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.

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.

Economic miracles every developing country's dream

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.

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.

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

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

“A bad economy and weak governments meant that the people are a little too unhappy.”

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.

It is always a good day when hoser posts a 30 minute video ☺️

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).

Thank you for adding Estonia into the list

I love how the thumbnail implies that simply switching the satellite image to night means an economic miracle

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

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