South Korea and Taiwan went from poverty and postwar devastation in the 1950s to very high levels of industrial development and per capita income in just 50 years through neo-liberal policies.

Question

Quizplus · Accepted Answer

South Korea and Taiwan achieved their rapid economic development and transformation through a mix of government-led industrial policies, export-oriented strategies, and significant investment in education and technology, rather than purely neo-liberal policies which advocate for minimal state intervention in the economy.

South Korea and Taiwan Went from Poverty and Postwar Devastation