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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Want to Read saving…. 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? I have recommended this books to few of my PG students, especially those with Agricultural backgrounds.
Additionally, it explains why Latin America also failed in this endeavor. Studwell’s book is a coherent, well-reasoned primer on the causes of economic growth and lack thereof in east Asia. But in Malaysia, Proton and Perodua were created to serve different markets. Through careful historical analysis, the author has clearly disproved the myths propagated by experts on both sides of the left-right divide regarding the drivers of economic success.
How Asia Works: Success and Failure in the World’s Most Dynamic Region
Any book that tackles such a broad subject invites criticism, but for the most part the book seems to mesh well with other books I’ve read. Be the first one to write a review.
With manufacturing, industrial development alone is not sufficient, Studwell argues. I have more to write. I learned a lot. The contribution of Joe Studwell is that he argues in favour of a very specific type of “infant industry” policies, that combines large scale public support for export oriented industries with a consistent “culling” of any company who was not up to the job.
In Japan, Taiwan and particularly the South Korea, the governments could not avoid dealing with the cronies. Although his historical exploration of the Asian experiences is appealing and informative, I am not sure if the suggested policy implications are right.
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. But being boldly wrong makes it easier to delineate where one disagrees. The last chapter is on China, and talks about how all these things are also playing there, but on a much larger scale and studwelo the twist that many of the large wsia are state-owned.
Land reform has been essential to the success of Asian economies, giving a kick start to development by utilizing a large workforce and providing capital for growth. I bought this book on the recommendation of the Marginal Revolution blog.
This condemns strategies based on either mass collectivization or premature shift to large scale industrial agriculture. Refresh and try again. Although not a policy prescription in the strictest and narrowest interpretations of the t “How Asia Works In hkw sense his story is backward looking – useful as a framework for thinking about how SEA, perhaps, which is relatively behind the curve, could develop, but less useful for thinking about how North Asia will look in years.
In Europe, the Industrial Revolution began first with the textile industry, which is a path many countries still take e. This was excellent, very well organized and concisely argued. Studwell goes into a great amount of detail on how various countries’ financial sectors either contributed to their paths of development or inhibited them, asiw the Asian financial crisis of course figures prominently as a warning sign to countries that were on the wrong development path.
A very interesting book on how North Stuudwell and South East Asia diverged since the past 50 years or so. The book more than merely lives up to jpe hype generated.
I have read this book following the positive Twitter review by Noah Smith https: The key to all four North Asian nations: 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.
The best part of the book is that it makes no bones about the wrinkles in the growth story of Asia – the need to allow some supernormal profits, the role of an empowered, technocratic bureaucracy and using some rents to align private sector behaviour to developmental needs. But Tun Mahathir tried to pick winners from several Bumiputra individuals that he had chosen. 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.
Open Preview See a Problem? Of course, since the growth to capital and labor can take you so stkdwell, productivity is the secret sauce. At least not in a noticeable way! Farming’s relationship to political structure is complex, but most underdeveloped societies seem to be stuck a sort of feudal pattern, with a few large landowners controlling vastly disproportionate shares of each country’s land and hence political system note that this harmful pattern may have been encouraged in former first-world studwrll.
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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: I enjoyed it a good deal and the theme of agricultural reform as a precursor to the industrial revolution in Dtudwell Asia hw new to me.
This is a must read for anyone interested in understanding the realities of the development process. Or China, which does not have a robust legal system. With manufacturing, industrial development alone is not sufficient, Studwell argues. But this leaves open the question why this type of policies was possible in Japan, South Korea and Taiwan, and not in Thailand, Malaysia, Indonesia or the Philippines.
Finance – A tool to accelerate industrialization, never a end in itself. However, I clicked on 4 stars because of the reason that he has not treated India in this book! For instance, it is not clear when or why a country must switch from its developmentalist strategy to a more market-friendly regime. Don’t let the cronies take control. It was a page turner. This should be stimulated by the government.