How did Korea become so rich so fast?

[Garaad diinle]

It's relatively easy for a third world country to grow very fast very quicly with high growth rate than a developed country. Innovation for growth and globalization that have been in development for centuries is readily available for every country in the world.

Somalia today is in a good place to grow quickly. Somalia has a young growing population with the seconde highest growth rate in the world in terms of birth rate. This large young population which is a cheap labour situated on the gulf of adan can attract international companies.

If somalia would invest in education advanced sophisticated companies might even compete to set shop for this well educated cheap labour which would in turn increase the wealth of the country. The overall urban population of somalia percentage wise is very low. urbanization will further increase the gdp of the country. In other world with security education and sound economic policy somalia can grow just like bangladesh or even south korea.

A video about how countries can grow fast from a low point today.

 

[Abdisamad]

South Korea’s Economic Development, 1948–1996

"South Korea’s Economic Development, 1948–1996" published on by Oxford University Press.

oxfordre.com

"Under the military government of Park Chung Hee (Pak Chǒng-hǔi), which came to power in 1961, the state gave priority to economic development, focusing on a combination of state planning and private entrepreneurship. Possessing few natural resources, it depended on a low wage, educated, and disciplined labor force to produce goods for exports. As wages rose, economic development shifted from labor to capital-intensive industries. Focusing initially on textiles and footwear, South Korean manufacturing moved into steel, heavy equipment, ships, and petrochemicals in the 1970s, and electronics and automobiles in the 1980s."

It seems the reaon they got rich so fast is because the Koreans were a hard working people, they didn't have much natural resources but still industrialized their society. Also the government was ruled by a military government until they made a shift to democracy in the 1990s because by then they were a developed nation.

Unfortunately Somalis look down on physical labor, so maybe this is just a pipe dream.

Lool.. Somali and being a disciplined hard worker will happen or work, generally Somalis look down on hard work/labor.

 

[Abdisamad]

Typically advanced countries tend to have lower birth rates than developing ones. It's the cost of being an advanced educated society.

People from poorer nations tend to produce more kids, because they see this as future investment.

 

[repo]

The making education free part definitely makes sense, but how did putting all that money into the hands of a few rich individuals make the country richer?

For example Samsung was as large then as it is today in proportion to the South Korean economy. So his government funded them because they were well run companies that could kickstart new industries in manufacturing, shipbuilding, high tech. So once they were funded, they started taking over smaller existing operations in new industries, turned them around and created a massive amount of jobs.

 

[repo]

It's like the Somali government taking aid money and giving it to Hormuud so it can invest in new industries and create jobs. Hormuud has a track record of being a well run company that invests and creates jobs.

 

[hinters]

It's like the Somali government taking aid money and giving it to Hormuud so it can invest in new industries and create jobs. Hormuud has a track record of being a well run company that invests and creates jobs.

Interesting, I thought they just gave money to random families the way you said it lmao.

That's a smart plan, why doesn't the Somali government already do this? We gets tons of aid.

 

[Psychologist]

This video explains it all


Somalis need to invest on real shit, like factories, and so many other shit. there are many unemployed people in somalia who would do anything to make a dollar. Don't exploit them but invest in them and their family.

we could go on the same path as south korea but the path has so many cons and capitalism shouldn't be trusted.

 

[hinters]

This video explains it all


Somalis need to invest on real shit, like factories, and so many other shit. there are many unemployed people in somalia who would do anything to make a dollar. Don't exploit them but invest in them and their family.

we could go on the same path as south korea but the path has so many cons and capitalism shouldn't be trusted.

Walaal waan ku fahmay adiga hantiwadaagnimo inaad ku aamisantahay, but why should capitalism not be trusted? Isn't Capitalism what lifted all of the current developed countries out of their pastorialist and poverty stricken lifestyles?

 

[repo]

Interesting, I thought they just gave money to random families the way you said it lmao.

That's a smart plan, why doesn't the Somali government already do this? We gets tons of aid.

Somalia is a weak federal tribal country whereas South Korea was a capitalist dictatorship with central planning. The aid back then was direct support from the US to South Korea, not NGO economy like Somalia.

 

[JaredAbdullahiKushner2000]

Hormuud is the only industrial company in Somalia. They in the banking, telecommunications and construction industry. Benefitting millions of Somalis across the south. I hope more companies emerges and Hormuud doesnt become a monopoly.

