I know it's Mission Impossible with you, so I will stick to a few words.
Long diatribe. US just had one of the worst economic crisis recently that had ripple effect globally.US was and is still a developed country. Asian financial crisis affected the asian tigers when they had developed.
So? Who said that a crisis, of any sort, can't occur after a country is developed? What I really picked up on at the start was this: "
korea was already developed and could entertain imf nonsense". Is it your belief that at the time Korea was "developed" and "could entertain .."? As much as we here respect your expertise, I'll go with the Korean opinions on that one.
Most of what you reproduce is a matter of interpretation by those who want to see things as they wish they were, rather than as they actually are. A little, but not uncommon, story:
Doctor: Slow down there, buddy. You could ruin your health. STDs etc.
Guy: I'm on a roll, Doc. Later for you!
..... <much later> .... Guy: Doc! Doc! My thing is falling off!
Doctor: No kidding. Well, that was the whole point about the meds and so on.
Pundit: Yes, his dick fell off. And, yes, he is permanently traumatized. But think of how many good fucks he had before that!
When did South Korea grow - 60s,70s,80s, 90s and when did the Asian Financial Crisis happened the end of that period.
I'm unclear as to what you mean by "when did South Korea grow?". Perhaps you could give me your views on its growth before the crisis and after the crisis, by way of specifying the "when"?
How did South Korea and Asian tigers grow by doing the opposite of whatever IMF & WB was recommending. When they told them to open their markets for competition - they double down protectionism. When they told them to focus on import-substitution - they focused instead on export driven manufacturing. When they told them to cut down on social spending - including for education - they went ahead to increase social spending - like universal schooling and health care. When IMF told them cut debts & public investment in infrastructure - they increase took more debts and financed their infrastructure.
You are painting a blanket picture of a whole bunch of advice given to a fairly broad region. As I see it, from the Seoul point of view, some of that advice---whatever it was, should have been taken--and that debate has just been revived. But we need not dwell on that right now. Perhaps we can take it small-small. Home-style. How about we do it one small question at a time?
Small Question #1: Yes, the Asian Tigers have done very well from export-driven manufacturing. So has places like China. My first question is this: how is Kenya doing in any kind of manufacturing, let alone export-driven manufacturing, and what are the prospects for change?
Kenya's current grand plan is that manufacturing will be 20% of GDP y 2020? How? No. it won;t do to just say "look over there!. they did x, y, and z in Asia!
We'll proceed once some of these Grand Plans are clear. Ignore the Nasty Outsiders, pick any one of the BIG 4, and tell us about Milk & Honey.