Amidst growing technology and economic capabilities, several countries have discovered how Globalization can become a catalyst for their economic development. The term Globalization is variously conceptualized, but in general, refers to the latest phase of capital expansion involving foreign exports or transnational network of trades so that the movement of economic resources is increasingly outside the control of any state. (Brown, 1998) Economies all around the world have shown massive growth in terms of economy. Countries which earlier had a blurred economic vision are taking the path to globalization to plow a high yielding economy. Many high performing nations also have decided to form special groups and alliances in order to target co-operative development through alliances like BRICS (Brazil, Russia, India, China and South Africa), CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa). Similarly, the Pacific Rim has seen the rise of Hong Kong, South Korea, Taiwan, and Singapore as growing economies which came to be known as the four Asian Tigers. These countries underwent major policy changes and economic decisions to fit into this criterion. With zoomed industrialization and exceptionally high growth rates, their strategies are now becoming an inspiration for many economic markets in the Pacific Rim. One such group which are considered their successor is the Tiger Cub Economies consisting of Malaysia, Thailand, Philippines, and Indonesia. These economies have started to emerge as financial centers especially, Singapore and Hong Kong which are one of the biggest financial centers worldwide. South Korea and Taiwan, on the other hand, are important manufacturing hubs of high margin industries like automobile and IT. The resiliency of these economies was proven when they survived and recovered from the Asian Financial Crisis of 1997 and the Credit Crunch of 2008/ These four countries are included in the list of Advanced Economies formulated by the International Monetary Fund (IMF). In the following paper, we plan to focus on the various development strategies, policies, and steps implemented by these four countries. This will help us in understanding the various aspects related to growing a previously underperforming economy. Also, we will focus on the importance of globalization for a country which plans to undergo an economic transformation. Finally, we would be talking about how other countries can implement the same strategies and cope up with the developing world.