A Brief History of Asia's Sustained Growth

Preface

Chapter 1. Asia's Journey for Economic Growth
1.1 Story of Four Asian Geese' Flight
Flying faster and father/ Why these four countries?
1.2 Four Pillars for Higher Economic Growth
Free and open market economy/ Accountable government and effective policies/ Education and human resource development/
Savings and investment, leading to capital accumulation
1.3 Limits of the Analysis and Necessary Caution
Fallacy of backward looking/ Misunderstanding of causation

Chapter 2. Japan, 'Rise of Mt. Fuji'
2.1 Free and Open Market Economy
Japan, kingdom of bureaucrats?/
Forced opening but a disguised blessing
2.2 Accountable Government and Effective Policies
Strategic industrialization by strong coordination/
Mobilizing and channeling money
2.3 Education and Human Resource Development
Terakoya led to modern education system/
Life-long employment and craftsmanship
2.4 Savings and Investment, Leading to Capital Accumulation
The most successful land reform in the world/ Postal savings, World No.1

Chapter 3. Korea, 'Miracle on the Han River'
3.1 Free and Open Market Economy
Diverging paths of South and North Korea/ From wigs to semiconductors
3.2 Accountable Government and Effective Policies
Military Coup led to economic take-off/ Five-year Economic Development Plans
3.3 Education and Human Resource Development
Tower of cow bones/ Seven consecutive wins of World Skills Competition
3.4 Savings and Investment, Leading to Capital Accumulation
Korean college- graduate miners in West Germany/Entrepreneurial risk-taking

Chapter 4. China, 'Ascension of Dragon'
4.1 Free and Open Market Economy
A hybrid of market system/ Zhenghee's last exploration in 1434
4.2 Accountable Government and Effective Policies
Visionary leadership/ Reforming SOEs
4.3 Education and Human Resource Development
The Cultural Revolution broadened rural education/
Family planning and demographic change
4.4 Savings and Investment, Leading to Capital Accumulation
Chinese saving rate puzzle/ A global magnet for FDI

Chapter 5. India, 'Smart Elephant Awakens'
5.1 Free and Open Market Economy
The crisis in 1991 released shackle of License Raj/ Overcoming historical legacies
5.2 Accountable Government and Effective Policies
Why the economic planning failed in India?/ Market decided a different path
5.3 Education and Human Resource Development
Deep but narrow education/ Bengaluru, hub of IT and software industry
5.4 Savings and Investment, Leading to Capital Accumulation
Unfinished mission, land reform and green revolution/ Affinity for gold

Chapter 6. Asia's ongoing journey for prosperity
6.1 Lessons from the Journey up to Here
Chairs keep balance with four legs/ There is no such thing as one size fits all
6.2 Facing Changing Weather and Height
End of catch-up and deceleration/ Fragmented global economy/
From demographic bonus to onus
6.3 Way Forward in the Future
Sustainable development/ Market plays a bigger role/
Shared prosperity among and within countries

Afterword