Myths of Asian Capitalism

Myths of Asian Capitalism

If any national leader can claim to have worked an economic miracle, it's Singapore's Lee Kuan Yew. During his time as prime minister, from 1959 to 1990, the gross domestic product of this tiny country grew more than tenfold -- from $8 billion (in 2010 inflation-adjusted dollars) to $98 billion. Today the number is pushing $400 billion. When Lee took office, Singapore was poor; in 2015, it's one of the richest countries in the world.

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