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So... even a relatively poor country can make this as an opportunity to upgrade its economy... I know that [in] the current situation [it] is... diff… - Ha-Joon Chang
" "So... even a relatively poor country can make this as an opportunity to upgrade its economy... I know that [in] the current situation [it] is... difficult to think about the future but... they really need to think... If you have been reliant on tourism heavily... If you're a island state there might be very little you can do but if you are some country... you will have to a) think about ways to make tourism safer... but b) more importantly you need to find a way to get out of tourism and start doing something else.
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About Ha-Joon Chang
(Hangul: 장하준; hanja: 張夏准; born 7 October 1963) is a South Korean institutional economist specialising in . Currently a reader in the Political Economy of Development at the University of Cambridge, Chang is the author of several widely discussed policy books, most notably Kicking Away the Ladder: Development Strategy in Historical Perspective (2002). In 2013 Prospect magazine ranked Chang as one of the top 20 World Thinkers.
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Additional quotes by Ha-Joon Chang
[I]t's up to societies... especially the citizens to demand these things, to create systems that will... not only enable the country to deal with these kind of crises in the future, but... more importantly that... can make the society more equal. ...My point is, we have to start the discussion. ...We have to talk about this. ...The people have to keep banging on, "Why did you keep all those claps [applause] during those eight weeks in the spring to the nurses but then you didn't pay them any more? ...Why is the NHS so dilapidated? We have to keep pushing... otherwise the people in power are not going to do that.
<nowiki>[</nowiki>Capitalism...] [I]t's not how it will change, but how we have to change it... because given the existing , and power, unless the ordinary citizens and the progressive people get organized and press the governments, they are not going to change things automatically. ...We've seen that after the 2008 financial crisis... so for about... 9 months they embraced Keynes... and then the bailed out banks [etc]... and they were going to reform the financial system... After 2 years it was... back to the old game... and then things got even worse because... in some countries like the US and the UK... the right-wing governments were elected, and then... in the US... Donald Trump... invalidated many of the reforms that were introduced to the financial market, after Obama, after the crisis... [I]f we don't keep fighting it's not going to change... [T]here are new opportunities and new solidarities emerging... new ways of thinking, but... how they all will gel together and translate into collective action, public policies, institutional changes, that's... up to us. Everyone.
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This means that... there is a general fall in demand, so the level of activities in every sector is lower, but this means that in relative terms, sectors that produce multiple goods are likely to expand, partly because it's easier to maintain the level of production in those sectors, but also because when people do not spend money on these face-to-face services, they will spend money on other things... There's already a sign that the demand for goods... is rising, so... there will be a shift from services to manufacturing and agriculture in the coming years.
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