Charlie Munger on Lee Kuan Yew and Singapore's Success | Daily Journal 2017 【C:C.M Ep.263】
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- Опубликовано: 28 сен 2024
- In this video, Charlie Munger, the vice-chairman of Berkshire Hathaway, shares his thoughts on the economic miracle of Singapore under Lee Kuan Yew's leadership and how it influenced China's success. He also compares India's situation, with a prime minister who wants to create a similar change, but faces challenges such as the caste system, overpopulation, and corruption. Munger believes that India has taken the worst aspects of democracy and that it will not be easy for them to follow Lee Kuan Yew's example.
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Charlie Munger on Lee Kuan Yew and Singapore's Success | Daily Journal 2017 【C:C.M Ep.263】
I am Indian and he is spot on. I am just amazed he knows about Indian system in its subtleties.
Ajit Jain, one of Berkshire Hathaway's directors is an Indian. He is a quite and humble man, but very smart and quick to take actions. He was scouted by Buffet himself and became one of two candidates to be Buffet's successor.
@@tiararoxeanne1318I think it is already settled that Greg Abel will become WB’s successor. However, you may be right that CM received some insights into India from AJ (besides Mohnish Pabrai, who also was a close friend of CM; and there may have been others, as well)…😉
@@maweanBoth of Greg and Ajit will lead Berkshire. Greg will be in Operations while Ajit will manage the Insurance side of BH.
They create the system
I lived and worked in Singapore some years ago and what Mr. Lee KY did was amazing - recently visited Singapore and it’s a amazing city -they just seem to do everything right! Happy memories of living there…
I was born in Singapore. If I was born anywhere else in SEA my fate would have been very different…
legit username
The success of the late Lee Kuan Yew was undebatable. When Singapore was expelled from Malaysia in 1965, it was almost undeveloped without natural resources plus with tons of social and economical issues. Malaysian government was expecting a total failure in Singapore after leaving Malaysia.
But when the going gets tough only the tough gets going. What the late Lee Kuan Yew did was simply remarkable. He turned the table around. Making Singapore the most developed country in South East Asia outshone Malaysia in all aspects particularly in economy.
My point is supposing the late Lee was appointed or elected as the prime minister of Malaysia. Will he be able to achieve the same success as he managed Singapore?
My guess is never. Because no matter how good the couch is to lead a football team. As long as the players are rotten and broken in every aspects. Don't expect success but the opposite of the outcome. Everything happens in Malaysia tells a lot about why the country will never progress. It's completely corrupt in every governmental level. Everything in this country is dysfunctional and broken.
The late Lee Kuan Yew has made the Chinese worldwide proud of him. There isn't a good system to govern a country as long as the leader him/herself is heavily enjoy all sorts of corruptions and be proud of it. The late Lee Kuan Yew strictly prohibited corruptions right off the bat. He knew what corruptions could do to destroy everything.
However this isn't the case in it's neighbor country. Corruptions are treated as a norm. As long as people are on the same side with similar skin colour including faith.
For more than 60 years after independence. The Malays are still the racial majority dominating 69% of total population. Follow by 23% of Chinese which is the main contribution to the entire economy of the country. Can somebody tell us what went wrong? The country has been governed by Malay politicians since independence. What was the failure of Malaysia as compared to Singapore which started with nothing from scratch but managed to outshine the former?
@@infiniteandunlimitedabundance Corruption, bird-brain leaders & jealousy are the main reasons.
@@infiniteandunlimitedabundance Muhds are naturally more inclined to lepak than to strive on for greatness. Not saying everyone, but majority. Their toxic mindset also; meaning, we tell them what's wrong and what can be improved, they tell you to F-Off pridefully.
Lee Kuan Yew is a legend and on one can comes near his shadow !, He is a great man !
Even a strong man like LKY had his weak moments. The separation in 1965 and the announcement by the British military to pull out of Singapore in 1966 left LKY admitting that he was very worried for Singapore survival. This man love his country. He got to work with his cabinet and rest is history.
i feel like for a country that wants to move from a 3rd world country to a 1st world country, you need an authoritative government that is very patriotic and wants the best for his/her country and is able to make swift, decisive and good decisions that propels the country forward. After they get the country to a more prosperous position, then they can move towards a more democratic and capitalistic society
the reason why Singapore and the PRC succeed is the single minded purpose to succeed and survive.
