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Political stability

181 11 7
09.05.2021

Economic growth depends on three things: accumulation of capital, human resources and technological advancement. Capital – including foreign direct investment (FDI) – accumulates where there’s political stability. FDI brings in both skilled human resources and technology. In essence, the key driver behind economic growth is political stability. To be certain, political instability kills growth. None of this is rocket science.

Over the past 20 years, China’s per capita income has grown from $959 to $10,216. The Chinese Communist Party has been in power since 1949. Singapore’s per capita income had grown from $428 in 1960 to $11,861 by 1990. Lee Kuan Yew, Singapore’s founding and first prime minister of Singapore, remained prime minister for 31 years (1959-1990). Malaysia’s per capita income had grown from $1,769 in 1981 to $4,461 by 2003. Mahathir bin........

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