3 ms·
Of course. China took inspiration from them. They all followed an almost identical, although subtler model. Singapore and Hong Kong made less use of tariffs and
by crdoconnor 9y ago
Of course. China took inspiration from them. They all followed an almost identical, although subtler model. Singapore and Hong Kong made less use of tariffs and disguised their subsidies better, and made greater use of currency manipulation, though.
Western economists, by and large, advocate doing the exact opposite of what they all did.
90s Russia is a good example of where those recommendations were taken to heart. It didn't go well:
http://fair.org/extra/harvards-best-and-brightest-aided-russias-economic-ruin/ http://fair.org/extra/harvards-best-and-brightest-aided-russ...