How Asia Works
Book description
Until the catastrophic economic crisis of the late 1990s, East Asia was perceived as a monolithic success story. But heady economic growth rates masked the most divided continent in the world - one half the most extraordinary developmental success story ever seen, the other half a paper tiger.
Joe Studwell…
Why read it?
1 author picked How Asia Works as one of their favorite books. Why do they recommend it?
A revelation because it overturned some of the free-market orthodoxy I had imbibed. Industry policy was essential for the rise of Asia’s tigers, but the key insight made by Japan, Korea, and Singapore was that national champions had to be internationally competitive.
Where they were protected from competition–car maker Proton in Malaysia and aircraft manufacturer IPTN in Indonesia–they failed. The question is whether that same logic applies to China, where the domestic market is huge. I suspect we are finding out via its EV industry.
From Sam's list on understand Asia’s new power politics.
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