10 Countries with ECONOMIC MIRACLES!
ฝัง
- เผยแพร่เมื่อ 14 พ.ค. 2024
- Throughout history there have been changes made to poor countries to make them rich and vice versa. These massive periods of economic growth and quality of life improvements are sometimes called economic miracles. Here are 10 countries who have went through these economic miracles in the modern era.
#h0ser #economics #geography
10 Economic Miracles, 10 Countries with Economic Miracles
#5 was Chile but I have taken it out because it doesn't belong in this video. Every other country had massive quality of life improvements during their miracles, Chile had a quite large reduction in quality of life despite GDP per capita spiking.
Respect the decision. What would you but on this list instead
hey, do you mind giving us the ost (songs) that used in the video please ?
Pucha la weaa 😅
Given people have mentioned other contenders like Singapore, maybe try that?
It's understandable. The economic "miracle" is a lie that far right politicians like to spew today. At that time, the economy was super unstable and only began to recover when democracy returned to Chile.
Our economy has improved, but we are one of the most unequal countries in the world
Kinda surprised Singapore isn't on this list considering they were dealt a pretty bad hand with their forced independence, tiny size, surrounded by vastly larger and more materially rich countries and being something of a dictatorship, they managed to become one of the wealthiest and most well developed areas in the world.
Singapore is literally the inspiration behind many countries development. Deng took inspiration from Lee Kuan Yew. Agree, a very strange omission.
And Singapore is the most significant counter example of the saying tropical countries can't be rich.
@@starsky9832 yeah and well planned and organised. Most tropic countries haven’t got nice architecture and streets but Singapore made it work. They have glass buildings but also know what colour schemes/housing designs look pleasant in tropical climate where American or communist architecture doesn’t look great. Vietnam also looks nice. Hanoi etc they have proper pavements and plan well along rivers. Impressive considering their average income is less than $4000 USD. There are countries in Middle East and Delhi, India which look like large slums despite having comparable incomes due to no urban planning. In Africa maybe only Morocco and Tunis in Tunisia have nice looking cities. Confucian culture places emphasis on aesthetics.
@@rohanindra6401 nice observation, thanks
one word...geopolitics behind Singapores rise.
7:10 As an African (Nigerian), Botswana's story is so inspiring. So very few post-colonial African leaders managed to lead their countries onto better heights after colonialism. Many simply went the route of marxism and "anti-western" and destroyed their nations with authoritarianism and incompetence. The best one I know is Seretse Khama of Botswana. He and his fellow officials managed to negotiate for a peaceful transfer of power from the British and actually kept the systems of economics and government and even maintained good relations with the white population and the British government. Today, Botswana is one of the freest, economically prosperous and stable countries in Africa.
Botswana doesn't have 200 million people and overpopulation problem
@@jackholman5008 Because we are 71% desert, and we do have land shortage here, I'm from Botswana
@@nakoreacts4795 that's not bad there's underground aquifers and with modern green house agriculture it shouldn't be a problem like with the Israelis
@@jackholman5008 You're right to an extent, Israel has helped us with our water situation more than any other country and our agriculture sector is more efficient but we cannot reach Israeli levels as quickly or at all because the costs of building infrastructure will be too much for us. For context, Botswana is about the same size as either Texas, France or Madagascar and our GDP last I checked was $22bn
@@jackholman5008 If population metrics were the main determinant for a country's success, then Madagascar, Niger republic, Congo and Zimbabwe would be the richest and nost developed countries in Africa since they have less than my country's population.
Another thing to kinda note about the South Korea vs North Korea economy is that throughout history, the Northern part of Korea was the richer country, having most of the peninsula's natural resources, and the South was a rural, farm/fishing-oriented poor area.
Plus North Korea had a land border with USSR/China to trade with but South Korea was essentially an island. That forced SK to build ships and they now build most ships in the world.
Yeah North was always less populated but more industrial. Which is no longer true mostly because the south has had much better access to global markets than the North.
Worth mentioning though, the south really did take awhile to outgrow the North and even longer for life expectancy to catch up. North was richer until the 70s and healthier until the 90s when liberalization in the south and famine in the North changed an apples and oranges comparison to maybe more like a open buffet to foraged wild grasses comparison.
Also its imporrant to note that North Korea also had the vast majority of the Industries that Japan had built in the peninsula.
@@petersmythe6462
How would the two compare if the north had no sanctions? Do you think the gap would still be massive?
@@1wun1 ye cuz they forbid foreign investment. They need to remove Juche ideology and adopt capitalism like China and Vietnam
Tell US stop bully North Korea and thing would change
Economic miracles every developing country's dream
Chilean here
Actually on the new millenium and the 90's, our economy actually boomed
Because yes, pinochet made those reforms, but the market was a rollercoaster of ups n downs, and when the guy left, the economy actually healed
There would be no market boom on the 90s if there was no pinochet.
