What can Madagascar learn from the Asian experience of economic development?
I have just visited Malaysia and was wondering what could Madagascar learn. Asian countries have successfully developed their economies and reduced poverty through a combination of strategies tailored to their specific circumstances. Here are some key approaches: 1. Market Reforms and Liberalization: Countries like China and India adopted market-oriented reforms, opening their economies to international trade and investment. This led to increased foreign direct investment (FDI), boosting growth. 2. Manufacturing and Export-Driven Growth: Many Southeast Asian nations, including Vietnam and Thailand, developed robust manufacturing sectors. By focusing on exports of textiles, electronics, and other goods, they created jobs and stimulated economic growth. 3. Investment in Education and Skills Development: Countries such as South Korea emphasized education, resulting in a skilled workforce capable of adapting to technological changes, which is vital for economic development. 4. Infr...