Re: Heavy investment
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If you compare South Korea, Japan, Taiwan, and Hong Kong to thier neighbors China, Vietnam, and NK I think it becomes clear that less government involvement has been a pretty good thing.
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You are fighting a losing battle if you want to draw upon East Asia for support of laissez-faire.
China has achieved the most spectacular run of economic growth in modern world history with a very interventionist economy. First Japan, and subsequently South Korea and Taiwan grew very rapidly in the post-war period with economic models that were also interventionist in many key respects.
Hong Kong is interesting in that it is perhaps the only example of a late developing state in modern history that has ever substantially closed the gap with more developed countries under a laissez-faire model.
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