Question

why did economist call some asian countries "little Dragons "from 1970 onwards​

Answer 1

 the last four decades Japan and the four "little dragons"-Taiwan, South Korea, Hong Kong and Singapore-which together constitute less than four percent of the world's population, have become with Europe and North America one of the three pillars of the modern industrial world order. How did those "dots on the eastern periphery" achieve such a transformation? This is not the first effort to try to answer that question, but it is surely one of the most concise, readable and penetrating. 

Answer 2

A colloquial term used to describe the Asian nations (Hong Kong, Singapore, South Korea, and Taiwan) that pose a financial threat to Japan, the Big Dragon of Asia. They are a threat because of their lower labor costs, comparable efficiency levels, and aggressive economic growth. As of 2008, South Korea is the largest of these Little Dragons. also called Four Asian Tigers.