You need leaders who are willing and brave to take draconian measure to steer the right path
@@garytan9904 yes but that being said, the switch to becoming a democratic country must also be at the right time. If you remain too long in an autocratic leadership, you will start regressing. Singapore is doing pretty well with the switch but for the PRC, I feel like they are regressing with XI's leadership.
You are 100% spot on. You need patriotism, autocracy to get things done and get rid of corruption then democracy will come after
@@Syn741There's at least 600 million Chinese still struggling, although they were lifted out of abject poverty recently. China today still need a firm hand (authoritarian) as evidenced by examples of how Jack Ma was reigned in when he morphed into the typical pure capitalist obsessed with money. Another example is how the Chinese Govt deliberately and gradually burst the overheated property market. Or how it stopped the crazed private tuition mania that overtook the whole country, or how it dealt with Covid with its decisive lock downs, although there are valid criticism the last bout was carried on too long. But once it sees the problem, it immediately change course, no dilly dally or allowing a thousand protesting voices sabotaging it into a stalemate.
And even later on when China has reached a certain level of development that calls for more 'Democracy', it won't be the kind of so called democracy we see in the West
@@Syn741 nothing wrong with CCP, they don't want to go democratic way & that's OK. As long as govt. doesn't meddle with my daily lives & civil liberties are uphold, I don't mind type of govt.
Well put, I could not have agreed a better way to put forward thoughts about India. It’s difficult for my other fellow Indians to take this criticism but this is the true reality and identity of India.
Indeed, the worst aspect of democracy killed progress in many countries. China and India, both a big but poor country started on the same footing about 70 years ago and see the big differences now between their GDP, their infrastructure development and eradication of poverty.
Well put. Africans are poor because they spend money on elections instead of industrial heartlands and infrastructure
but India have american style FREEDOM and DEMOCRACY !
@@johnsmith-cw3wo not really in usa voter choose between 2 parties & winning party will rule whole country at once while in india there is no restriction in parties participating & different states can be ruled by different political parties at once while most winning party will become central govt but state govt can still be different
@johnsmith-cw3wo who cares about voting and free speech when people are poor. I would rather have nice house and money first . Talk about democracy after.
@@bl5608 India have sedition law; so if politician doesn't like your speech, you lost your freedom.
I'm an Indian and every word he said is true... But i also know for a fact that india is one good governance away from being one of the top league of nations... India is bound to flourish due to its diversity and consumtion power.... But the chains we forged are slowing us down... It's high time... India should be a 2 party country... Any illiterate or criminal should not be able to raise a party and do politics....
Absolutely right about India. By any measure, it’s supposed to be second or third largest economy with its vast resources and valuable local talents BUT it doesn’t have the brains for greatness. Falling at the feet of its colonial master (GBritain) and new master (US) in the hope of getting a head start, only to be treated like a fool in the end. The saddest story, this India.
U.S. "new master"? What BS are you selling. India is just as friendly with Russia as it is with the USA. Heck... most of the Indian military hardware is Russian.
@@danalawton2986 Obviously, not for the blind.
one Indian once asked Lee Kuan Yew what if he were to run India today (when asked at the time) what would he do, and I think Lee Kuan Yew gave a similar answer to Munger
Un-doable. 🤭
To be honest, I think even Lee Kuan Yew will fail if he was asked to manage India.
You are absolutely right ,Indians are not unified!
LKY's answer was actually that India was a made up creation of the British and the various parts actually don't have much in common. When an Indian PM speaks in Hindi huge numbers of ppl in the South cannot even understand him. LKY seems to have believed everyone in India should speak a common language, probably English, as was used in Singapore. He also remarked once how stupid it was that Mumbai and super big cities weren't given more independence, instead the state politicians use the big cities to steal money to give to others in the state for vote bank politics. If Mumbai had been a independent entity like Singapore it wld have done better.
His analysis on India is spot on….
