Final answer:
The term 'Asian Tiger' describes economies that have rapidly industrialized and grown, including Singapore, Hong Kong, Taiwan, and South Korea. Compared to the strength of a tiger, these regions are characterized by dynamic and competitive economic activities. Japan, termed the economic dragon, has set a precedent for these economies with its post-WWII recovery and economic dominance.
Step-by-step explanation:
The term "Asian Tiger" refers to economies that have undergone rapid industrialization and enjoyed high rates of economic growth. The commonly recognized Asian Tigers are Singapore, Hong Kong, Taiwan, and South Korea. These regions experienced significant economic transformation starting in the 1960s and are known for their competitive, dynamic, and fast-growing economies.
These economies have also been involved in extensive world trade, technological innovation, and have high levels of education among their populations. The term compares these economies to the energy and power of a tiger, which is a strong and formidable animal.
Japan, also known as the economic dragon, is recognized for its remarkable recovery and development after World War II, becoming a leading global economic superpower and setting an example for the smaller Asian Tigers.