Ever heard the old adage? Money goes where it grows.
That is why global capital flows to China and SE+NE Asia have become gargantuan over the last 70 years or so, especially after Deng introduced the Open policy in China in 1979.
That is why global capital flows to China and SE+NE Asia have become gargantuan over the last 70 years or so, especially after Deng introduced the Open policy in China in 1979.
It worked for them for multiple reasons, but, the thing which differentiated the Asians from the Europeans was the progressive work ethic that promoted both smart and hard work together.
Smart work will give you more productivity but at the expense of higher wages, whereas, hard work will give you more output per head but at affordable rates.
All SE-Asian and even the Chinese Megalodon Economies have adopted the latter strategy to date.
All SE-Asian and even the Chinese Megalodon Economies have adopted the latter strategy to date.
Look at Malaysia! Low-wage-Low -Inflation Model Mix works well, which brings FDI into the Manufacturing sectors of the economy.
Kuala Lumpur looks affluent since the 1980s.
The same holds true for other Asian Tigers such as Singapore.
Kuala Lumpur looks affluent since the 1980s.
The same holds true for other Asian Tigers such as Singapore.
Some argue it is the Protestant work ethic which changed China on the mainland, whereas, others argue more favourably for the Confucian Work ethic.
I think the #Brits and #English in particular need to re-workout the work ethics and strategy which will create wealth.
Going to the pub, enjoying a cuppa, and having a nap after every 2 hours won't help productivity.
Sorry!
Going to the pub, enjoying a cuppa, and having a nap after every 2 hours won't help productivity.
Sorry!
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