The Four Asian Tigers are the developed Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. Between the early 1950s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year.
Worlds regions by total wealth (in trillions USD), 2018
Singapore
Seoul, South Korea
Hong Kong
1997 Asian financial crisis
The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided.
Rioters in Jakarta, during the May 1998 riots of Indonesia
Fall of Suharto: President Suharto resigns, 21 May 1998.