Joe Studwell is a stud and knows Asia pretty well having written and lived in the are some two decades. in his brilliant economic masterpiece called "How Asia Works he writes about how one of the most divisive regions in the world was able to transform and have an extraordinary turnaround from the most poverty and war-wrecked lands one could imagine. he debunks Western misconceptions on the economies of nine east-Asian nations and explains the important role of their national governments in increasing the living standard of these countries and producing these simple "miracles" that really are not that hard to understand.
Studwell explains was an acute focus on manufacturing industry combined with what he calls "export discipline" to extract high returns from industrial subsidies. the importance of an export driven economy cannot be overstated for a nation to have as policy and want to see equal growth and not what we see with the Anglo-America nations today. In Japan and Korea a system of incentives rewarded companies for export success in competitive global markets, for instance by making capital available only to those companies that boosted market share abroad. The mockery of western economists of these East Asian policies blew up in their face and lead the Asian countries foolish enough to listen to Western pressure economic groups off the economic bridge and into a lake of increased poverty. Studwell knows and talks about how these Asian countries were able to grow and export despite the best efforts of the United States to control and influence this growth for empire.
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