Asia.. The Most Extraordinary Success Story The World Has Ever Seen..How Does It Work?
Asian countries have led the way in the world in terms of the quickest progressions from poverty to wealth.
During the recent global crisis the Western world should have noted the methods certain Asian Tiger states adopted to achieve empowerment on such a grand scale, the world has never seen anything like it before in its entire history.
The scale of our misunderstanding about how the needs of emerging economies differ from those of developed ones is truly shocking.
Phenomenal developmental success has been preceded by major crisis.
These nations re-learn and follow lows by phenomenal developmental success.
Humans can learn similar lessons. There are Asian countries that fail to interact with others.
North Korea, Laos, Cambodia, Myanmar, and Papa New Guinea.
All found at the bottom of the United Nations Human Development Index (HDI) rankings.
These countries have little to learn from, and are seldom studied in books or at University.
The reason for the failures of these sates are varied, but one common characteristic leaps out: they are all politically and economically introverted.
In varying degrees, these countries are re-learning the old-lesson of pre- 1978 China, pre-1989 Soviet Union and pre – 1991 India: that if a country does not trade and interact with the world, it is all but impossible to get ahead in the development game.
In terms of crisis and success stories, the countries above because of their failed interactions they remain stagnant. You can correlate humans in a similar way to that of countries.
Interaction is easier than ever before through the Web 2.0 – networking, sharing knowledge is more possible now than ever before with social media platforms LinkedIn, WordPress, Twitter, Facebook, Instagram Reddit and now phenomenons like SteemIt.
Restricting learning about the failure to success for whole populations and not just individuals, is better focused on countries who have had to progress and adapt.
If you take Asia's two main offshore financial centres – Hong Kong and Singapore (a more accurate description of these two is port-offshore financial centres because of their dual role as shipping hubs.) As noted, much pointless and deeply misleading debate has been promoted over the years by comparing the development of, say, Hong Kong with that of China, or that of Singapore with Indonesia.
The world bank has been a prime offender.
My aim in further studies of mass economical success and failure lessons is to not add to the detritus. Offshore centres are not normal states. Around the world, offshore states like Hong Kong and Singapore compete by specialising in trade and financial services while enjoying lower structural overheads than other countries, which have larger more dispersed populations, and agricultural sectors that drag on productivity. Offshore centres' lower overheads mean they have a built in fiscal advantage. Yet they can never exist in isolation – they are in a strict sense parasitic, because they have to have their host or hosts to feed on.
With the omission of failed states and offshore centres, and the adjustment of the Island of Taiwan in politically incorrect but economically essential fashion – as a standalone state. Despite being recognised by most governments as a province of the People's Republic of China, Taiwan has functioned as a political and economic entity since 1949. Before that the Island was a colony of Japan for more than half a century. With a population of 23 million, Taiwan has a developmental story that is distinct from that of mainland China, and one which exhibits some striking and under-reported policy similarities. Therefore, I will separate this state when delving into the nine other significant east Asian economies: a north east Asian group of Japan and its two former colonies South Korea and Taiwan; a south east Asian group of Thailand, Malaysia, Indonesia, and the Philippines; and China and Vietnam.
One of the reasons for interest in the East:
Lord Alan Sugar made his billions embracing Easterners throughout his life. His book 'What You See is What You Get' has more tales of his time spent in the East, where he set up multiple supply lines across many states, provinces and countries. Japan and Hong Kong appear in the pages of his book hundreds of times, South Korea is where many of his innovations were patented and produced. He provides in depth analysis about how he worked with business people from the East. It makes you wonder why there are not more SMEM's start-ups following his business model. AMS supply from the East enabled him to open OEMs and EMS in the UK. He made the most of what this wonderful world of trade, export and supply can do for businesses and entrepreneurs in the West.