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This study aims to explore the history of economic development, the changes in industrial structure, the influence of government policies, and the key factors that helped the ROC, Japan, the ROK, and Singapore (hereafter termed as four Asian economies) to break out of the middle-income trap. [...] In addition to the preferential measures for the supply of talent, land, and factories, the government established the Hsinchu Science Park in 1980, and in the previous year (1979), the "Act for Establishment and Administration of Science Parks" (hereinafter referred to as the Parks Act) was passed to provide five-year tax exemptions (Article 15 of the Parks Act). [...] Main Factors for Breaking Through the Middle-income Barrier 1970s to 2000s Based on the foundations laid by the ITRI, Hsinchu Science Park, and other infrastructure and export- oriented policies in the 1980s, coupled with vigorous development of the electronic information and semiconductor industries and the hinterland of the PR China market, the ROC's economy grew rapidly. [...] Between 2017 and 2022 Thanks to the overseas deployment in the past few years, including the New Southbound Policy of ASEAN countries, investment in PR China, and the policy of encouraging the return of Taiwanese businessmen since 2020, the ROC has become one of the economies in the world without supply chain 18 | ADAPTATION OF HIGH-INCOME ECONOMIES: A STUDY OF POLICIES AND TRANSFORMATION ECONOMIC. [...] From the establishment of export processing zones in the early stages to the investment of science parks and public-research institutes in the middle and late stages, the ROC has also achieved certain effectiveness in reducing the risks of early R&D and personnel training conducted by private institutions.