The Miracle Book Summary

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Book Review 2: The Miracle – Michael Schuman In slightly over a generation gap, Asia has emerged as the rising force in the Global economy. This transformation has been so magnificent that people have called it the Miracle. The book by Michael Schuman details the brave decisions and heroic self-sacrifice that made Asia's ascent possible. It covers nine countries and enquires into major historical events, this account also brings to light not only Asia's extraordinary economic rise but also how its causes might lead the developing world from poverty and lead the developed world to further prosperity. The Radio that changed the world This chapter details the Miracle in Japan. The protagonists are Akio Morita and Masaru Ibuka who went on to…show more content…
Kim Woo Choong, Chairman of the Daewoo group was in a precarious state since the company was indebted and on the brink of winding up. He approached the President for a Bailout. However the president was not willing to give that since he could not accept that Korea Inc. by Park was responsible for Daewoos rise was no longer functioning with full vigour. The catalyst for the change was the Asian Financial Crisis. Despite this the president did not sanction any loans and the company went bankrupt. It shook the Korean economy to the core. The fall of Choong however was not a signal of the end of the Asian Miracle but a transformation to a more powerfilled stage of economic…show more content…
The Tatas then asked him to lead the “Tata Consultancy Services” venture. He spent 27 years at TCS and was named “Father of India’s IT Services Industry”. Initially TCS was a data processing and software programming company. He needed more than internal jobs to turn TCS into a viable, independent business and began shopping around his staff's services to other Indian firms. Over the next several years he won a few major contracts globally, including one to computerize the giant Mumbai phonebook. The License Raj was a major hurdle for Kohli in his international expansion strategies. Red Tapism, expensive computer equipment, rising unemployment rates among other factors thwarted growth. However Kohli was still optimistic of India being a global IT Powerhouse. He drew a cross between the technology adopted in the US and potential customers for TCS services. Ramadorai was recruited in 1972 and hustled in even more US customers for outsourced
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