Which term describes high-growth economies including Hong Kong and Singapore?

Which term describes high-growth economies including Hong Kong and Singapore?

• A. BRICS
• B. G7
• C. OPEC
• D. Asian Tigers

Answer: (D)

The concept here is a label used for fast-growing economies in East Asia that industrialized rapidly in the late 20th century. The term Asian Tigers describes economies like Hong Kong and Singapore (along with South Korea and Taiwan) that pursued export‑led growth, high investment in education and infrastructure, and a strong business climate, leading to rapid development and high income levels by the 1980s and 1990s. The other groups refer to different sets of countries: BRICS are large emerging economies in various regions, G7 are advanced Western economies, and OPEC is a cartel of oil-producing nations. So the best fit for describing those high-growth economies including Hong Kong and Singapore is the Asian Tigers.

The concept here is a label used for fast-growing economies in East Asia that industrialized rapidly in the late 20th century. The term Asian Tigers describes economies like Hong Kong and Singapore (along with South Korea and Taiwan) that pursued export‑led growth, high investment in education and infrastructure, and a strong business climate, leading to rapid development and high income levels by the 1980s and 1990s. The other groups refer to different sets of countries: BRICS are large emerging economies in various regions, G7 are advanced Western economies, and OPEC is a cartel of oil-producing nations. So the best fit for describing those high-growth economies including Hong Kong and Singapore is the Asian Tigers.