Using a strategy of export-led growth and an activist industrial policy, Japan, the Asian Tigers and more recently China have attained high rates of economic growth. Export-led growth has taken over the status as model for developing countries' economic development from the formerly prevailing paradigm of import substitution. This paper reviews the experiences of Japan, the Tiger states and China with their respective strategies of industrial policy and export-led growth. Is examines the strategies' applicability for developing countries at the beginning of their industrialization process. In addition, the it discusses the relationship between the Asian type of industrial policy and a neoliberal economic policy modeled after the "Washington Consensus".