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  How should developing countries replicate the rapid growth of China?
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Author Topic: How should developing countries replicate the rapid growth of China?  (Read 391 times)
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CrabCake
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« on: November 01, 2019, 11:19:47 am »

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True Federalist
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« Reply #1 on: November 01, 2019, 12:03:33 pm »

Have decades of war and Communism first, so that the period of returning to a more normal economy will have rapid economic growth. Ignore what you do to your environment for an extra boost.
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Kingpoleon
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« Reply #2 on: November 01, 2019, 08:08:17 pm »

They should not follow the Chinese model in the first place. Their growth is as unsustainable as America’s in the 1920s.
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Devout Centrist
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« Reply #3 on: November 17, 2019, 03:42:42 pm »

I don't think China is extraordinary. To put it simply, if developing countries establish a durable legal system, embark on land reform, and invest in human capital, they should begin to converge with the developed world in due time.

All of that is easier said than done, however, and the change needed to implement those things (and keep them in place) is very difficult.
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mileslunn
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« Reply #4 on: November 21, 2019, 01:03:40 am »

A lot of it is more geographic.  Europe saw rapid growth like this last century and if you look at countries that have seen the biggest growth, they are overwhelmingly all in East Asia although some like Japan have very little growth, but it also post World War II followed rapid growth before slowing down so its really just a matter of what stage they are at.  Japan was the first followed by South Korea, Taiwan, Hong Kong, and Singapore.  Next group is China, Thailand, and Malaysia.  Behind them is Vietnam, Indonesia, Philippines, and India.  If you look at a map of GDP per capita on a global level, you will notice strong correlation geographically of where they are, not just random.  That is because countries economies are heavily impacted by others in their neighbourhood.

While China is quite large, still I believe area you are in plays a big role.  Also move from Communism to more market based economy is a big reason.  Another is ironically with a dictatorship, you can think long term and make unpopular decisions that have long term benefits whereas in a democracy, you try this, you get tossed by voters before the results ever see light of day.  Off course democracies still have many advantages as less corruption, more free though and creativity and besides even if democracy meant slower economic growth, I would still prefer it as economic growth isn't only thing that matters as important as it may be.
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