Germany kind of had 3 economic miracles in less than 100, thought that would be worth mentioning. First one after it got unified going from a at most average European economy to maybe second to England if not first until 1900, then after being economically destroyed after ww1 to again be a very rich nation, and after ww2 with many cities getting up to 90% destroyed and split in two to becoming the 3/4 largest economy in the world
True! Maybe the changes Germany went through 1870-1990 are seen as former nations and therefore not included in the video?
@@fjooyou I don't know why he didn't mention germany. It's probably the country with the most economic miracles in roughly a century
*UK
The whole UK was industrialized, not just England.
For the period after WW1, I would not say that it was extremely economically successful, given how it did have one of the worst hyperinflation and instability during 1918-1923. However, after that the economy did pick up amazingly well, due to surprisingly competent governance from amazing people like Gustav Stresemann or Friedrich Ebert. For WW2, I think a case to be made that Germany massively benefitted from the Marshall Plan that saw the US pumping massive amount of money into it. Not saying that it doesn't deserve a spot, just trying to put in some context with it.
@@leoe.5046 I think this video is very pro-capitalist and pro-free market and that's the main reason he didn't include germany, germany was a very protectionist and regulated economy since the beggining.
Another notable example that is excluded from the list: Mauritius. Back in 1960s it is considered a basket case country with life quality parameters mirroring India (where most of the inhabitants came from as indentured slaves) and uncontrollable fertility rate in a very small archipelago. A series of savvy policies afterwards turn it into a solid upper middle income country, with higher quality of life than Botswana and still growing economy propelled by service sectors (that are made possible due to very high literacy rate).
IMF, World Bank,Bloomberg,ADB etc
1)*IMF--India is the World's 3rd and 5th largest economy by GDP
$3.535 trillion (nominal; 2022 est.)
$11.745 trillion (PPP; 2022 est.)GDP rank 5th (nominal; 2022) 3rd (PPP; 2022)GDP growth 8.9% (2021),8.2% (2022) GDP per capita $2,515 (nominal:2022) $8,358 PPP; 2022
2)*IMF 2022 -India's Per Capita has rose to--$ 2,515 dollars by Nominal GDP dollars and $ 8,256 dollars by GDP PPP, Which makes India 3rd richest in South Asia and Ban*ladesh has per capita income of $ 2,110 dollars and Poor paxtan has just $ 1550 dollars😂😂
3)*According to World Poverty Clock, India's poverty rate has decreased to just 6% and Extreme poverty rate to 1%But, Poor paxtan has a poverty rate of whopping 40% and Extreme poverty of 22% and Bangl*desh has poverty rate of 24% and Extreme poverty of 14%
4)*According to World Poverty Clock, Only 29% of population in India earn less than
$ 5.50 dollars per day, (15% in China)
But,In poor paxtan a whopping
77% of population earn less than just $ 5.50 dollars per day, And
84% of poor Bang*adeshi population earn less than just $ 5.50 dollars per day, What a poor Islamic neighbors India has
5)*IMF -Under Modi, India overtook Russia, Brazil, Itlay, France and The UK in Nominal GDP in just last 8 years and IMF predicts India will overtake Germany and Japan in next just 6 years by GDP Nominal as It is already world's 3rd largest economy by PPP GDP with $ 11.75 trillion dollars.
6)*Under Modi, India has become World's 8th largest exporter with
$ 676 billion dollars and Became
5th largest Manufacturing country in the world, And poor paxtan has exports are just exports of just a little of $26 billion dollars
7)*#WTO -India is an Industrial Power house, As India is the world's #largest manufacturer of generic Pharmaceuticals , and its pharmaceutical sector fulfills over #50% of the global demandv for vaccines It is also the WORLD'S #2ndlargest cement producer, the #2ndlargest steel producer, and the #3rdlargestelectricity producer. #4th largest Car Manufacturer in the world and #5th largest Manufacturing Country in the world
8)*In 2021 India became 4th largest Car manufacturer and Market, as
Indians bought 4 million cars and And Exported 600,000 cars to The UK, USA, Brazil, Mexico, Latin America, Africa and The Middle East.But in p*or B*ngladesh Only just 50,000 cars were sold what a poor country and only 114,000 cars were sold in poor paxtan as it is a poor country 😂😂‚And all of them are imported or half assembled in paxtan
9)*In 2021 India became 2nd largest Automobile and 4th largest Car manufacturer, As India manufactured 4.4 million carsand 18 million otger Automobiles and Exported 4 million automobiles to The UK, The US, The EU, Brazil, South Africa, Mexico, Latin America and Australia etc. But, poor paxtan imported All of its automobile needs as no one manufactures its automobiles in poor terror infested country like paxtan😂😂😂😂
10)*BLOOMBERG :India is the world's 2nd Highest receiver of Foreign Direct Investments (FDI) with $ 83.4 billion dollars, which is only after China with $149 billion dollars and No one invests in poor begging ,poor infrastructure, poor governance, Highly unsecured, Terrorist infected and poor and Unskilled Labour force country like Poor paxtan😂😂
11)*BLOOMBERG: India has world's 3rd highest number of Unicorns and Start-ups with 100+ unicorns and 70,000+ start-ups with investments of over a whopping $ 450 billion dollars only after The US and China and poor paxtan has 0 unicorns because no one invests in poor begging country
12)*Microsoft, Amazon and Google have their Largest Campuses in India in Hyderabad's Financial District. Which has become India's 2nd Silicon Valley,After Bangalore
13)*In 2021,India has become world's 4th largest Car Manufacturing country with 4.4 million cars and Exporting 800,000 cars to US, UK, Africa, Latin America,Asia,and Australia etc.With alredy Top Car companies javing manufacturing plant, Ex:TATA,Volkswagen,Skoda,Audi,
BMW,Mercedes-Benz,Porche,Citroen Renault,Kia,Mahindra,Honda,Toyota,Hyundai,Jeep,MG,Maruti Suzuki, Jaguar Land Rover(Tata),Nissan etc.
