different times to help the country achieve industrial upgrading and structural adjustment. Singapore has also achieved good results.

Korean Model South Korea began its economic transformation and upgrading in the 1970s. It took more than 20 years to go through the industrialization process of Western developed countries for more than 100 years. It rose from a backward agricultural country to a newly industrialized country, creating a world-renowned "

"Miracle on the Han River".