India must rises and the whole world will benefits 🎉🎉🎉
Come on Indians y❤❤❤
Singapore : 💰 🕺
Malaysia : ☪️💣🇮🇱
Very direct answers
Worth listening to what such a person is saying. We can learn a thing or two to improve our lots.
Greatest leader of all time who understands the need for his people and the country.
As a person of India, I agree that things would stop in India if a bunch of people scream against it...
Latest example being the "farm bills"
But bro those bills were literal fascist drafted by spirit of hitler himself.
@@knightf8648 I see what you did there.💀
I agree. I am Chinese. Our economists said the "farm bills" are right. But Modi cannot push it through. The "farm bills" can improve the efficiency of agriculture and free a lot of human labor, land resources into industrialization.
As an Indian I fully agree with him
What a brilliant yet brutally honest assessment of India!
Well, imagine strict laws and their implementation including harshest measures, economic freedom and pro business attitude ans voila…. Lee Kwan needs to be studied at universities
Please don’t say that. We don’t want to send our people out, we want to develop, we want to make our people mature, we aspire higher, we want the Indian civilisation to regain its prosperity. We want honest suggestions and path ways to build our country. To reclaim the position it deserves. Atleast bunch of us want this to happen and ready to sacrifice ourselves for that.
Totally agreed! It’s 😊
Charlie is a genius.😊
Somehow Mr. LKY had demonstrated to world leaders building a successful, modern new nation does not solely dependent on abundant of natural resources alone.... other factors are equally important too. The human side of the equation plays a very vital role in building one such nation in the world. Luckily, Charlie Munger was asked at least an intelligent question among all , that is sufficient enough not bore him to snooze as an invited guest.
he basically said india never will be a developed country as long as they have caste system and faulty democracy, its crazy that he said india adapted bad side of democracy
Truly spoken by someone who is NOT afraid of repercussion from the cancel culture.
Corruption in USA is a huge problem.
At least American's don't have to bribe to obtain a birth certificate.
I have worked with so many wonderful and talented Indian programmers but its so frustrating to do anything in India because nothing really gets done here, everything you want to do, 10 people will come in and voice their opinions and every one wants things to be done their way, its ridiculous.
Agree
*Iq definately matters their can few exceptions who get top ceo post not for innovation buy for licking, donkey like hard work, and being subservent*
Munger is no fool
It's not religion, it's racial. It's two different things. Furthermore, just to correct him, countries like Malaysia is not a muslim country in the the federal constitution it's just that it's majority Malay that's all. In fact, when it gained independence, it has 35% chinese and 10% indians. Now, probably both combined around 40%.
Religious dogma has dominated Malaysian politics, with the majority of them belonging to the majority race Malay. No correction needed.
@@ZhenYae That's fair point, but my point is that Malaysia is a multi-racial/religions country. That's the fact he got wrong.
@@leealex24 He made it clear. Singapore was kicked out of Malaysia despite of Malaysia being multi racial, dominated by Malays in politics. His reference to Islam is overt. All racial riots in the Malaysia Peninsula had a religious dimension to them. Ie Islam. Today, it is still being dominated by Islam/Malay.
@@ZhenYae I think Singapore also need to reflect on themselves, you guys also screwd up. Tunku abdul rahman was the most progressive, liberal and multiracial prime minister ever had yet singapore is kicked out because of LKY. Food for thought.
@leealex24 Now you are resorting to ad hominem, assuming I am defending Singapore. It does not detract from the fact that Malay/Islam controls the politics in the region. Address what Mr. Munger had to say instead. He mentions the Hindu religion as well and how disruptive it is in the subcontinent, but race does not feature unless it is the Khalistani. So, yes, Islam and the Malay race played a pivotal role in driving Singapore out. There are no organizations of Hindu countries to defend, is there? Defend what Munger had to say instead. Mahathir is at his best again, playing up race and Islam again, is he not?
In a nutshell: It is racial and the absence of religion ie ISLAM.
the majority religion in India is Hinduism which is closely associated with their caste system.
You may hate what he is saying but it is the truth....
