The Little Dragons: South Korea, Singapore, and Taiwan and the Global Markets (1950s-Present) E-BOOK

The "Little Dragons"—South Korea, Singapore, and Taiwan—emerged as economic powerhouses in the second half of the 20th century, a phenomenon that has intrigued economists, political scientists, and historians alike. Their ascension from poverty and instability following World War II to their current status as key players in the global economy offers a remarkable case study in resilience, innovation, and strategic governance. This introduction seeks to unpack the historical context, central ideas, and primary sources that illuminate their journey, while also exploring the individuals, places, and dates that shaped their transformation.

The post-war period was marked by devastation across much of Asia. Korea was partitioned in 1945 following Japan's defeat, creating a fragile South Korea under U.S. influence and a communist North under Soviet control. The Korean War (1950–1953) compounded the damage, leaving the South's infrastructure in ruins and its economy reliant on American aid. Taiwan, meanwhile, became the refuge of the Kuomintang (KMT) government following their defeat in the Chinese Civil War in 1949. Facing hostility from the People's Republic of China, Taiwan had to build its economy in isolation, supported heavily by U.S. military and economic assistance during the early Cold War. Singapore, expelled from the Federation of Malaysia in 1965, started its independent journey with limited resources, lacking even a natural water supply and surrounded by larger, more hostile neighbors. The convergence of these three nations' fates lies in their shared need to overcome adversity through innovative economic and social policies.