The previous part of this article discussed how many economic miracles have been midwifed amid the chaos of global geopolitics. Several such examples exist. Both South Korea and Taiwan have been described as miracle economies. These countries rose like phoenixes from the ashes of destruction.
What is not discussed all that much is the role played by their patron state, America, in boosting their rise. In an exhaustively researched book, Geopolitics and Globalization, noted political scientist Baldev Raj Nayar notes that both these miracle economies were herded towards high growth rates by an indulgent America that was keen to use them as its first line of defense against communism in the Asia-Pacific. In the 1950s, American aid to South Korea was 15% of its GDP, five-sixths of its exports and 80% of gross capital formation.
Esta historia es de la edición December 23, 2024 de Mint Ahmedabad.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 23, 2024 de Mint Ahmedabad.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
At long last, the UK is shooting for the moon on clean energy
An ambitious plan revives hope but it will be a race against time
Rupee's managed float: Should RBI shift gear?
To Mint Street's credit, India resolved a macro trilemma in its own special way. Recalibrate it for a more market-priced rupee if the expected trade gains outweigh price-stability risks
Can we use today's geopolitical chaos to uplift India's economy?
Successful economies have geopolitics to thank but India may be letting its opportunity slip away
What market taught investors in 2024
One of the top sectoral performers of the year 2024 has been pharma, which has maintained its post-covid momentum
FREELANCERS CAN AVOID HIDDEN FEES, MAXIMIZE EARNING
Being aware of payout options and financial solutions helps freelancers with smarter choices
What you must know about rental agreements, registration process
According to the Registration Act, 1908, a rental agreement for less than 12 months need not be registered
ISRO to study crop growth in space
Demonstration of seed germination in outer space, a robotic arm to catch tethered debris there, and testing of green propulsion systems are some of the experiments planned on the POEM-4—the fourth stage of Indian Space Research Organisation's (ISRO) PSLV rocket that remains in orbit after launching a satellite.
China says US is 'playing with fire' after latest aid for Taiwan
The Chinese government protested on Sunday the latest American announcements of military sales and assistance to Taiwan, warning the United States that it is \"playing with fire\".
Akasa to add more planes this fiscal
Akasa Air is in continuous discussions with Boeing on aircraft deliveries and expects to add a few more planes to its fleet in the current fiscal ending March 2025, the airline's chief Vinay Dube has said.
IOC probes bribery allegation of US cos
State-owned Indian Oil Corporation (IOC) has begun a probe into allegations of a US speciality chemicals firm bribing its officials 15 years ago to obtain contracts to supply catalysts, according to a company's regulatory filing.