India needs to be better than a cobra in order to succeed
Nice charlie with explicit idiot chain. Thats funny
India itself isn’t “overpopulated” just its cities are
I wonder if Lee agree with America founding fathers agreement like bill of rights
He would probably agree with some parts but not with others
The gentleman sitting beside him is either astounded by the profound wisdom or shocked to hear that there are "stupidities of democracy". 🤷♂️
Not just stupidities, it’s an incoherent and failed system all together, but either way this man was still a globalist so I can’t give him my full admiration
or shocked that Munger dared to say it out loud.
@@MetaView7 millions say it out loud, they just get bombed by the “land of the free” although it’s really a positive because now when things go to hell in America nobody on earth is going to be coming to help them
@@MetaView7 millions say it out loud, they just get bombed by the “land of the free” although it’s really a positive because now when things go to hell in America nobody on earth is going to be coming to help them
Or just high as a kite.
I am an Indian and he is bang on.
The corruption in Indian govt offices and society and tribalism originating from abuse of democracy is startling.
He is completely right when he says it is difficult to get anything done in India.
Countries outside of Asia will soon discover what doing business with India is all about.
The Asians already know what it is like to do business with Indians locally.
so what changes need to be done to make it work
@@janechou5724 This country has to be completely destroyed and rebuild by westerners, which seems expensive so they have just abandoned it.
The food is good
@@janechou5724 all Indians must accept Islam in order to be truly successful full stop
Being and Indian living in Singapore, every sentence hit a home run for me ! Absolute truth!
You’re a Singaporean? Ethnic Indian, lol
Its the Chinese who created Singapore if it was indian majority there will be no prosperous Singapore
😢
As a Singaporean, I am constantly amazed that so many foreigners know so much more about Singapore and Lee Kuan Yew than I do
I even got him to autograph a book on himself!
His style of governance and line of though is the model for many Chinese politicans nowardays. The whole harmonious society theory popular in China right now is somewhat inspired by LKY.
That's cause Lee Kuan Yew is one of the best leaders to have ever lived. Singaporeans are extremely lucky to have had such an amazing Prime Minister for 31 years.
@@Trgn LKY was a product of his upbringing and culture. He took the best of old Chinese values a social contract between the rulers and people, the Chinese imperial scholar system and updated them with concepts of a modified democracy and combined it with a state directed form of capitalism. Deng then took the idea to the next level when he liberalized China.
I’m a PRC lived in Singapore for some years, (not PR yet) I attended Mr Lee’s farewell when he passed. We queued for long hours like hundreds of thousands of many other Singaporean did in the mid of the night , just to bid him farewell. he is such a great great man ! I have read his books , his biographies, I’m trying to learn ❤🙏
As a Singaporean, I feel very proud watching this video ❤❤❤❤
Hey that was me asking the question! That was my first time at the DJCO meeting. Charlie even spent 3 hours with 12 of us after the official meeting just answering questions. That was the last time they held the meeting at the DJCO headquarters because it got so popular after that year. Such great memories. Incredible experience!
Wow, its a great question. Thanks for asking Charlie that!😊
It's not religion, it's racial. It's two different things. Furthermore, just to correct him, countries like Malaysia is not a muslim country in the the federal constitution it's just that it's majority Malay that's all. In fact, when it gained independence, it has 35% chinese and 10% indians. Now, probably both combined around 40%.
@@leealex24 Malaysia had a 30% non-Muslim population while Singapore has 80% Chinese population. Charlie does not understand Asia. First China, South Korea and Taiwan develop rapidly in the 70s. China started to develop in the 1980s. From analysis Thailand, Vietnam, Indonesia, Singapore and Malaysia achieve rapid development from the 1980s. It's nothing to do with the genius of LKY. LKY was just an ordinary dictator leaving through a rising prosperity environment. Nothing to do with LKY.
@@everythingandmore5537 Yes, he is pretty ignorant. Actually, in the 60's/70's, Malaysia had more than 50% non-malay population of which about 30% - 35% are Chinese. Now, yes, it has decreased to about 40% non-malay population.