India has world's 3rd highest number of Billionaires with 232+ billionaires and 1 Million+ Millionaires only Behind the US and China and
Poor Paxtan and Ban*ladesh has 0 billionaires as the countries has only 1 industry and 0 tech, and Very poooooorrrrr
14)*Just India's Tata Group has a Market capitalisation of whopping
$ 320 billion dollars and Reliance industries has a Market capitalisation of $ 280 billion dollars, Which is more than Poor Paxtans Entire GDP. Poor beg*ing country
15)*Poor paxtan beg**ng country,
India administered Kashmir is booming with Billions dollars of Investments from Gulf and India,As India is building World's Highest Bridge, Semi-High Speed rail(Vande Bharat train), 600Km Expressway, Large Hydro power plants and A new Hydrogen Plant by Private company, And IT parks by TCS and Mahindra etc,
16)*India's Two Stock Markets BSE and NSE are 6th and 7th largest Stock markets in the world with a combined Market Capitalisation OF Whopping $ 8 trillion dollars, Which is 28 times the GDP of poor paxtan😂😂😂😂And its poor stock market has Little value of 10 billion dollars and mostly owned by Chinese companies what a poor be/ging country
****Unlike poor paxtaan Puppet,
Wikipedia -With the world's #3rdlargest milit*ry expenditure, #4th largest arm*d for*es, #5th largest economy by GDP nominal rates ($ 3.5 trillion)and #3rdlargest economy in terms of purchasing power parity
($ 11.75 trillion),[2] India is a prominent #regional power,[3] a #nu*lear power, an emerging #globalpower and a #potentialsuperpower. India assumes a growing international influence and a prominent voice in global afraid
Mauritius is a very underrated development story, especially since it's one of the only countries to develop without falling into a period of autocracy or dictatorship. I would have put Mauritius over Rwanda...
Good for them.
“A bad economy and weak governments meant that the people are a little too unhappy.”
Until a certain bald italian man siad he could Fix everything
Or a silly man with a silly mustache
@@The_whales All he did was make some jokes, sadly forgetting Germans don't have humour, so they took him seriously...
It is always a good day when hoser posts a 30 minute video ☺️
fr
🤖🤖🤖🤖
I believe the three qualities of any economically successful nation are an honest government, the rule of law, and an environment where business can operate without too much interference.
Nailed it, couldn't word it better
What about China for the first two 💀
@@steam9140 China's government did allow for free enterprise for a time, but it is an autocratic government that can shut everything down with no outside checks and balances to stop them.
@@Bolognabeef Stability is key to prosperity.
True
Thank you for adding Estonia into the list
I think adding Chile as an economic miracle because of that specific period is a huge mistake.
The Chilean Economy was a roallercoaster during his administration having growth over 5% most of the time but followed by falls over 10%
Assuming by the end of 1973 the economy of Chile was 100, by the end of 1988 (Pinochet left by early 1989 so we're not counting that since this video covers only his term), the Chilean economy would be around 152, in 15 full years he was in power, the economy grew about 2.85% in average, I don't know you guys but that doesn't sound like an economic miracle to me. Plus Chile became one of the most expensive and unequal latinamerican countries ever since.
And before you comment: "Oh those falls were because of the previous government", well that's not true, by Pinochet's first year in power the economy started to grow again, plus sanctions on Chile were lifted.
During Allende's term the economy grew 9% to fall 6.5% in the next two years (1.2% the first and 5.6% the second) and it's called the worst crash in the Chilean Economy ever, ignoring that in 1975 there was a wopping 12.9% fall (Almost double than the fall during Allende's term which was really bad), taking two years to recover to it's pre crash level, just to fall again in 1982 followed by another fall in 1983 of 13.6% and 2.8% respectively, the Chilean Economy took four years to recover from that second big crash.
