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Strategic Planning: What are the crucial steps and key principles to develop an Asian growth strategy?
JB
JB
Joy Broto Nath , Global Corporate Trainer & Strategist answered:

Asian countries act differently to an extent, once you understand that it will be easy for you. You can move cautiously with few countries and then apply it to the rest of the Asian countries. I will suggest you begin with East Asian Countries.
The East Asian experience more broadly, as illustrated by Japan, South Korea, and Taiwan, describes an economic development model with distinct policy objectives and institutional requirements at each stage. In fact, contrary to the prescriptions of free market economists, the East Asian model suggests that, especially in the early days of development, governments must sometimes judiciously intervene rather than simply liberalize their economies right away. The appeal of China’s autocratic political system to emerging countries’ elites is abundantly clear. Using the East Asian model as one potential development strategy, the first step is to implement household-based land redistribution programs and other productivity improvement initiatives, such as increasing irrigation and the use of fertilizer. It is easy to see why democracies are not necessarily advantaged during much of this long development trajectory, given the scope and complexity of the intervention required, the extractive nature of many policies, as well as the related need to overcome powerful vested interests. It is here where the comparison between democratic India and autocratic China is so instructive.
However, as economic convergence proceeds over time, democracy will likely regain its footing as the form of government best suited to deliver long-term growth in developed high-income economies. Either way, the key will be to abandon the prevailing orthodoxy that institutional change must invariably precede economic development, and focus instead on tailoring the degree, speed, and sequence of political and economic liberalization to the unique growth requirements of each emerging market.
You can read more here: https://www.strategy-business.com/blog/Lessons-from-the-East-Asian-Development-Model?gko=60f9c
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath

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