What are the development strategies employed by Asian tigers?

Export-Oriented Industrialization

- Focused on the production of goods for the international market.

- This approach took advantage of the surplus labour and the lower wages present in the countries.

Heavy Government Intervention in the Economy

- Governments were involved in many sectors of the economy.

- Interventions included providing subsidised credit to industries, setting up public enterprises, and regulating the prices and wages.

Attraction of Foreign Investments

- Encouraging foreign investment through incentives was done to get access to foreign technology and capital.

Emphasis on Infrastructure Development

- Governments invested in infrastructure projects such as roads, telecommunications, and ports to improve the business environment and attract foreign investments.

Development of Human Capital

- Governments invested heavily in education, training, and health care to improve the productivity of the workforce and meet the demands of a rapidly modernising economy.

Promotion of Small-and-Medium Enterprises

- SMEs were given support in the form of loans and tax breaks to help them grow and create employment opportunities.

Adoption of Appropriate Technologies

- The government encouraged the adoption of appropriate technologies that were suitable for the local conditions.