Just by this we can see that, during 1974 and 1988, years that Chile was 100% rulled under Pinochet, of those 15 full years, 3 years were of a falling economy spread across his term, 6 were for economic recovery with a little bit of growth and the end of the last year of their respective bounce, only 6 years were actual growth (of which 2 of them were 2% or under), only 4 years of those 6 years were considered of high economic growth not product of a bouncing economy.
Just saying, México grew about 20% more than the Chilean economy during Pinochet's era, even when México entered a dark age, during 1982 and 1988 where México grew a wopping 0.7% during those 7 years, yes, not even 1% in 7 years, that's less than 0.1% every year in average, even with that, even México performed better.
yeah this video had a bit of a neo liberal economic bias
But pinochet liked burgars!!!!!!
The economic miracle and the situation chile was in from 1990 - 2012 aprox, in which it was the most rapidly growing country in latin america and having the highest gdp per capita in the region, was the cause of pinochets phylosophy and the economic measures taken by his administration.
the crash probably happened due to the coup and sanctions from the us and its allies
A Chilean economics student here. Actually our called “economic miracle” is mostly referred as the growth that occurred after Pinochet dictatorship until a couple years ago. The time Pinochet was ruling most of the population suffered even more when compared to Allende’s administration.
1 thing to note is that Norway is not the only country with oil and gdp per capita. Canada is a country similar to Norway. Good gdp, lots of oil and low population cause of ruff terrain.
But Canada wasn’t ever really that poor
I don't think he meant just GDP per capita (which is something a lot of people do) but also wealth equality, high median incomes, HDI etc. Countries like Qatar and Saudi Arabia has higher GDP per capita than Canada but their population is not as prosperous.
Damn i hate that my country keeps being referd similary to Canada, we are not so much the same
But then Canada lets the Norwegian government (Equinor) exploit its own oil resources instead of exploiting it itself
@@aSuperPi. Norway wasn't really that poor either
In PPP terms, which are all that matter in the cold war since trade between eastern and western blocs was not that common, NK was richer than RoK until the 70s. And healthier until the 90s with longer life expectancy.
The biggest factor that kills NKs economic performance is lack of global trade. That is why it lost almost all of those gains in the 90s with the fall of the USSR, and went from ~$3000/year GDP/capita to ~$500. It has still not recovered, with around ~$2000/year and any growth that does happen likely to be undone in their next trade crisis, having only limited and sporadic trade with Russia and China, and some trade with poor and remote countries that don't care about the sanctions.
I would say North Korea might even been on this list if they could just wave a magic wand and implement free trade with the west. Like, extrapolate that $3000/year GDP/capita out 32 years? That's gonna be at least into the five digit range which puts it in the same category as China if not necessarily South Korea.
"NK was richer than RoK until the 70s. And healthier until the 90s with longer life expectancy."
You're not kidding, they had a devastating famine in the 90s that killed anywhere between 240,000 to 3.5 million people.
The Botswana story is glorious and a result of genius forethought and effective policy. The peaceful transfer of power from former colonial administrators to the native population by taking time to educate the local populace before letting the old guard retire with pensions and the natives running things takes far more restraint than most people are willing to give. That ended up paying huge dividends to the country, turning it into one of the jewels of Africa. Also the rightful native king of the land choosing to switch the country to a more democratic republican system willingly gives me George Washington vibes.
you should make a full vid on the baltic countries or Estonia or former soviet countries or whatever!! love ur vids
As a lithuanian im happy for my estonian brothers 🥲
It’s channels like these that keep me interested in history. These are the kind of people we need as teachers and professors
Finland also had interesting economic history to industrialize after WW2 without marshal aid from US while paying war reparations to Soviet Union and not being part of western institutions during cold war
The power of Nokia and Perkele
@@lontongstroong And sisu, my parents tell me of those times in the late 40's and early 50's when my great grandparents and grandparents lived from hand to mouth while paying the reparations desperatly.
Thankfully it paid out in the end
Indeed, such a shame that Oman isn't like Finland smh........
@@shzarmai I reckon Omanis are too content with their oil deposits.
And if there is a yardstick to compare with it, it should be Norway instead of Finland - small population that are relatively homogenous and extremely high natural resource density per capita. Finland and Oman have barely anything in common that is.
I miss Nokia.
Libya under Ghaddafi was another country that did oil nationalization well, damn well when directly compared to other states of the region, having the lowest social inequality and biggest growth of any African country in many years despite Western sactions targeted at it
Wasn’t the richer country of africa or richer per capita or something before lybia invasion ?
it dudnt have the biggest growth thats not true. and it was never even relatively wealthy, in fact it was and still is very poor compared to other arab countries
it was still very poor, and badly managed state.
But Libya was a dictatorship.
