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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Harsha Varma This is an easy read with very little jargon. 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 aorks is a capital BUT indispensable and incontrovertible export targets would lead to a studwwll in the manufacturing sector as was the stellar case with South Korea and the former General Park Chung Hee.
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This work cites quite a number of sources and the facts themselves are interesting to know by themselves. Let sit for 25 years. The key is to ensure that the support is used to acquire world class competencies and also gradually allow full competition. It is, tellingly, the capacity of bank-based systems for enforcing development policies that makes entrepreneurs in developing countries lobby so hard for bond, and especially stock, markets to be expanded.
Overall, an great read, especially the personal anecdotes from the author! But this book should be number one in the list of a serious book lover!
How Asia Works: Success and Failure in the World’s Most Dynamic Region by Joe Studwell
Policies to direct investment and entrepreneurs to atudwell, with an export led growth strategy so as to expose the economy to export discipline, as well as internal competition. Korea such as related party lending have received only a cursory mention – an analysis of this and possible safeguards would have been useful. I picked up this book to understand how the relatively isolated Chinese economy became the powerhouse it is today.
I have visited Japan and ski in South Korea every year. Even in the US, development projects like railroad construction after the Civil War were notoriously corrupt, and all of the same risks of cronyism, rent-seeking, and regulatory etudwell are present in Asia.
Financial crises are devastating no matter how developed your country is, but one with plenty of domestic firms is able to get back on its feet much more quickly than one with a bunch of empty factories that used to be owned by foreign companies. By ‘land reform’ he means distributing land equally among farming families, by taking it off the big landowners.
Having spent most of my life in Hong Kong and having visited many countries in Asia, the book gave me a new sen Was skeptical at uoe and thought this book is going to be all about gossips like it was in the Asian Godfathers.
There is one more argument I want to jof Quotes from How Asia Works: 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 sgudwell with such a simple model.
There is generally a strong appreciation for historical and country specific context, and a solid bibliography for further reading. Coming to the gaps in the book, Studwell has been a bit dismissive of the role played by basic manufacturing setups assembly shops for exports in China, Korea, etc. Be the first one to write a review.
The writing style keeps the reader glued. Or consider the case of manufacturing.
Books by Joe Studwell. This book absolutely nailed it when it came to telling me what I wanted to know. Keep money targeted to long term development not short term profit eg keep it away from real estate speculation.
The picked losers and destroyed them. The simplicity and bluntness of this mechanism makes it highly effective. 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.
Since the most efficient way to get food is to have many small farmers working many small plots of land it will come as no surprise to sustainable-food advocates that this “garden-style” method is typically more effective than US-style agribusinessthe first task of every forward-thinking leader is to break up large estates and redistribute the land to the people.
Dec 11, Jose Papo rated it it was amazing. The hire part is that the government should rightly control the finance system and ensure it works to their interests, instead of being captured by profiteers.
The proper division of land in India has not been applied, or it has been done in a peace meal manner. The closed-economy, perfect-competition growth models featured in most textbooks have little to say on how this is possible. Easily digestible quick read.
Return to Book Page. Although these anecdotes didn’t have a style that particularly grabbed my attention, the author does an excellent job of providing supporting arguments for the strategy.
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They were not made to compete with each other, and no strict conditions for exports were imposed on them. 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 room freed up thereby lets him pack in a remarkable amount of high-level analysis in about the remaining countries: But, left bare, a framework is just a skeleton.
Jan 04, Rajesh Kumar Vaid rated it really liked it. Other things like India may be sending rockets in space but do not have its own car. However, it’s important not to gloss over the failures of heavy state involvement in industry. Habilitado Leitor de tela: Korea, Japan and Taiwan from the middling performers Malaysia, Thailand and the complete failures Indonesia and Philippines – this distinction is backed by the speed with which each of these nations were able to bounce back from the Asian crisis and the drivers of the same genuine industrial competitiveness in north-east Asia against resource wealth in Malaysia.
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. Equally, independent central banks are not appropriate to developing countries until considerable economic progress has been made.
History has so thoroughly discredited this worldview that most serious experts will no longer defend it—debunking it is old ground. The other parts, to do with freedom and the rights of the individual, are no less important.