Final answer:
The East Asian Tigers, including Taiwan, Singapore, Hong Kong, and South Korea, primarily used export-oriented industrialization as a strategy for economic growth, focusing on competing in international markets rather than relying on import restrictions or high taxation.
Step-by-step explanation:
The East Asian Tigers, which include Taiwan, Singapore, Hong Kong, and South Korea, employed specific strategies for economic growth, particularly export-oriented industrialization. This approach emphasized developing industries that could compete in international markets, thereby capitalizing on the global demand for certain commodities such as electronics, textiles, steel, and automobiles.
Avoiding strategies such as high taxation, isolationist policies, and import restrictions, these economies fostered a business environment conducive to growth through investment in technology, education, and infrastructure. Furthermore, their emphasis on market capitalist strategies and linking standardized production technologies with low-cost labor propelled them into the global market, becoming competitive in producing various products. While import substitution was an approach some countries considered, the East Asian Tigers focused on penetrating international markets rather than protecting domestic ones through high tariffs on imported goods.