@@DBV-iu1qw 😂😂
The story of Botswana is really interesting, because the country could have just sat on all the money they were making, but instead put it into education, so there wouldn’t be a crisis should anything happen to their mining industry
I think the diamond economies is going to survive more longer than the oil economies since there isn’t any talks that diamonds is bad but with oil people people treat it as evil. Car oil will probably end in 2050 for Europe
There are now synthetic diamonds. They could hurt the diamond industry.
the way you talk with an excited/proud tone is one of my fav parts of this channel
thanks for another banger my guy
Amazing video bro
Plzzzz make a video on South Korea!!! Love the content btw , good luck !!
Amazing Channel, Amazing Vids=Hoser!
You deserve much more subscriber's, your vids are super entertaining
Mexico also had a very interesting Economic Miracle in the 50s - 70s
They’re right next to the United States. The parts close to the border are pretty much first world. Yet they hover over 10k per capita. Mexico doesn’t deserve to be on the list. They should be developed. Yet its become corrupt and cartel ridden in many parts. Anyway i still expect them to become a developed country this century. US is lucky to have them as a neighbour
@@rohanindra6401 I mean, as a mexican I'll be the first one to admit Mexico is not on a good spot rn, but to say Mexico is not developed is kinda wrong.
Now, it's not a first world country either, the government is a joke and it's the main reason that keep Mexico from being as good as it could be
Like Brazil did, but I think it wasn't sustained growth
@@alank.c.3822Federal Government and the cartels, really.
Would you consider also making a similar vid on Spain, and the other former Eastern Bloc states?
I love the visuals in these videos!
I was expecting Poland to be on the list, their growth is impressive aswell.
The entire Soviet sphere after the Soviets is impressive. I think out of all of them, Estonia represents them the best.
Whole Eastern Bloc, former Warsaw Pact group of countries' economic growth since Soviet dissolution has been impressive. Especially when juxtaposed with the rest of Europe's economic stagnation.
It is not actually, Poland is basically only recovering.
Besides, Polish (and other Eastern European growth) won't last because these are childless, stunted societies.
@@gustavoritter7321 If only the Poles would get rid of the concordat, and kick the Church out, it would be richer than Romania, Slovakia, Czechia, and all the ex-Yugoslav states combined
South Korea's story of economic advance is just second to none, its not comparable to any of those at all
More impressed by China 🇨🇳 to be honest
@@habibmagala970 China has natural resources and was a always a huge economy and a superpower, South Korea never had any of these
@@user-dz4eb5rb3g China achieved the fastest economic growth in human history the only one country to compare is Japan.
@@theburden9920 yes but China was always a superpower South Korea never was they don’t even have resources North Korea has those
True, the only country that went from dirt poor after WWII to a developed economy in the whole world.
Good video!
dont even have to watch before knowing that its gonna be a banger.
Well explained
Yo H0ser! I also make country/geography type videos and wanted to let you know that I really like your content!
Yoooo
yoo i watch your content, good stuff
@@Ventbrise yeah same, mans sick
Hearing Säkkijärven Polkka as Estonia's background music feels a bit cursed as a Finn.
Bruh &lumen
@@user-tn4vk9uj5d bruh. Finnish derives from ancient Estonian?
@@Commenter495 or vice versa.
@Zhong Xina You have done nothing wrong.
I can't wait for the next 10 am upload :)
These are great videos
As an estonian I'm really proud😎😎💪💪🇪🇪🇪🇪🇪🇪
The thing about GDP is that it doesn't tell you much about the quality of life of the people. Ireland has experienced insane GDP growth, but because so little of it is taxed, it has barely affected the lives of the people at all. It's just a number on a graph that means nothing to anyone.
Wouldn't say that. GDP per capita starts to matter less as a tool of comparison when you get to higher income quintiles, but it serves as a pretty darn good indicator otherwise. France is a better country to live in than Portugal, in part because it's richer. Most people will be able to tell the difference between say Kenya and Botswana, and Mexico and Canada. It's very hard to provide good social services if you're not a wealthy country. Sure with wealthier countries,it does lose some of it's utility, due to diminishing value of money the more a country has. United States is 20ish% richer than Westerm Europe, but lags behind it in some QoL stats. But generally it does correlate with quality of life, with the exception of the most wealthy countries in the world.
@@trendymadness5159 Wealth inequality is also important you need to look at the great picture. Legatum posperity index is for now the best way to judge a nation in living conditions accoriding my current knownledge.
@@trendymadness5159 GDP per capita is basically the best single metric to use, but if you want a better picture you use multiple metrics like median income, wealth equality, poverty rates as well as other metrics like HDI or QoL to determine how well the population lives. And obviously if you are rich it doesn't really matter what country you live in because every nation provides some luxury.
That's not true. You can just google ireland medium income to see that it indeed increased almost two fold.
Learned a lot! Thanks!
Extremely well done!
There are more countries with economic miracles, or just countries who bounced from weak to strong economies, I would love a part two, even if it’s only 5 countries.
The Chilean economy miracle happened after Pinochet's dictatorship, mostly during the Patricio Aylwin & Eduardo Frei's governments.
