Joe Studwell

An Economist Best Book of the Year from a reporter who has spent two decades in the region, and who the Financial Times said “should be named chief myth-buster for Asian business.”In How Asia Works, Joe Studwell distills his extensive research into the economies of nine countries—Japan, South Korea, Taiwan, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and China—into an accessible, readable narrative that debunks Western misconceptions, shows what really happened in Asia and why, and for once makes clear why some countries have boomed while others have languished.Studwell’s in-depth analysis focuses on three main areas: land policy, manufacturing, and finance. 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. With manufacturing, industrial development alone is not sufficient, Studwell argues. Instead, countries need “export discipline,” a government that forces companies to compete on the global scale. And in finance, effective regulation is essential for fostering, and sustaining growth. To explore all of these subjects, Studwell journeys far and wide, drawing on fascinating examples from a Philippine sugar baron’s stifling of reform to the explosive growth at a Korean steel mill.“Provocative . . . How Asia Works is a striking and enlightening book . . . A lively mix of scholarship, reporting and polemic.” —The Economist

For 700 years, ever since outsiders first wrote about the place, the world has believed there are untold riches to be harvested in China. More recently, with the rise of globalisation, the spread of capitalism, and the growth in its population to 1.3 billion, the belief in China's unparalleled potential has taken on the order of an obsession. During the 90s, China astounded the world with double-digit annual growth rates while attracting over $300 billion in foreign investment. Politicians, economists and business leaders everywhere foresaw in China a market for goods and services to dwarf all others. In this thoroughly researched and engaging book, Joe Studwell provides a provocative analysis of the China Dream'. He takes to task these predictions of growth - and instead foresees an economic crisis for China in the wake of the foreign-investment gold rush of the last ten years. A crisis that will destroy the hopes of outsiders realising their investment dreams.

For years, China's economy has boomed while its equity markets have languished. Now the opposite is economic growth is ever more sluggish, while the stock market surges. Is the buoyant stock market a temporary aberration, "irrational exuberance", or a sign of profound change in China's financial system? Joe Studwell argues that China's experience echoes that of the other major East Asian Japan, South Korea and Taiwan. Each of those countries went through a high-growth period characterized by intensive investment and by severe repression of financial markets. Financial repression was the tool governments used to ensure that national saving was channeled into the investments favored by the state's development infrastructure, basic industries and export oriented manufacturing. During this period equity-market returns stayed low even though economic growth was rapid. Eventually, each of these countries made the transition to more efficiency-driven growth. As they did so, financial markets were freed up and stock-market booms ensued, even as economic growth slowed to more sustainable levels. Today China is in the midst of a similar transition. The capital-intensive growth of the past is giving way to an economy driven more by services and consumer spending, and the government has undertaken broad reforms to increase efficiency and foster better capital allocation. In such an environment it is almost inevitable that investors in China's equity markets will enjoy far greater dividends from the growth of the world's second largest economy.

Asya Nasıl Başardı'da Joe Studwell, dokuz ülkenin (Japonya, Güney Kore, Tayvan, Endonezya, Malezya, Tayland, Filipinler, Vietnam ve Çin) ekonomileriyle ilgili kapsamlı araştırmasını; Batı'nın yanlış kanılarını çürüten, Asya'da gerçekte ne olduğunu ve neden olduğunu gösteren ve neden bazı ülkeler hızla yükselirken diğerlerinin durgunlaştığına açıklık getiren kolay anlaşılır, okunaklı bir anlatıya dönüştürüyor.Studwell'in derinlemesine analizi üç ana alana odaklanıyor: Arazi Politikası, Üretim ve Finans. Büyük bir iş gücünden yararlanarak ve büyüme için sermaye sağlayarak kalkınmaya hızlı bir başlangıç sağlayan toprak reformu, Asya ekonomilerinin başarısında hayati önem taşıyor. Studwell, üretim söz konusu olduğunda endüstriyel gelişimin tek başına yeterli olmadığını savunuyor. Bunun yerine ülkelerin "ihracat disiplinine" yani şirketleri küresel ölçekte rekabet etmeye zorlayan bir hükümete ihtiyacı olduğunu ve finans alanında ise büyümeyi teşvik etmek ve sürdürülebilir kılmak için etkili düzenlemelerin gerekliliğini vurguluyor. Studwell tüm bu konuları incelemek için çok uzaklara, dünyanın diğer ucuna sayısız yolculuk yapıyor ve Filipinli bir şeker baronunun reformları engellemesinden Kore'deki bir çelik fabrikasının tartışmalı büyümesine kadar çok ilginç örneklere yer veriyor.“Kitabı oldukça ilgi çekici buldum... Studwell'in kitabı, tarımın kalkınmadaki kilit rolünü ifade etme konusunda okuduğum diğer tüm kitaplardan daha iyi bir iş çıkarıyor...Gelişmekte olan bir ekonominin başarılı olup olmayacağını gerçekte neyin belirlediğini anlamak isteyen herkes için muhteşem bir okuma.”–Bill Gates "Yılın En İyi 5 Kitabı""Etkileyici! Asya Nasıl Başardı, çarpıcı ve aydınlatıcı bir kitap. Bilim, habercilik ve polemiğin heyecan verici bir karışımı."–The Economist"Kısa ve öz belirtmek gerekir ki, iyi yazılmış ve entelektüel açıdan güçlü bir kitap... Studwell'in tezi cesur, argümanları ikna edici ve üslubu sert. Tüm bunlar son derece okumaya değer ve muazzam bir kitap ortaya çıkarıyor."–Financial Times"Dönüm noktası niteliğinde bir çalışma."–Asia Times (Bangkok)ÖdüllerEconomist Yılın En İyi KitabıFT Goldman Sachs Yılın En İyi İş Kitabı Ödülü için uzun listeye alındıBill Gates tarafından Yılın En İyi 5 Kitabından biri olarak seçildiBill Gates'e Göre Herkesin Okuması Gereken 17 Kitaptan Biri

The birth of new nations, independent democracies, the unprecedented growth of cities from Lagos to Cairo; the African continent is booming. So why do myths about underdevelopment, unproductive land and overpopulation remain?In a groundbreaking new study of Africa's developmental history, economist Joe Studwell debunks long-held views about the continent's presumed resistance to growth, charting monumental changes in government, demography and asset management.Considering everything from settler colonialism to soil conditions, mineral extractivism to disease development and eradication, Studwell persuasively argues that the seizing back of land, people and states across Africa, has also been the seizure of mass economic development. From slavery to independence and beyond, this is the definitive account of the world's second largest continent - and an optimistic look to its future.

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