It was only a few years ago that South Korea, wracked by poverty, political chaos and popular discontent, was widely regarded as a sinkhole of American aid. Now this small, ruggedly anti-communist country enjoys relative political stability and is making impressive economic progress. It has become one of the success stories of the United States assistance program. How did this startling reversal come about?
Officials familiar with South Korea's history since the war with the communist North insist that the ingredients for success had been there for a long time, however obscured they may have been in the dark days of the early 1960s. They are convinced that the apparent miracle is genuine and likely to continue, although as Assistant Secretary of State William P. Bundy has pointed out: "While Korea's achievements are considerable, its major problems require that they be kept in perspective."
Economic growth was at the rate
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