Funnily enough Alwin's government raised social spending and financing of public institutions. He also strengthened labour laws. Which is totally the opposite of what the boys from Chicago tried to achieve!
Because they kept the policies though
@@MA-go7ee There were very few "policies" under Pinochet, most of all privatizations of state companies. The "miracle" truly began when Aylwin, Frei and Lagos stabilized the economy, opened it to free trade & poverty declined, when actual reforms were enacted. None of those things happened during the dictatorship.
Pinochet reluctantly (after two consecutive recessions) agreed to an autonomous Central Bank, probably the only good-no-caveats economic policy under the regime, as it has helped Chile better endure recessions.
Other policies, like the privatization of pension funds have yielded poor results.
oh crap a sponsorship I'm actually interested in for once!
1:24 Are we not going to talk about that gorgeous LEGO setup?
I really liked your video, and I'm surprised you didn't pot Bangladesh in. If you don't have any ideas for a new episode do a part 2
❤️
bangladesh is still not a economic miracle. all south asian countries like india,bangladesh are one of the fastest growing in the world but still haven't experienced the economic miracle because their gdp per capita is still less than 3000 usd. but bangladesh and india are going to experience economic miracle in the future.
@@pratyushdash7573 Maldives and Bhutan are good
@@auguaauaguga6517 yeah but here i am talking about big countries who are developing like india and bangladesh
@@pratyushdash7573i think Israel is a good contestant for part 2. In the last 70 to 80 years Israel gone from almost starving to really wealthy. it is a economic miracle
@@user-br6dc1yq4k when someone's foster father is the USA then yeah it's a miracle
I’m surprised you didn’t mention how in 2015, Ireland’s GDP grew by 25%, which you just brush past and say that after 2008 Financial Crisis, Ireland was a very stabilised country economically compared to the previous 2 decades, which is quite inaccurate.
Its a tax haven so that money isn't generated there anyway, nor can they access that wealth since their entire existence is to hide the profits of Google, microsoft, Apple etc. They are a lot poorer than their GDP numbers would lead you to believe.
@@tomkav345 of course, but I'm specifically talking about GDP Growth Rate, which even if the money isn't remaining in Ireland at all, still makes Hoser's statement inaccurate as he said after the 2008 Financial Crisis Ireland had much slower GDP Growth rates, even though in 2015 the economy "grew" by 25%, an artificial growth rate or not, it still counts.
there are a lot of innacuracies in this video, most annoying is pretending like north and south korea are in the same situation except for economic policy... then it cuts to an ad about media bias lmao
@@shway1 North Korea actually had a better starting position. It was more industrialised and developed than the South, and had the trade routes to the rest of Asia.
@@jgw9990 when one side is allied with and in the sphere of influence of the rich industrialized world and the other is completely sanctioned and in the sphere of influence of a poorer regional power, that's not a "natural experiment" as it is often framed, that's all I'm saying. also south korea isn't the great example of free market capitalism some people think. it started out as a dictatorship with strong economic planning and is now a democracy with a huge govt-created monopoly problem, which ended up with their president going to prison and the heir to a quarter of south korea's gdp being pardoned by the next one. just to be super clear I'm obviously not saying the north is better it's much worse, but really bugs me when people make the "natural experiment" claim.
This is a really cool topic for a video
tsym for the advise11!!1!
Spain probably deserves a spot too.
At least a mention.
From a agricultural base country, destroyed by the civil war in the 30's, disconected from the world until 1952 for the connections Franco have with Hitler.
To the 9 or 10th world economy in the early 70's. Only being beaten by growth of GDP by Japan in the 60's.
I think Spain deserves by their own a spot.
In fact, that period, (1959-1974) its called the spanish economic miracle.
Good video overall :))
I love how the background music for South Korea is Gangnam Style lmao. Good choice of music, and kinda fits in well with the graphics in the segment.,
Great video 👍 and next one what about Nigeria!?
This has a very positive air to watch.
Pretty good lessons but could have included the biggest export items from SK which are now Kpop and Kdramas! K weapons are also getting popular as the top 5 in the world since the Russo Ukraine war!
The problem in a lot of those examples is that some of those are extremely inequal nations and skew the datas (botswana,rwanda,ireland) yes the nation got richer but the average citizen did not.
Like the average life expectancy in botswana is 69 years and it’s lower than countries like morocco or albania
wait, ireland?
I disagree on Rwanda so many examples of countries not recovering from genocide and war. they did and then some.
@@korkorkorkorkor the economic growth mainly benefited the government and not the average person, especially recently
@@GTM9164 the average Rwandan is poorer than both his neighbors and his parents
@@korkorkorkorkor most is in the hands of corporations,
15:00 That Chile segment was hilarious, them boys rearranging the market
very cool video
This video is oversimplifying too much. Its boiling everything down to "freemarket", where a lot of other factors contributed way more (and in vietnams case its not even a free market lol). Also the taxhaven Ireland is causing a lot of problems in the EU and obviously very fragile
> Vietnam and China shifted from strict central planning to what Lenin started in 1920s as NEP
> h0ser: they got rid of communism and embraced free market!
