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Study countries like Singapore, Korea. They are countries that in the last 50 years or so were able to escape poverty in just one or two generations. Maybe ev
by metastart 12y ago
Study countries like Singapore, Korea. They are countries that in the last 50 years or so were able to escape poverty in just one or two generations. Maybe even Vietnam or Thailand which I think are not quite in poverty so not nearly as prosperous as Singapore or Korea.
The education system in both countries is really really intense -- like Korean kids go to school at 8am and get back home at 9pm!!!
It's very hard to say -- obviously or there wouldn't be poor countries! For example, there are a lot of attempts to explain China's success versus India. Indians will blame corruption -- but there's massive corruption in China. Some observers say that it's China's iron-fisted rule that gets things done that's driven development instead of India's clunky not-so-effective democracy. But most observers seem to find and you would expect that democracies tend to have economically better off populations.
India to some extent has become internationally famous as a hub for software development -- and it's certainly helped India and positions India fantastically well for the future as softwares gets more and more important. But if you look at India's accomplishment to date and the IT industry -- it looks really pathetic actually!! But that's how you start. India's whole IT industry is around $100 billion/year in revenues for something like 2.5 million people. IBM does that much in revenues with maybe 400k people or 16% as many people!! Google does $60 billion/year or 60% of the entire Indian IT industry with something like 3% as many people...so Google is like 20x more efficient!!! So the Indian IT industry is literally just throwing cheap labor at problems -- not very creative or intelligent. But anyway, that's how you start. I wonder if you can go back and look at when China's manufacturing hub was $100bn/year -- maybe sometime in the 1980s and see how it evolved versus India's IT industry growth, and also how wages increased. Maybe India can follow such a trajectory as China did. China now wants to build up IT!
Just a few thoughts, observations!