#eastasianmiracle #economicdevelopment #economics #southkorea #china #taiwan

This video has two sections. The first section gives a snapshot of the East Asian Miracle. The second section offers an analysis of the miracle and details how the most important questions related to how the miracle was achieved remain answered to this day.

In the history of mankind, there has been no other region, neither in Asia nor in the West, that has rapidly transformed from dirt poor to incredibly wealthy within a single generation.

Their transformation story has no parallels in history nor in the modern world.

Such was their rapid rise that the region was dubbed a “Miracle”.

Thus the East Asian Miracle.

Or specifically, the North East Asian Miracle!

That’s because not all nations in East Asia succeeded.

The nations in the South East Asia fared well only for a few decades before their growth fettered out.

Unlike the South, the Northern nations, Japan, Taiwan, South Korea, and China grew rapidly without a hiccup for no less than four decades.

The region became rapidly wealthy all the while never facing any economic downturns.

Their development policy differed starkly from the mainstream economic theory or the ones implemented by the Global South or South East Asia.

So, what did Japan, Taiwan, South Korea, and China do that led to the successful transformation of their economies?

Watch the full video to get a clear understanding of the miracle.



The video also gives a brief introducing to the book, The General Theory of Rapid Economic Development. Visit [ Ссылка ] to learn more about the content in this video.

The book deals with the greatest issue facing the Global South. That is, the economic development of low-income nations.

The General Theory is a breakthrough in the understanding of the Miracle of North East Asia paving way for many developing countries like India to chart the most appropriate course going forward and a once-in-a-hundred year rarity that shall transform the subject discipline of economics for the better.

With a great degree of reliance on historical national accounts data, capital stock data, and trade data, the title—comprising ninety-seven graphs, four tables, and six flowcharts and spanning 460 pages—accomplishes the rare feat of successfully decoding the Asian Miracle and building a theory for other developing nations to replicate.

Book website: [ Ссылка ]

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