No, it doesn't. Why don't you actually look at the economic policies of east Asian countries instead of just saying chauvinistic shit that makes you feel superior
But why do they (East Asians) have better economic policies than Indians, for example, fundamentally in the first place?
Everything comes down to the innate quality of the population itself (intelligence, culture, and general personality traits like agreeableness and conscientiousness).
Population decides its political system, population decides its politicians, hence even economic policies. It doesn't come out of thin air.
Also, economic policies are not everything that matters for development, there are 5-10 other factors as well.
You can have the best economic policies, in the world, but if your population is unqualified (not intelligent enough) to work and compete in higher-valued-added industries and manufacturing broadly, and compete on a global stage, you did nothing.
But even before then, if your population isn't willing to be patient enough to work hard in factories over time in low-value industries, extremely intense jobs, for good portions of their lives, until you as a nation accumulate enough capital required to invest in those fixed assets, required for higher-value-added, and higher quality jobs, for next generation, it similarly can't happen.
East Asian countries are the only countries empirically shown to be able to economically develop to a decent level without any colonialism and extremely late when the West already had hundreds of years of accumulated economic advantages.
So, why did no country in the hundred+ of different countries in the Global South manage to do the same as them?
There have to be much deeper cultural, but mostly biological factors (seen how all East Asians have certain similarities).
It is not only about some kind of general intelligence but also biological predisposition to certain 'collectivistic' personality traits.
That kind of Western hypocritical way of thinking "anyone could accomplish anything, grow wings and fly", is false and "fairy tale".