Final answer:
Hong Kong is the former British colony among the four Asian dragons, which also include Singapore, South Korea, and Taiwan. It was handed back to China in 1997 and has maintained a high degree of autonomy, helping it to become an economic tiger with rapid development due to various factors including its role as a major port for trade.
Step-by-step explanation:
The former British colony belonging to the so-called four Asian dragons is Hong Kong. Hong Kong, a dynamic metropolis, includes a number of islands on the southern coast of China, such as the excellent port of Victoria. This port became crucial for trade, particularly during the period when China started opening up in the 1980s under the open door policy. The city's rapid economic growth has been powered by factors like cheap labor, high technology, and aggressive exports, which are characteristics that define an economic tiger. After more than a century of British rule, Hong Kong was handed back to China in 1997 under the "one country, two systems" principle, thereby preserving its autonomy in various matters including its legal and economic systems.