 

[rep]

It's possible but we would need to run Somalia like a conglomerate i just don't think today's politicians have the capability to do that. Realistically how many in the somali parliament could complete high school in the west ? How many would refuse a bribe ?

 

[Psychologist]

Walaal waan ku fahmay adiga hantiwadaagnimo inaad ku aamisantahay, but why should capitalism not be trusted? Isn't Capitalism what lifted all of the current developed countries out of their pastorialist and poverty stricken lifestyles?

No, capitalism lifted the rich and not the poor. you can't trust a system that takes profit over human lives.

for south korea, the place is controlled by companies, and pass the law. Which explains why there is a wealth inequality situation and how families are in debt, imagine having a whole family in debt, the son, the daughter, the mother, and the father.

Here a video that explains the situation in south korea

japan has similar as them and has similar problem.

An example was when the covid happened and how the rich got richer and the poor got poorer, and the rich people were complaining about the stimulus check given to the people.

Elon was complaining about it while he was getting subsides from the government, while there is high homelessness around all over America. he is the same man that got subsides from the city for his company Boring while that city has inequality problems. he didn't even completed the road or whatever shit he was planning on.

Capitalism is the reason why many American would never own a house, and would never be able to be financially free. Also every problem in America could be traced back to capitalism, weather it be the SAT test, yeah the test, or Climate change.

Capitalism is the reason the work is shithole.

 

[Arma]

Industry and service


Which we lack both, imagine instead of building a $1 milliom dollar hotel someone starts a small local factory

A plan of mine is to open a boat manufacturing company in Bosaso. Supply the fishermen of our long coast with quality vessels.

 

[Laagite]

A plan of mine is to open a boat manufacturing company in Bosaso. Supply the fishermen of our long coast with quality vessels.

Thats a money maker you'll get customers from Sanaag all the way to Mudug.

 

[hinters]

A plan of mine is to open a boat manufacturing company in Bosaso. Supply the fishermen of our long coast with quality vessels.

Traditional type boats or more modern boats? Anyways that's an interesting idea walaal if you ever start on the project let me know.

 

[NordicSomali]

This guy thinks Somalia can replicate the Korean miracle

 

[hinters]

This guy thinks Somalia can replicate the Korean miracle

Pessimists like you are what hold back progress.

 

[Omar del Sur]

The birth rates at his company speak for themselves regardless of his opinions. And we can agree to disagree but I generally think all the social stuff people talk about isn't to blame here. The economic reasons are far more important. Not enough lacag, not enough time.



Liberals largely agree with you. They don't claim "feminism" is some sort of plague that ruined women's propensity toward being mothers but, in essence, they too believe that women's "emancipation" is partly why the birth rates have plummeted. I disagree. I really think it's mostly economic. Most people around my age in the Khaleej who are middle class can barely afford their own 1 bedroom place as a single. As a couple they'd have to be cream of the crop tech and media types to afford like 2-3 rooms in a decent ish area. Where is the leeway for ilmo?

if it's economic- how come people in rich countries aren't having kids while the poorest countries have the highest fertility rates? you have countries where people are starving having top fertility rates. no, I do not believe it is all about economics.

 

[Shimbiris]

if it's economic- how come people in rich countries aren't having kids while the poorest countries have the highest fertility rates? you have countries where people are starving having top fertility rates. no, I do not believe it is all about economics.

What? Niyahow, did you not read anything I wrote?



And do you believe that because countries are "rich" most people in those countries are like the 1-10% of the world? My man, most people in America, Canada and the UK are just middle-class folks who can barely afford to own a house nowadays. Of course you'd breed like rabbits in the miyi of poor countries in comparison. You can just feed them some of your own surplus and they'll help you out with farm or pastoralist labor. They're "free" employees.

 

[Omar del Sur]

And do you believe that because countries are "rich" most people in those countries are like the 1-10% of the world? My man, most people in America, Canada and the UK are just middle-class folks who can barely afford to own a house nowadays. Of course you'd breed like rabbits in the miyi of poor countries in comparison. You can just feed them some of your own surplus and they'll help you out with farm or pastoralist labor. They're "free" employees

So... because economics... white Western women are too desperate economically to have more than one kid... while women in some of the poorest countries have five, six kids?

I umm... don't believe that.

now granted if all these people having kids are involved in agriculture or pastoralism... it does make sense the using the kids as free labor... but I don't think it's only limited to rural farm people and pastoralists... I think there's also a higher fertility rate in the urban areas