For me is the Model of Singapore:

A very competitive and efficient economy that thrives on a free-market system, emphasizing entrepreneurship, attracting in foreign investment, and preserving a low tax environment. Its success can be attributed to the government's capacity to direct growth through strategic planning and policy initiatives, such investing on technology and education. The strength of its model is the strong infrastructure, low levels of corruption, rapid economic growth, and good living standards.

For example:

Free market and pro-business policies. Low Corporate and Personal Taxes: With one of the lowest corporate tax rates in the world (now 17%), Singapore is a popular destination for global corporations looking to establish regional headquarters, including Google, Facebook, and Tesla. Ease of Doing Business: Because of its strong contract enforcement, effective government services, and low bureaucracy, the nation routinely ranks near the top in the World Bank's "Ease of Doing Business" Index.

Effective economic management hinges on the balanced and continuous participation of three key stakeholders: the state (nhà nước), the market (thị trường), and society (xã hội). The state must provide regulatory frameworks and ensure stability while avoiding excessive intervention; the market should drive innovation and efficient resource allocation; and society needs opportunities for meaningful economic participation. However, it's crucial to understand that there isn't a single "best" economic model that works universally. Each country must develop its own approach based on various factors including geopolitical position, cultural values, income inequality (measured by indicators like the GINI coefficient), natural resources, historical context, and population demographics. What works for Nordic countries with their strong social welfare systems might not work for Singapore with its emphasis on free trade and robust governance. The key to successful economic management lies in finding the right balance between these three stakeholders while considering local conditions, ensuring transparency, protecting property rights, and promoting inclusive growth that benefits all segments of society. This requires continuous adaptation to changing circumstances and a focus on long-term sustainability rather than short-term gains.

Good economic management prioritizes sustainable growth, equitable distribution of wealth, and price stability. It involves prudent fiscal policies, responsible monetary policies, and sound regulatory frameworks. Effective economic models, such as those emphasizing innovation, human capital development, and inclusive growth, have proven successful in various contexts. Examples include the Nordic model, known for its strong social safety nets and emphasis on education, and the East Asian model, characterized by export-oriented growth and government-led industrial policies. The specific approach to economic management varies depending on a country's unique circumstances, resources, and development goals.