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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Instead of suggesting a full-fledged and massive financial and industrial deregulation, Studwell painstakingly demonstrates that an initially protectionist policy that grants subsidies to manufacturers, makes available finance at low or even negative interest rates, but and this is a capital BUT indispensable and incontrovertible workd targets would lead to a rise in the manufacturing sector as was the stellar case with South Korea and the former General Park Chung Hee.
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The author explains that a lot of the policies stidwell made these and other industrialized countries successful are contrary to those spouted by the world bank, IMF, and the US.
A lot of it is tough to get through, there is a lot of statistics and so many different players in the game that it is sometimes d Have you ever wondered how China came out of the blue and became a huge player in the world economy?
This is the foundation that builds a capital base. Oct 20, Cyrus Samii rated it really liked it. The failings in South East Asia described in this book are pretty much as described in Studwell’s earlier “Asian Godfathers”. Japan, South Korea, and Taiwan; Thailand, Malaysia, Indonesia, and the Philippines; and of course China, which appropriately gets the entire fourth section of the book all to itself. Have you ever wondered how China came out of the blue and became a huge player in the world economy?
The South Koreans never picked winners, but they created several firms in the industry and let them fight with each other. His conclusion is that South East Asia will probably never fulfil its potential, and shudwell China might. Aug 31, Matthew rated it it studwfll amazing Shelves: The developing country should build up their own expertise, for example by doing technology transfers with foreign firms while maintaining control until they can innovate on their own.
Return to Book Page. But this book should be number one in the list of a serious book lover! Jul 09, GLinh Tran rated it it was amazing.
Overall, an great read, especially the personal anecdotes from the author! While space prevents him from discussing some of the most unique countries – I’m thinking mostly of North Korea and Vietnam as well as Singapore and Hong Kong, though surely Laos, Cambodia, Myanmar, and Papua New Guinea have their own interesting stories – The title makes a bold claim, but overall Studwell does an excellent woeks of condensing, comparing, and commenting on the development paths of almost all of the major northeast and southeast Asian economies from an elevated yet rigorous level.
Nor does a new kitchen seem so pleasant if the food you eat in it is poisoned for lack of environmental controls or by the addition of some low-cost but toxic ingredient, the use of which has been covered up with official connivance.
In Japan, Taiwan and particularly the South Korea, the governments could not avoid dealing with the cronies. I have read this book following the positive Twitter review by Noah Smith https: The cynics, who believe that mainstream economics is so hopelessly compromised as to be useless, are also wrong.
A must read for policy makers in Latin America and Africa who are being hoodwinked by the laissez faire prescriptions of World Bank and IMF bureaucrats–folks that pretend to know how the world works through mathematical theories.
Jun 25, Omar rated it it was amazing Shelves: According to the book there are three main levers: Asoa rise hoe the east Asian economies, and the lifting of their six hundred million out of grinding poverty, is the central fact of the past hundred years. Every countries and institutes are either westernized or on the way to being so because there are no alternative route. But for many economists, this will be the extent of their training in the subject.
Following studwwll, the most successful nations nurtured and supported enterprises to acquire technical competencies while pushing exports – this ensured that local firms had time to learn but also forced them to world-class in terms of quality of output. Habilitado Leitor de tela: Was skeptical at first and thought this book is going to be all about gossips like it was in the Asian Godfathers. All in all, any person interested on Asia or in topics of economic development must read this book.
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Of course, since the growth to capital and labor can take you so far, productivity is the secret sauce. In China and North Korea the agricultural boom ended when the Communists collectivised the farms.
I totally agreed with Studwell about his point of the government decided whether the country would develop or not. All this brings us to China, whose development path has similarities with both the richer Northeastern Asian countries and the poorer Southeastern ones, and is hence unique enough to deserve the sole focus of the final section even aside from its singularly vast scale.
Compartilhe seus pensamentos com outros clientes. Anyone who can ‘read’ an economic model knows that the ‘comparative advantage’ argument in favour of free trade is based on a static analysis and that it can be optimal for a country to sacrifice short term gains of free trade to obtain larger gains in the future. A doctrinaire free market approach has not worked anywhere in the world – support from the state has been present in varying degrees in the UK, US, Germany and Japan.
I stumbled on this via Gatesnotes. Aug 16, Jake rated it really liked it. This book answered my questions directly and explained how the economics and politics worked in northeastern Asia and what didn’t work elsewhere.
How Asia Works by Joe Studwell
A lot of it is tough to get through, there is a lot of statistics and so many different players in the game that it is sometimes difficult to keep everything straight. Of course on many of these points Studwell is wrong. For instance, I think that the theoretical arguments in favour of the “infant industry” argument has more credit amongst economists than most people realise. See 1 question about How Asia Works…. The worrks agricultural boom gave these governments the cash to fund industrialisation.
The contrasting policies adopted by the two nations is chillingly jooe by Studwell in the following paragraph: This work cites quite a number of sources and the facts themselves are interesting to know by themselves.