@@everythingandmore5537 Singapore’s stellar post-independence achievements have nothing to do with LKY? Our neighbours have all made some degree of progress but none to the extent of SG. Dictators in our neighbourhood have come and gone too. Geography doesn’t explain everything either. Just look at our nearby neighbours like Batam, Riau or Johor. Why didn’t they become another SG? They have hardworking Chinese communities there as well. Without the exceptional political leadership we had in LKY and his pioneer team, SG would likely have remained a third world backwater like our immediate neighbours. Give credit where credit is due.
This man gives credit where credit is due.
Even my Indian colleagues acknowledged what he said.
Amen
@@Meru732 lollll
I’m so proud to be a Singaporean
Another Indian here, applauding Munger's take.
wow so brutally honest and straight to the point. I will not have dare to say it so bluntly to any indians. but that are facts. i wish, india would progress in due time putting behind all the BS negatives that came with democracy. Power to Asia!
When late LKY was expelled from Malaysia, those Malaysia Malay politicians thought that he will not make it and be forgotten. Today hundred thousand of Malaysian working in SG and many of Malaysian Chinese converted to Singapore citizenship !
I have lived in both Singapore and India - loved them both. When in India I'd say to my colleagues "you need to put LKY on a 20-year contract to sort the place out". India has so much potential but it is wasted for all the reasons stated by Mr Munger - such a terrible shame. India has wonderful people but its systems of governance and bureaucracy are an impediment to development & progress.
100 percent correct
India is a superpower bro💪u don't know your stuff
@@gmanlee575😂😂😂😂😂 ahahahah
Thanks to 60 years of congress rule
What he said about India is largely true, while we were taught to be proud of our diversity, I believe we just have too many people to be able to appreciate such a thing, it is actually a hinderance to growth, we have too many people with totally different cultures, beliefs and languages, with a substantial dose of poverty... Wealth distribution is so uneven, you will see people literally living on the footpaths once you step out of the gates of a state of the art airport like Mumbai.. but we have to play with the cards we are dealt with, things are changing for the better, slowly, but surely
Lee did say the founder of Infosy should run for government and run it like his company
The best answer I can give, in addition to Charlie's comments, is: India can find a leader who must be righteous and incorruptible, then he must have the guts and determination to clean up the whole administration like the way China's Xi Jin Ping does. Having done that, then India has hope to become strong and prosperous like China and Singapore.
Mr Munger certainly didn't mince his words. Sharp and directly to the point! 😅💪🏻👍🏻
Honorable Mr.Lee Kuan Yew ,founding father of Singapore,an amazing man with vision,God Bless him for all the achievements of today’s Singapore success
Lee Kuan Yew was asked if he were in charge of India, what would he do to turn India into an economic powerhouse. Lee declined,. He said language was one problem - no leader of India could speak to ALL 1.4billion Indians (today) directly. Lee was raised in an English-speaking household and English was his first language. However, he learned Hokkien (or Fujian), a Chinese dialect that perhaps 75% of Chinese in Singapore could understand and famously spoke in Hokkien to rally the Chinese people. Up to 1978. When he realised that Hokkien and Dialects were not going to cut it on the world stage.From then onwards, he never spoke in Hokkien (in public) anymore. Instead he switch to Mandarin (a.k.a. Putonghua to China), and initiated the Speak Mandarin Campaign and (you can say) "forced" the Chinese in Singapore to speak Mandarin. This "erased" the dialect differences, but more importantly prepared Singaporeans to deal with China and Taiwan. He explained (years later) that if we could speak Hokkien (or any other Chinese dialect), we would eventually be able to reach maybe 30 to 50 million of those dialect speakers. But speak mandarin, and you can read 1.3billion Chinese (PRC) and 24 million Taiwanese, and several other Chinese diaspora communities.
There is no such "common" Indian language.
Lee was also very fluent in Malay, and (if I am not wrong) could also speak Tamil to a degree. But Tamil is only one Indian language (or dialect). For Singapore, we had settled on Tamil as the language of the Indian community, but there were other Indian groups. But for the national education, English was the common language of instruction (in school) and government.
Eventually, Chinese parents abandoned the Chinese-language schools because they realised their children would be better served being fluent in English.
