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What ties together their poster boys of South Korea, Taiwan and Singapore? They all had a baseline of education and decent government (for corporations, anyway
by rippercushions 4y ago
What ties together their poster boys of South Korea, Taiwan and Singapore? They all had a baseline of education and decent government (for corporations, anyway), which they used to attract foreign investment (read: money flowing into the country) for industries that employed large amounts of people in roles where they could learn useful skills, kick-starting middle class wealth that could then propel the rest of the economy forward.
Most poor countries only have investment in extractive industries (oil, minerals, etc), which employ very few people, and the skills they learn are next to useless for anything else. The next rug up the ladder is places like Cambodia and Bangladesh, where investment goes into labour-intensive but low-tech industries like making clothes, but the government is too corrupt and the people too badly educated for much more. Although Bangladesh, in particular, has been a quiet success story lately, eclipsing India in GDP per capita.
- bennysonething 4y agoActually there is a simpler explanation: Rule of law Property rights
- SQueeeeeL 4y agoWait, I didn't realize Ghana was an anarcho communist state!!! I just assumed it was typical stuff like being endlessly marginalized and sold out by the powerful, and their population being treated like oxen by foreign investors, but that also makes sense!
- imtringued 4y agoThe article is about how that isn't enough.
- Leary 4y agoThey were all part of the Sinosphere?
- zardo 4y agoThey were all cold war economic influence battle grounds that saw huge investment from the US.