Choose a country and weigh its growth, equity and economic control.
Which country achieved the best balance of growth, equity and economic control?
Singapore
- About 8% growth a year, 1965-1997.
- Manufacturing led by multinationals.
Outstanding growth and falling poverty.
Little local ownership of manufacturing.
Malaysia
- Poverty from about 49% to 17%, 1970-1990.
- Foreign ownership down to about 25%.
The best balance of growth, equity and control.
Gaps grew within the Malay community.
Indonesia
- Poverty from about 40% to 11%, 1976-1996.
- Rice self-sufficiency in 1984.
Strong growth and rural gains.
Gains collapsed in 1998; wealth concentrated among cronies.
The Philippines
- Slow growth.
- About two-fifths poor in the early 1990s.
Some recovery and reform in the 1990s.
Neither fast growth nor equity.