Studwell’s thesis is bold, his arguments persuasive, and his style pugnacious. It adds up to a highly readable and important book that should make people. Bill Gates reviews “How Asia Works” by Joe Studwell. How Asia Works. Success and Failure in the World’s Most Dynamic Region. Joe Studwell. A provocative look at what has worked – and what hasn’t – in East.
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While these do not provide significant learning and are based on cost arbitrage, they do generate surpluses and forex reserves to finance long term investments and technology acquisition and generate much needed employment.
I read The World Is Flat right after this book and they all connected and made a lot of sense. The only drawback is that the book is quite redundant and could better organized. The author provides a context for all the economies which helps us better understand the development …more This is an easy read with very little jargon.
Want to Read Currently Reading Read. Very well-written book, thoroughly researched. Studwell proposes that successful implementation of three government interventions explains much of the variation in the growth trajectory of east Asian states: Books by Joe Studwell.
Basic land reform ensures maximization of yields per area, reduced food import bills and, in some cases, provided vital forex earnings and created surpluses to drive broad jjoe consumption and investment. Published June 25th je Grove Press first published March 1st The proper division of land in India has not been applied, or it has been done in a peace meal manner.
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Detalhes do produto Formato: Though at a later stage he does say that as incomes rise, a move to large scale commercial farming is optimal for improving productivity, otherwise you get stuck ala Japan. The picked losers and destroyed them. Be the first one to write a review.
Interesting book that analyzes why some Asian countries successfully developed and why others didn’t. As this strategy is not directed in the short term to a lot of consumers, it’s usually difficult to apply without a strong government or coalition. The cynics, who believe that mainstream economics is so hopelessly compromised as to be useless, are also wrong. Habilitado Leitor de tela: Some countries like Japan managed this well, raising their food production as well as increasing economic mobility, while oligarchies in others like the Philippines made sure that redistribution never disrupted their control of local markets.
They now love to prescribe development policies of neo-classical school for developing countries which have been disproved repeatedly around the world. With manufacturing, industrial development alone is not sufficient, Studwell argues. Jun 25, Michael Wallace rated it really liked it. Japan, South Korea, Taiwan, and most recently mainland China have grown rich by following this formula; by ignoring it, Malaysia, Thailand, Indonesia, and the Philippines have fallen behind.
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While the North East Asian countries scale one improbable developmental height after another, the South East Asian nations always seem to be teetering on the brink of an economic catastrophe perpetually lurking around an unseen corner. Reading it will also tell, indirectly, why middle class is cringing now to the rate of interest being offered by Indian banks;why paltry payrise by pay commission etc!
A common pitfall for countries is to simply ask foreign companies to set up shop with some branch plants in their country and raise their living standards that way. These markets are their means to escape government control. And in finance, effective regulation is essential for fostering, and sustaining growth. I distinctly remember a conversation in the graduate student lounge where, with the smug assurance of the newly converted, we discussed how neat it was that so much could be summarized with such a simple model.
Overall, an great read, especially the personal anecdotes from the author! The author cites Philippines which had a good education system, bequeathed by the Americans. Jul 09, Kristjan Velbri rated it it was amazing.
An example from the book, is that during the Korean junta they rounded up all the business leaders and forced them to sign a statement that they agreed to listen to the junta, otherwise all of their possessions would be taken from them.
Jun 25, Omar rated it it was amazing Shelves: Studwell’s in-depth analysis focuses on three main areas: Inevitably, the key to success is a strong leader that puts the right industrial structures and incentives in place, keeping an eye on increasing productivity of the nation. This condemns strategies based on either mass collectivization or premature shift to large scale industrial agriculture. But this book should be number one in the list of a serious book lover! Dec 17, Mona Nomura rated it really liked it.
Policies to direct investment and entrepreneurs to manufacturing, with an export led growth strategy so as to expose the economy to export discipline, as well as internal competition.
Studwell convincingly demonstrates that the former is the correct path, citing the arguments of Friedrich List and Alexander Hamilton among others. But being boldly wrong makes asua easier to delineate where one disagrees.
The author has clearly segregated the successes S. Another reason to prefer investment in manufacturing over services is that once jor independent financial sector gets going, money tends to flow to lucrative but non-productive sectors like high-end real estate speculation rather than, say, new industrial infrastructure.
This is especially true in the case of countries whose elites survived the process of land redistribution and the creation of a manufacturing sector, and who now maintain critical positions in agriculture, industry, and finance thus leading to sweetheart loans, kickbacks, and all manner of related corruption. In Malaysia, Tun Mahathir was an ambitious leader.
I would imagine that this could teach leaders of developing countries how to get the most workks of the world economy to build their own nation. Jan 05, Kaushik rated it really liked it. It is the absence of thorough historical analysis and excessive faith in textbook models that led to incorrect prescriptions and needless misery in parts of Asia, Latin America and Africa.
After reading it, I felt I am an economist, or at least Agricultural economist! Overall, Studwell has done an excellent job of explaining why leaders like Park Chung-Hee, Deng Xioaping, and Meiji took their countries in such asla paths than Mao Zedong, Mahathir Mohamad, and Sukarno in a brisk, well-argued volume. The book investigated and expounds the successful and not so successful economies of Eastern Asia, comparing why certain ones Taiwan, S Korea, Japan succeeded, while others Philippines, Indonesia, Thailand never reached the same level of success.
It is a political will which dictate economic decision and not the other way round.