Miracle Economics essays

Miracle Economics essays In his book Asiaà ­s Miracle Economies, Jon Woronoff examines the dramatically quick economic growth of five Asian countries. The five countries examined are Japan, Taiwan, Korea, Singapore, and Hong Kong. Through his study the author demonstrates that there was no miracle involved in these countries growth. They applied specific strategies that were adapted to their local environment. Some of these strategies worked some didnà ­t. The author says that by examining these nations, one may be able to repeat there success. The book is divided into three parts. In "Part One: Places" the author tells where these countries started from. Some were poorer than average. Some had little natural resources. The people of these countries had different outlooks on the world thus different behavioral tendencies. Part I is divided into five chapters each examining a countries. Woronoff begins Chapter 1 "Japanà ­s Two Miracles," by discussing Japanà ­s first industrial revolution. In 1853 when Commodore Perry opened Japanà ­s ports to foreigners, Japan was feudal society. It was not very evolved nor very modern. Agriculture was good but not enough for the growing population. Japan wanted to learn from the West. Japan sent many students to Europe and the United States. Soon Japan began industrializing. Groups called zaibatsu formed. These zaibatsu dominated industry and commerce. They manipulated politics to suit their own needs. Japan soon began concentrating own building a War Machine. After the Russo-Japanese War, the country went into a recession. But after the First World War, Imperial Japan began growing up until the end of the WWII. The war left Japan resouceless and heavily overpopulated. The victorious Allies gave or rather imposed democratization onto Japan. The zaibatsu were disbanded. Japan was left weak. The United States provided much financial support. Japanà ­s economy then began growing very fast. The Japanese protected...