And yet, in 1991, an opposition politician campaigned in the Hougang constituency, and roused the people/voters with this declaration: I am Teochew! ("Wa si teoh chew nang!"), and wrested the constituency from the PAP (Lee's political party). Dialectic affiliation and loyalty runs deep. The opposition has held onto that ward since. Over 30 years.
India needs a leader who can unite the people. Which is a difficult thing to do, because the people are not inclined to unite. What Charlie Munger said is also true - the worse part of democracy has taken hold.
But that can be overcome by a sense of common destiny. For that India needs a leader that speaks to and for all Indians. Until that leader comes forth, any Indian leader speaks for the "tribe" (language group) he emerges from, and maybe a few million other Indians if he can speak another Indian language or two.
Alternatively, ALL Indians must be fluent or familiar with English as a common tongue, and be united at least by that common tongue,
Which is ironic... :-)
You forgot to add in Lee Kuan Yew spoke Malay and a little tamil for the rallies.
@@firefly4326 Impeccable reading and comprehension.
@@angeluscorpius my bad. U did mentioned 🤭
dialectic affiliation?
LKY grew up speaking Malay Baba and English. Both are his first languages
No doubt, Mr. Lee Kuan Yew was a great leader & founding father of Singapore.. People of my generation will know that the main brainchild that contributed to his success was no other than Dr. Goh Keng Swee.. The man that assisted and consulted Mr. Deng Xiao Ping to turn China into what it is today..
Mr LKY was a great leader, who had a good team of coworkers tohelp him transform Singapore into what it is. He could not do it by himself.China e mployed Dr G oh Keng Swee to do the masterplan for their transfomation, just as he did for Singapore. So it boils down to teamwork with a visionary leader.Mr Xi Jin Ping also has a good team of co workers to help him lift 600 millionof the population out of poverty.
Caste system is worst in India! It has been a soul sucking India’s brain power. Many are just leaving India and moving to other countries.
Indian officials draw their salary not from consolidated fund of India but from the hard-earned money of its Citizens.
Oh my god ! He is spitting exact truth.
The recent example is abolishment of farmers law and CAA law and Uniform Civil code.
Every time some crazy thugs come and start screaming and don't let reforms to happen.
We are no where closer to China no where closer to singapore.
CAA and UCC have nothing to do with business.
UCC and CAA are made up for religious polarization by the ruling govt.
One good example of what Charlie Munger is saying is lockdown of Sterlite plant in TN.
Another would be roadblocks on Mumbai Metro.
No bullshit, no filter.
For India to succeed democratic system is not suitable as it is too diverse and divided. It needs a system to consolidate and unite before it can see progress and result.
RIP Charlie. I didn't know you thought highly of LKY as well so it was a pleasant surprise. India is in many ways similar to my country Philippines and you are absolutely right. The corruption and dysfunctional culture in place get in the way of true progress for the whole nation. They persist because few people benefit from it immensely. The good ones like potential future LKYs are removed from the system mercilessly.
Your country needs a leader who put the country’s and people’s interests ahead of his own. I don’t see that happening
Lee was a dictator, but a benevolent dictator. Singapore has my kind of government. The good must give up some of the freedom to control the bad. Democracy can only work if there are only law abiding citizens.
India has fundamentaly wrong things that are impossible to solve
Charlie Munger and LKY, 英雄惜英雄
Lee kuan Yew is the best country builder and leader ever!
I admire Charlie for the depth and openness of his mind. I may add that what Deng did in China was equally if not more astonishing just because the size of China. He may copy Singapore and succeed in Shenzhen which is a comparable size but fail elsewhere in China which is almost 1000 times bigger. On the other hand, just like Charlie himself, these success stories are unfortunately too rare; and not being copied, shared, and celebrated enough throughout the world.
singapore gdp per capita is about 7x China. You are right that DXP did great, but China is still very poor country on a per capita basis. And the fact that China is so big is why they have developed so fast, Japanese/Taiwanese/Korean/Western companies were all falling over themselves to get a small slice of that massive pie. All China had to do was open up, give them legal protections and let them in
@@Kruuppe lol go check top cities gdp per capita, btw they just joined WTO 20 years ago. and also china controlling the value of rmb, your calculation is based on USD and SGD is pegged against it
Not quite correct. Deng experimented with several coastal cities, not just Shenzhen by designating them as Special Economic zones - little Singapores, if you like. These were successful, and the experiment were then implemented in other cities - firstly the 1st tier cities, then 2nd tier, 3rd tier and so on. The result is what you see today. Deng didn;t fail elsewhere in China. In such a huge country, you have to do it in small chunks and in phases. Now, the development has gone to the less developed western regions. Dubai also used Singapore as a model, and so have a few African states that have copies Singapore successfully.
