It’s hard to believe today but South Korea in the 1960’s was the poorest nation on Earth. Far poorer than even China.
In the post World War II era, Singapore was also deeply impoverished and wrecked by the legacy of war and colonialism. Hong Kong as well. Taiwan was poor too. Japan was decimated by the war.
All these countries ended up becoming wealthy and prosperous due to liberalization and capitalism. South Korea, Taiwan, China, Singapore, Hong Kong, Japan. These places are all wealthy today.
Of course liberalization and capitalism was not the only factor. I don’t know much about the Latin American economies but I will take your word for them in terms of being poor. And India has many issues too.
That’s what I’ve been thinking about recently. It’s interesting to see what people say.
Also thank you for the book recommendation.
In the post World War II era, Singapore was also deeply impoverished and wrecked by the legacy of war and colonialism. Hong Kong as well. Taiwan was poor too. Japan was decimated by the war.
All these countries ended up becoming wealthy and prosperous due to liberalization and capitalism. South Korea, Taiwan, China, Singapore, Hong Kong, Japan. These places are all wealthy today.
Of course liberalization and capitalism was not the only factor. I don’t know much about the Latin American economies but I will take your word for them in terms of being poor. And India has many issues too.
That’s what I’ve been thinking about recently. It’s interesting to see what people say.
Also thank you for the book recommendation.