Poland in 90-2020 had second biggest growth in the world, second only to China.
30 years of growth and zero recession.
I've seen you use Finnish music / references in things concerning Estonia, is this deliberate or am I missing something?
For example, "Säkkijärven polkka" here. I think Loituma was used in elsewhere as well.
I have a question. On the pole about what countries that start with S Somalia got the most votes so I’m not trying to be rude but are you going to be able to make it anytime soon or do you have a lot more personal stuff besides TH-cam?
I think Israel should be up there too. Despite being established less than 80 years ago, a small land area and a small but yet heavily divided population, literally zero resources and being at war with half of its neighbors it still managed to out perform every other Middle Eastern country all without a single drop of oil.
Today Israel is a leading country in many different industries like space, technology, weaponry and many others, it even has its own nuclear program and nuclear weapons, not a really positive feat but still an impressive one. It also has some of the highest ranked universities on earth like the Technion and the Hebrew university of Jerusalem. Now Israel has a gdp per capita of 51,000 usd. One of the highest among all countries. And a side note, 13 Israelis have received the noble price since 1966.
Israel? Never heard of it
@@confucius2215Denying its existence doesn’t make at any less real
I mean its impressive but the Jews that migrated their were very well educated and very connected with the elite. It would be more suprising if Israel failed to make their country prosperous with all the highly connected and skilled Jews in the country.
The Jews have never been short of money and wisdom
Interesting how these replies are hyperfocusing on the fact that the country is Jewish. You never see mfs talking about majority catholic countries like this
You dont appear to have read your own data for Chile.
Pinochet's dictatorship fell in 1990 having ruled since 1973.
Your graph shows **clearly** that Chile was on par with South America for that entire period. Only after the dictatorship fell and they returned to democracy did Chile begin its remarkable growth.
Isn't the point that his capitalist policies, (excluding the government intervention that made the 1982 crisis worse) paved the way for the Chilean economic miracle?
@@jonasastrom7422 You can make that argument. But its spurious and correlation is not causation. Uruguay never had a fascist dictatorship to achieve the same outcome. Even the badly run SA countries made significant progress during the same period.
@@dairallan Fascism? Where the hell did that come from?
@@jonasastrom7422 Where did it come from? Well the CIA wanted to replace the democratically elected leader of Chile. They identified a fascist named Pinochet and decided that was their man so they installed him into power. I would thought you'd know this before commenting on the thread.
@@dairallan No I meant the word fascist, he wasn't in any way or form a fascist. Also Allende's KGB funded campaign gained him a third of the vote, not the majority, so hardly very democratic. And the CIA had very little to no influence on the whole affair, the military was intent on couping the government after the disaster Allende created, all they wanted was "approval" from Nixon, which they got.
i like how he uses animals as a country idk why
it's more interesting than if they were just circles.
I think it's their national animals but idk
@@crashclash2866 Yeah it is
you should do one on economic disasters, there is a lot if not more to learn from failures than success.
I’m not sure if this is something that you would be willing to do but “what if the Mississippi River was cargo ship navigable” how would this change the US, possible impacts of its implementation, and what it would take to do so.
It's just amazing that how only one right leader in power can change whole countries future.
I like this video, there is no miracle, but only hard working can work.
Good video
These are the countries that experience actual economic miracle
China- 1980-2020
Japan- 1950-1990
South Korea- 1980-2010
Germany- 1950-1980
Bro botswana and Rwanda are honestly more "miracle" than all these 4
@@hambster9759 honestly seeing the exponential growth and the work of lifting millions upon millions of chinese out of poverty is far more impressive
Japan and Germany are very impressive to me !
Mega
Southkorea 1960-2000
I think when you were talking about estonia you shouldve said all baltic countries, cause gdp (PPP) is actualy higher in Lithuania and all of the baltic states basicly went though the same thing as estonia
I missed this channel
Great video, but how is Singapore not here??????????
Do a 10 worst geography
Second this
Just a list of land locked African countries. Yes Ethiopia has bad geography I have no idea why hosar thinks otherwise.
A miracle has to be broader than “significant improvement”. Theres so many countries that fit that bill like Bangladesh, India, Indonesia. Yet these are not miracles. Id say they must’ve done a creative strategy and reached first world or high income status which Vietnam, Rwanda etc haven’t. So Japan which is the first non Western nation to industrialise, Singapore, China with its SEZ concept and Botswana demonstrating development is possible in Africa and avoiding resource curse deserve to be on that list. Not Ireland and Vietnam (which is definitely impressive and something im very proud of them for considering the war they suffered)
I mean bangladesh went down the drain anyways
I do agree though
None of the asian countries could compete with Japan due to being destroyed by it in WW2
Muy buen video
I really hope Botswana and Rwanda keep growing
China "Miracle" was more like having a not rebellious country and a government to semi point in a direction. It felt more like a thing that was always gonna happen. Am not belittling china but Ireland becoming rich seems more like a Miracle to me.
