ENABLE THE PEOPLE TO SAY, “WE DID IT!”

Abstract

Foreign direct investment (FDI) is an effective means of attractingproductive capital required for economic growth and development. Developing countries, however, should also look inside and mobilize inactive domestic capital they are sitting on. The leader's task inevery developing country is to initiate and accomplish the necessary national reforms, enabling it to transform the "dead" capital into "live" capital that would be utilized productively together with FDI. Developing countries must keep the economy humane,and that requires leadership. According to a great thinker of ancient China, Lao Tsu:Agoodleader is the one whom people respect and love.Abadleader is the one whom people fear.Theworstleader is the one whom people despise.Anidealleader performs actions without unnecessary speech (that is, without resorting to propaganda or spin), and his people say, "We did it!"Every leader should strive to becomeanidealleader, as envisioned by Lao Tsu. Under such a leader (or leaders), the people will say, "We did it!" when they make remarkable economic development and enjoy high living standards in a civilized manner.