What Fueled the 'East Asian Miracle'?
theatlantic.com
What Fueled the 'East Asian Miracle'?
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Re: What Fueled the 'East Asian Miracle'?
#2[dead]
Re: What Fueled the 'East Asian Miracle'?
#3This starts in the 50s and and seems they argue for Land Reform. Maybe that was part of it. But I say these are far better reasons:
1. A local government friendly to the US. Gov type did not matter.
2. US Workers starting to want medical benefits, by the late 60s, hardly anyone would take a job without benefits. This includes sick time.
3. Environment Controls starting in the 60s. I think this is a big one.
4. High Wages in the US
5. Improved intercontinental flights and cheap shipping. I think in the 60s the US merchant was quickly being outsourced to cheap countries.
6. An of course corporate greed and the rush to make Wall Street happy.
You just need to look at ROC in the 90s, lots of companies started moving manufacturing there because Japan and Taiwan was getting too expensive.
Now I think they are slowly moving out of ROC to places it SE Asia like Vietnam.
Re: What Fueled the 'East Asian Miracle'?
#4This starts in the 50s and and seems they argue for Land Reform. Maybe that was part of it. But I say these are far better reasons: 1. A local government friendly to the US. Gov type did not matter. 2. US Workers starting to want medical benefits, by the late 60s, hardly anyone would take a job without benefits. This includes sick time. 3. Environment Controls starting in the 60s. I think this is a big one. 4. High W…
Extrapolate and combine 1,2,3,4,6: a government friendly with a rich post industrial nation that focuses on financialization as an end unto itself.
(that last trait is a bit more contentious than the former ones)
Re: What Fueled the 'East Asian Miracle'?
#5This starts in the 50s and and seems they argue for Land Reform. Maybe that was part of it. But I say these are far better reasons: 1. A local government friendly to the US. Gov type did not matter. 2. US Workers starting to want medical benefits, by the late 60s, hardly anyone would take a job without benefits. This includes sick time. 3. Environment Controls starting in the 60s. I think this is a big one. 4. High W…
PRC?
Re: What Fueled the 'East Asian Miracle'?
#6From the title, and skimming over this article, I notice an irony: the analysis is "short" by Eastern standards
They're only talking about the last 100-200 years. That's significant on the American time scale, but insignificant on a Chinese one.
It's interesting to me that older cultures like the Chinese, Japanese, and the Maya view history as cyclical, while Americans tend to have more a narrative of "linear progress", or even "manifest destiny" (a term I heard in grade school but probably didn't really understand until being an adult)
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I think Ray Dalio's explanation is the most concise and takes into account the cyclical nature of history (and wow this video has 55 M views now)
https://www.youtube.com/watch?v=xguam0TKMw8
Roughly speaking, [edited] China and India likely had most of the world GDP for more than 1000 years [1] ... you can think of it as a miracle for them to rise again, or just part of a cycle.
And there are absolutely cycles in history, just ones that are longer than any "news" article tends to talk about
I also think Americans are now waking up to a cyclical view. Everyone is talking about how this is the "first" generation to make less money than their parents, or the "first" to have shorter life span
But it's only "first" if you don't recognize the cycles! That's understandable because of America's history, but it is a limited analysis
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[1] edit: I looked deeper into this, and I agree it's flimsy, as mentioned below. But I think the larger point still stands -- it's a only a "miracle" if you're looking at a certain time frame, and n=1
Re: What Fueled the 'East Asian Miracle'?
#7From the title, and skimming over this article, I notice an irony: the analysis is "short" by Eastern standards They're only talking about the last 100-200 years. That's significant on the American time scale, but insignificant on a Chinese one. It's interesting to me that older cultures like the Chinese, Japanese, and the Maya view history as cyclical, while Americans tend to have more a narrative of "linear progres…
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Re: What Fueled the 'East Asian Miracle'?
#8From the title, and skimming over this article, I notice an irony: the analysis is "short" by Eastern standards They're only talking about the last 100-200 years. That's significant on the American time scale, but insignificant on a Chinese one. It's interesting to me that older cultures like the Chinese, Japanese, and the Maya view history as cyclical, while Americans tend to have more a narrative of "linear progres…
The problem with cyclical view appears as soon as one tries to review the underlying causes why this movement happens. You can have rises, prosperity, overshoots, bad habits, slowdowns and depressions coming one after another in a mostly closed system. Or you may consider a system which can be affected by externalities, those which can be so powerful as to cause opium depression or technology copying rise. It's a little like pendulum with external forces, which dictate what's the actual behavior of the pendulum is - disregarding its own internal properties.
Re: What Fueled the 'East Asian Miracle'?
#9From the title, and skimming over this article, I notice an irony: the analysis is "short" by Eastern standards They're only talking about the last 100-200 years. That's significant on the American time scale, but insignificant on a Chinese one. It's interesting to me that older cultures like the Chinese, Japanese, and the Maya view history as cyclical, while Americans tend to have more a narrative of "linear progres…
> Roughly speaking, China had the largest GDP in the world for more than 1000 years
For a continuous duration of nearly 1700 years from the year 1 CE, India was the world's largest economy, constituting 35 to 40% of the world GDP.
Re: What Fueled the 'East Asian Miracle'?
#10From the title, and skimming over this article, I notice an irony: the analysis is "short" by Eastern standards They're only talking about the last 100-200 years. That's significant on the American time scale, but insignificant on a Chinese one. It's interesting to me that older cultures like the Chinese, Japanese, and the Maya view history as cyclical, while Americans tend to have more a narrative of "linear progres…
> Roughly speaking, China had the largest GDP in the world for more than 1000 years For a continuous duration of nearly 1700 years from the year 1 CE, India was the world's largest economy, constituting 35 to 40% of the world GDP. https://en.wikipedia.org/wiki/Economy_of_India
Yes, yes, we know that China and India are becoming extremely nationalistic and like to use their tendencies for historical revionism to find justifications for their new found imperialism. Still I’m not convinced we actually need a fight of propagandists here.