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> Arguably because of state intervention in the economy.

More than that. It's the closest thing we have to a successful economic experiment replicated multiple times in real life.

It's the Japanese model. Meiji Japan, post-WW2 Japan. South Korea, Taiwan, Singapore, Hong Kong, China more or less followed the same pattern.

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On the topic of economic development, David Landes is worth reading, both the Unbound Prometheus and The Wealth and Poverty of Nations provide a solid understanding of the reasons behind the development of Western Europe over the past 500 years.

The 5 Dragons (Taiwan, South Korea, HK, Singapore, Japan) followed pretty much the same recipes that made Britain, France, Germany, Switzerland industrial powerhouses in their days.

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