I dont think there is a need for any comparison to be made against two great leaders. LKY has so much respect and regard for Deng and he was very open about it. Likewise, Deng has hosted LKY everytime he visited China. Mutual learning from each greatness.
I just gained a point or so in wisdom after watching this.
100% correct. Speaking as a south asian myself, India's shame-culture versus Singapore's judgement-culture will block further progress
The fact that LKY is not talked about more in the rest of the world is beyond me.
Because he is the outlier that when you have an effective and competent leader, an authoritarian government actually far outperform a democratic one.
How does he know?! This is something most Indians are embarrassed to talk about especially in front of Westerners, No wonder Warren Buffett snatched him as soon as he could, What an amazing asset.
Interesting! So that seems to be Posco`s competitive advantage, they know some special way of building steel. Charlie had Posco in his portfolio for quite some time
Each word came out of his mouth is 100% true. But the current central government gives me some hope. Modi 👍🏽
I love rich old people who don't give a shit anymore. He just tells it like it is. No bullshit, no euphemisms.
As an Indian what Mr. Munger said about India is right the corruption, poverty, religion and caste issues, etc.
Charlie Munger is very intelligent and perceptive. One of the few.
Dictatorships are the best regimes when they have the best leader, Democracy is the worst system when you have stupid leaders.
If Singapore had remained mired in democracy, Lee Kuan Yew would have had to contend with internal politics instead of economic development.
Democracy is a system that prevents you from marrying the best leader, and keeps you stuck with a series of short dates with low-quality, corrupt politicians.
Such true words...
just a capitalist singing praise for another capitalist. im not an indian, but i think indians shdnt bother much what munger said here. its not just abt digging up lousy iron ore and lousy coal to make some dudes in korea richer while giving you subsistent income for doing his bidding.
👍 his view is bull eye
For a country to prosper, firstly you have get rid of corruption, just like what Mr Lee Kuan Yu did.
Not to take anything from LKY but you really can't really compare the development challenges of a small city-state of 6M vs a massive country of 1.4B people. On two entirely different scales of difficulty and challenge.
tatonga@ you are right. Sometimes, size does matter. But you probably don't know that from Jiang Zemin to Xi JinPing came here to Singapore to learn about Nation building.
@@gloriagloria5377starting from Deng
Without him, Chinese would not have a role model
@@gloriagloria5377 I was actually referring to India in my comment, not China since Charlie was so critical about India which also has 1.4B people in case you don't know that.
@@banarama4144 The Chinese would have done fine with or without LKY being a role model. It's impossible to scale/translate a model that works for small city state of 5M people to one that will work for a country of 1.4B people with a radically different political/social/economic structure.
Verbalized the truth of the matter with awesome clarity. Felt as if he has lived his life in India.
Does anyone seriously think Lee Kuan Yew could have survived one week as Prime Minister of India, a democratic country with a population of 1.4 billion, secular with a large population of Muslims, China and Pakusran as perennial enemies, centuries of colonial induced poverty, several hot wars over seven decades, and a hefty chunk cut out of it to form Pakistan? Lee Kuan Yew was a great leader of a one city state....does anyone believe he could have governed India the same way, for even one day?!
Lee himself has said before he would fail in India ir Africa because the culture and way of doing things are so different.
Everyone thought he will fail in singapore. Nobody thought he could make it in his lifetime.
That's how he became a legend.
Charlie is smart indeed but he forgotten to mention another worthy Asian leader, Park Chun He. LKY had the advantages of playing the British against the USA. PCH had a much bigger nation to manage and even poorer war-torn country as a base to rebuild upon.
He is spot on about India though.
