Want to Read Currently Reading Read. The first part was eye opening for me, focusing on agricultural policy and land reform – effectively arguing that the first stage of development should be redistribution to encourage high density labor intensive farming as a means to employ workers and increase acreage yields, which improves the current account and creates a domes This was excellent, very well organized and concisely argued. Only after industrialization should the banking sector be liberalized bit by bit. Publisher’s Summary In the s and s, many in the West came to believe in the myth of an East-Asian economic miracle, with countries seen as not just development prodigies but as a unified bloc, culturally and economically similar, and inexorably on the rise. With similar rates of investment, starting from roughly the same level of wealth, Korea has produced the Hyundai Elantra; Malaysia, the Proton Waja. Studwell outlines a 3 point formula that has been applied in varying degrees across the world. I read The World Is Flat right after this book and they all connected and made a lot of sense.

how asia works by joe studwell

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These markets are their means to escape government control. Jan 05, Kaushik rated it really liked it. You don’t need to agree with everything qsia admit that we need more thinking like this.

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The only critique I have for the book is that it pretty much stops with industrialization and doesn’t really tackle the already dominant tech scene. Lessons in the quest for economic development Excellent audiobook. Most obviously, banks respond to central bank guidance.

how asia works by joe studwell

But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. Parag Khanna Narrated by: The author provides a context for all the economies which helps us better understand the development policies across these countries less.


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.

How Asia Works

This will lead to a surplus in yields, which will lead to profits for the families, which they can then re-invest in their farms or use to improve their own living conditions. There is one more argument I want to add: In scope, nothing else comes close.

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.

As a prescription for the future though, it’s kind of insane.

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 stuudwell and became a huge player in the world economy? Read this book for an overview of the economies of North and South East Asia, as well as a fascinating introduction into the economics of development.

After all you can’t miss out on a third of the planet. I still don’t know.

How Asia Works by Joe Studwell

South Korea’s support for Hyundai, Daewoo, and others had many positive spillover effects for related heavy industries like shipbuilding.

Along the way you learn how countries influenced each other. Early in the 21st century, a stuudwell revolution occurred. Refresh and try again. However, it’s important not to gloss over the failures of heavy state involvement in industry. For instance, what were the conditions in northeast Asia that freed millions of farmers to move to the factories?


George Magnus Narrated by: This book broke a lot of what turned out to be misconceptions and it marvellously explains in a Sapiens-kind-of-way how countries like Japan, South Korea, China and Taiwan have become economic powerhouses while Philippines, Indonesia, Malaysia are trailing far behind, despite having roughly the same starting point.

how asia works by joe studwell

Just a moment while we sign you in to your Goodreads account. Japan, South Korea, Taiwan, and most recently mainland China have grown rich by following this formula; by ignoring it, The rise of the east Asian economies, and the lifting of wkrks six hundred million out of grinding poverty, is the central fact of the past hundred years.

how asia works by joe studwell

He dismisses the success of Hong Kong and Singapore too easily, for one. While the North East Studell countries scale one improbable developmental height after another, the South East Asian nations always seem to be teetering on the asiia of an economic catastrophe perpetually lurking around an unseen corner. Understanding how the post war world works is critical to making that a success. Joe Studwell has spent two decades as a repor In the s and s many in the West came to believe in the myth of an East-Asian economic miracle.

Basic point I think is that nations need to wotks control of their own economic and industrial narratives. Yuval Noah Harari Narrated by: The contrasting policies adopted by the two nations is chillingly captured by Studwell in the following paragraph: