Singapore, Hong Kong, South Korea, and Taiwan are highly developed free market economies that are known as the Four Asian Tigers. All these nations experienced rapid industrialization from the 1960s until the 1990s and by the Year 2000 had developed into high income economies. Singapore and Hong Kong emerged into leading world financial centers , while Taiwan and South Korea emerged into world leaders in Information Technology. Singapore’s first Prime Minister Lee Kuan Yew is widely credited with being responsible for Singapore’s transition from a third world country into a first world country under his Prime Ministership (1959-1990). With OneTwoTrade BinaryOptionsTrading, you can trade with Stocks, Currencies, Commodities and Indices from Singapore, Hong Kong, South Korea and Taiwan.
Singapore is one of the world’s 5 busiest ports and is a major international transport hub for both the sea and air. It possesses the world’s 11th largest foreign reserves. Within Asia it is the only country that holds a AAA credit rating and is ranked 1st with the Ease of Doing Business Index. In addition it has 11 free trade agreements with other countries. Being one of the world’s leading tax havens, tax it attracts a lot of foreign investment across most sectors of the economy where about 10,000 foreign companies from across the globe operate. The main reasons for a high level of foreign investment include the location, advanced infrastructure, low tax rates, skilled workforce and a corruption free environment. Singapore ranks as the 15th largest importer and 14th largest exporter.
Hong Kong has an economic policy of Positive non-interventionism that makes it an example of laissez-faire capitalism. Despite few natural resources and little land that is suitable for farming, it has the 7th largest stock exchange in the world. It was ranked as the worlds freest economy by the Index of Economic Freedom for 21 consecutive years (1995-2015) and is currently ranked 2nd by the Ease of Doing Business Index. As a place with almost no trade restrictions, Hong Kong has developed into a leading financial center as well as a center for Information Technology and many professional services including management and business consultation.
South Korea is the most industrialized OCED (Organization for Economic Co-operation and Development) country, a member of the G20, the world’s 8th largest exporter and 7th largest importer, the 13th largest market economy in the world, has 17 Fortune 500 listed companies including Samsung, Hyundai and LG and successfully avoided a recession during the Global Financial Crisis. Hi Tech and Heavy Industries are strong sectors of the South Korean economy.
Taiwan is a world leader in the manufacturing of Electronic Components and Personal Computers (PCs). Leading Taiwanese Hi Tech manufacturers include HTC in the field of Smartphones and Tablets, Acer and Asus in the field of PCs and Foxconn and Pegatron in the field of electronic contract manufacturing. Foxconn is the world’s largest electronics contractor manufacturer.
Taiwanese investors and businesses are major investors in mainland China and South East Asia. Taiwan’s main trading partners are China, Japan, the United States, the European Union and Hong Kong. Taiwan’s outstanding and well maintained rail and road transport system is cutting edge and gives it an extra advantage.