Caste system in India is truly a shame & stumbling block to India's progress. Am i not right ? From SEAsia 🍻
Caste is illegal in India and the govt in fact mandates HUGE affirmative action for lower caste to the point that upper caste feel they have to leave India to get an education. The liberal western media is the one talking about caste non stop in India when the reality is it's more of an issue because of how much politicans pander to lower castes
You are creating a mountain out of a molehill. Caste isn't even an issue in the corporate and metropolitan areas. It is the fact that it is a democracy that is holding us back. A country as big and diverse as India will always have bad faith actors working for their own gain. You avoid that pitfall with an autocratic system. For better or for worse we don't have that.
It’s silly to compare india with tiny red dot , Singapore . India has many wicked problems, but democracy is not one of them . India will do just fine . It doesn’t need to be Singapore .
I was born in Singapore. Now I live in San Francisco. What a huge difference!
Bruh, why the downgrade
Literally from the first world to third world lol
@@Thekidisalright San Francisco, USA 3rd World? Isn't California one of the richest states?
@@AdvocateOfJamaicarichest state but u r not in the club to be benefitted 😊
@@Thekidisalright USA is not a 3rd world country. Your joke is not funny
That's must have been a very hard pill to swallow for all the Indians in the audience. But LKY also said it when he was alive.
Unfortunately all other emerging democracies have copied the worst of the democratic system, forged chains from them and gagged themselves in those chains. Nigeria included.
Indian culture is a lot backward. Take caste system that he mentioned in this video as an example, many Indians were born into low social class by the caste system, that's adverse for industrialization.
Somehow people who know nothing about India feel very comfortable talking shit about it.
Jelous old fellow 🤦🏻♂️🤦🏻♂️😂😂
The Corruption in India is.not an exception. It's the same way amongst 99% of humans on planet earth. The degree and methods vary.
He is really knowledgeable. He knows the caste system, corruption, abuse of democracy is big hindrance for growth in India
he actually said about caste based reservation & foolishness of democracy
You know by caste system he meant current reservation system he acknowledged that and said in future many intelligent Indian will leave india only because of reservation of certain community
Prime Minister Indira Gandhi, famously said, Lee Kuan Yew runs a department store, I run a Country
He is talking about the thinking of the Indian nation
By inference, it was also a backhand slap to the western style of democracy...
It's not religion, it's racial. It's two different things. Furthermore, just to correct him, countries like Malaysia is not a muslim country in the the federal constitution it's just that it's majority Malay that's all. In fact, when it gained independence, it has 35% chinese and 10% indians. Now, probably both combined around 40%.
Malays make up about 62.5% of the population in Malaysia. Malays are predominantly Muslim. 4% of Indians are also Muslim. Muslims make up 63.5% of the population. So Munger wasn’t wrong in calling Malaysia a Muslim country.
@@leealex24 Malaysia is a Muslim country, period. Your shariah law is in practice and only getting stringent. Good luck thinking otherwise.
It is a fact that the Msian Muslim leaders rejected LKY. They hoped LKY would come back begging them to be re-admitted into Malaysia federation again with his mouth shut. But that didn't happen because they underestimated what a Chink would do. Even if he is in a malaria infested swamp.
LKY has never managed a country of more than 5 million herd, more than 6 races, non-Chinese major, more than 100 years of national history. He is a big fish in a small island of not more than 800sq km. It is super unwise to quote him in the discussion of India, China, USA, Russia, UK, Fance, Ukraine, Japan, etc etc.
We have a die-hard secular government that is ALWAYS RIGHT...Don't you dare say otherwise. When a government employee was chided off by a father who asked the "public servant" "why are you carrying my 9 year old daughter against her will, in your arms without my consent, don't you know your religion's etiquettes?" The security officers there agreed with the father but the government officer promptly without thinking twice sharply answered, "so you want to get religion into this...." and continued his ways as if above the law....
Yep. That's the truth I swear to God almighty and upon my parents' graves...the extent to which they fanatically defend secularism
The views of these type of ppl like LKY and Charlie Munger are standing on the rooftop of the skyscraper, where some of us probably stay at level 1 or 2 and some just stay at the ground floor. 😊