How Asia Works by Joe Studwell

How Asia Works by Joe Studwell is an in-depth analysis of economic development and history in Asia. The book focuses on several key economies, including Japan, Taiwan, Korea, Malaysia, the Philippines, Indonesia, and China. Studwell’s analysis centers around three main areas: land policy, manufacturing, and finance. He argues that land reform has been essential to the success of Asian economies, giving a kick start to development by utilizing a large workforce and providing capital for growth.

The book also explores how policies ridiculed by economists created titans in Japan, Korea, and Taiwan, and are now behind the rise of China. Studwell examines the best advice the West could offer and how it sold its allies in South-East Asia down the economic river.

Useful takeaways from How Asia Works include:

• To kick-start economic advancement in developing countries, governments should promote household farming, build a competitive manufacturing industry, and harness the power of the financial sector to benefit the economy as a whole.
• Small-scale household farming is more efficient and creates jobs, while large farms generate few jobs and low agricultural output.
• States need to follow a certain sequence of steps to achieve economic success and not try to do everything at once.
• Land reform has been essential to the success of Asian economies, giving a kick start to development by utilizing a large workforce and providing capital for growth.

Overall, How Asia Works offers a blueprint for other developing nations seeking to achieve sustainable economic growth.

What I Liked

I grew up in Southeast Asia and faintly remember the Asian Financial Crisis. I found this book fascinating even as a standalone business book.

What I Did Not Like

Nothing – it’s very accessible, even for a niche global affairs book.

How Asia Works by Joe Studwell

$11.89

In How Asia Works, Joe Studwell takes a close look at the economic development of several Asian countries, including Japan, Korea, and China. He argues that land reform, smart manufacturing policies, and effective finance have been key to their success. I found his insights about household farming and the importance of a structured approach to economic growth really engaging. Having grown up in Southeast Asia, I appreciated how this book connects historical context with actionable lessons. Honestly, I couldn't find anything to criticize—it's straightforward and easy to digest, making it a great read for anyone interested in global economics.

Pros:

• In-depth analysis of economic development in Asia
• Focuses on key economies like Japan, Korea, and China
• Offers useful takeaways for developing countries

Cons:

• Nothing - it's very accessible, even for a niche global affairs book.

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01/21/2025 09:26 pm GMT