Fareed Zakaria says,

A century ago, when East Asia seemed immutably poor, many scholars (most famously German sociologist Max Weber) argued that Confucian-based cultures discouraged all the attributes necessary for success in capitalism. A decade ago, when East Asia was booming, scholars turned this explanation on its head, arguing that Confucianism actually emphasized the essential traits for economic dynamism. Then the wheel turned again, and many came to see in Asian values all the ingredients of crony capitalism.

Well, it seemed a good idea at the time.