Global capitalism
Why is it that only two large developing capitalist economies* have succeeded in becoming part of the rich capitalist club in the last 50 years? Measured in GDP per capita and starting at $3000 per head (PPP real) 40 years ago, Taiwan and Korea now have per capita GDPs over $25,000. In the same period, no other Asian tiger or Latin American economy has risen above $13,000, still within the World Bank‘s middle income range.
Note that both Taiwan and South Korea were American-supported military regimes at the peak of their economic development.
*United Arab Emirates or Singapore, for example, cannot be called "large capitalist economies" although they have a very high per capita GDP.
Why is it that only two large developing capitalist economies* have succeeded in becoming part of the rich capitalist club in the last 50 years? Measured in GDP per capita and starting at $3000 per head (PPP real) 40 years ago, Taiwan and Korea now have per capita GDPs over $25,000. In the same period, no other Asian tiger or Latin American economy has risen above $13,000, still within the World Bank‘s middle income range.
Note that both Taiwan and South Korea were American-supported military regimes at the peak of their economic development.
*United Arab Emirates or Singapore, for example, cannot be called "large capitalist economies" although they have a very high per capita GDP.
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