Category: 
by Obama Pundit
I don’t think I agree with the U.S./Argentina comparison as a whole. There are some cautionary tales to be learned from the Argentinian experience, but few real parallels, in my opinion.
As for Singapore, I have actually been there myself and found it to be an extraordinarily clean city, if a bit boring. But then, when you ship in thousands of Filipino maids and South Indian day laborers to do your dirty work for dollars a day, it’s understandable why things are so spic and span.
Also helps to have a semi-autocratic, though mostly-benevolent government in place that can get things done. Give Singapore our political system and chaos would quickly ensue!
Comments
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I’m not sure I understand your criticism. It is undeniable that Argentina used to be one of the world’s richest countries. It is just as undeniable that it recently went bankrupt and is a basket case due to poor governance. The comparison comes from one of the world’s leading financial journalists, not from me, by the way.
Are you denying that the quality of governance over time is important to national prosperity? That the US is going down a financially prolifigate path with seemingly reckless abandon? If you ignore the past, then, as they say, you will be destined to repeat it.
I’m not sure when, exactly, Argentina used to be one of the richest countries. I’m sure it was doing well at one point, but it certainly was never a world power. It never had the international burdens that the U.S. had (like fighting a couple World Wars and a Cold War and serving as the engine of the world economy).
I’m not completely discounting the comparison, which is why I wrote that I don’t agree with it ‘as a whole’. I certainly agree with your point about quality of governance and do not refute the overall point, but I see many other parallels throught history that might be more apt than Argentina as an example of decline, namely Rome, the British Empire and Elvis Presley.
Dear Obama Pundit,
Of course we have different obligations now. The point is, if you look back a hundred or so years, the countries looked pretty similar – two rich new world countries apparently on the rise. The immigration patterns show many at the time chose Argentina over the US for perceived greater opportunities. Now, people are emigrating, due to poor governance over a long period of years.
I concede that at this point, having reached the imperial stage, other countries may be fitter comparisons, such as Rome, in certain respects. Nevertheless, I submit that if we succumb to Argentinian government practices, we may one day again look like the country that we once so closely resembled – another new world land full of natural resources and seemingly unbound opportunities, turned bad by poor governance.
Cheers,
Eyes on Asia