Its misleading to say that the free market and liberalisation played an immense role in Chinese boom. Post Mao Chinese econony was still centrally planned. It allowed for the *existence* of liberalisation policies but those were still subservient to the state.
The creation of a private and finantial market to attract foreign investment was literally THE reason the chinese economy took off, this cannot be understated. Without it China would still be poor. How on Earth this doesnt qualify as an "immense role"?
I love how the thumbnail implies that simply switching the satellite image to night means an economic miracle
Good vid
I do think unlike south africa botswana is very stable economically socially and politically would be interesting to see how they develop maybe together with south africa can form a regional powerhouse to create a south african market similar to cono sur so they can attract more investers companies and earn more income as well
Botswana and south Africa cannot developed together south Africa is completely screwed
Botswana was and is fortunate not have any Marxists run the show unlike its neighbors Zambia, Zimbabwe, Angola and South Africa.
@@jackholman5008I live here boet. Western cape is like a different world now under the DA. We might even get our own provincial electricity company which would be awesome
@@panadocoughsyrup no it's not boy,it can never be independent of the rest of the country stop dreaming
@@jackholman5008 Never said it would be independent, I’m a fence sitter on the WC independence thing. Maybe consider the idea that other people have done a significant amount of research and have come to logical conclusions of their own that might disagree with yours :)
Could you talk about the Mexican Miracle after WW2 pleeease??
If you make a part 2 ad Singapore
Are there more Europe or North America vids
15:08 just realized where boris yeltsin's shock therapy probably came from
it's all start with Good Governance and Good Leadership.
Hey I remember you made a video on Botswana a couple of weeks ago but I can’t seem to find it. What happened?
That wasn't me lol never made a video on Botswana
@@h0ser Damn I could’ve sworn that was how I found your channel. Weird, must’ve imagined it
You should make a video like "10 countries with economic tragedies"
gonna be a 4 hour video
For most of the history China has been the richest country. The last 150 years DO matter but ...
They also slaughtered tens of millions of their own people in some of the most deadliest ancient wars. The last 150 years do matter but….
100 years of economic development in an industrial country is equivalent to 1000 years in an agricultural country，Just like a small country like Japan and Britain beats a giant China
7:21
**In continental Africa*
Why do you have a image of Melbourne Australia when talking about Ireland 6:34
What website is the diagram on the right from please? @ 3:18
It's not a website, it's a economy treemap used to show the exports of a country. There's one for basically every independent nation. Some can be even interacted with in places like statista
Still waiting for Turkmenistan to become a global superpower. Miracle on the hell hole let's go 🇹🇲 💪 🔥
Yeaaaaaaaaa. Let’s do some donuts
Pretty sure the government is rich cause of gas
Turkmenistan finds oil and suddenly the US goes on a campaign about liberating turkmenistan from their oppressive dictatorship lmao
@@axlr8deathpls294 aren’t they already rich do to gas and friendly with the us
@@user-dz4eb5rb3g turkmenistan is called "the north korea of central asia" since it's currently a part of a brutal dictatorship.
Chile is poorer than Uruguay, and just a couple of years ago it was also poorer than Argentina (to be fair the 3 countries shared a similar economical situation, similar GDPs per capita, HDI, etc.) And argentina and Uruguay never had some kind of economic miracle that lead them to that level of development. The truth is that the 3 countries have terrible economies, that are heavily dependent in exporting natural resources. Argentina is the most industrialized out of them all, but still it has a terrible industry that’s heavily protected and would scramble to pieces the minute that changes. While Chile’s macroeconomics looked good, inequality was (and is) rampant, people were still poor, didn’t have access to free or even affordable healthcare or education. And last but not least, corruption is a huge problem in all 3 countries (and all of latin america too)
Uruguay is actually less corrupt than a number of high-income countries. But I agree with the rest of the argument, it's waaaaayyyyy too unambitious relative to its potentials. Given its geographical location and institution quality, it could've easily positioned itself as Singapore of Latin America and branches beyond meat and grain exports.
>Chile is poorer than Uruguay,
you're deadass wrong there buddy lmao
@@biggestnibba nah he isn't
@@JoacoG11 then sort by gdp or GDP per Capita adjusted to inflation and inequality, chile still higher. the only reason Uruguay has been doing so fine in statistics it's because it's a miniscule country, barely bigger than a medium city in population, it's really easy to have good statistics when your country it's barely over 3 million lmao
You clearly have no idea of Chinese economy.. watch less media in your country.. or people will just think you are dumb.. you are not.. you just don't know much.
Im irish and im glad you included our country 🇮🇪🇮🇪💚💚
You missed the oportunity to play What Does The Foxy Say in Norway part lol