Asia was probably the biggest economic sensation of the post-war decades. The breathtaking success of Japan was followed by the remarkable rise of “four tigers”, then ASEAN founder states and then China. The Asian miracle became a commonly accepted definition of this success. In the late 1970s and especially 80s it became clear that the balance of power in the world had changed. Politicians, businessmen, scholars began to talk about “the new Asia Pacific age” and Asian economic model, different from and, maybe, even superior to Western capitalism. However, in 1997-98 the Asian economic crisis came and made the region a sick man. Six years before that Japan, the regional powerhouse entered more than a decade-long period of stagnation. The miracle was over. However, the crisis was overcome within a surprisingly short period of time. Naturally, the question arises: What now? What is going on in the region after the miracle and after the crisis? What is today’s face of Asian capitalism and how should we view its performance? Readers interested in regional developments will find a lot of literature about miracle decades and crisis years. However, few analysts have addressed the challenging questions addressed in this book. The authors vividly show that Asian capitalism is undergoing a radical structural transformation. These changes are directly affecting its key institutions: governments, companies, labor relations, etc. As a result Asian economic systems are becoming much closer to the Western-style, especially Anglo-Saxon capitalism, though the region retains some important specific features, especially regarding business culture. This book is a must for business people worldwide, for all those who study the region in colleges and business schools, for people engaged in various international activities and, finally, for all those who want learn more about our world at the dawn of the new century.
Book Details:
- Author: Ivan Tselichtchev
- ISBN: 9780470823606
- Year Published: 2008
- Pages: 350
- BISAC: BUS027000, BUSINESS & ECONOMICS/Finance
About the Book and Topic:
Asia was probably the biggest economic sensation of the post-war decades. The breathtaking success of Japan was followed by the remarkable rise of “four tigers”, then ASEAN founder states and then China. The Asian miracle became a commonly accepted definition of this success. In the late 1970s and especially 80s it became clear that the balance of power in the world had changed. Politicians, businessmen, scholars began to talk about “the new Asia Pacific age” and Asian economic model, different from and, maybe, even superior to Western capitalism. However, in 1997-98 the Asian economic crisis came and made the region a sick man. Six years before that Japan, the regional powerhouse entered more than a decade-long period of stagnation. The miracle was over. However, the crisis was overcome within a surprisingly short period of time. Naturally, the question arises: What now? What is going on in the region after the miracle and after the crisis? What is today’s face of Asian capitalism and how should we view its performance? Readers interested in regional developments will find a lot of literature about miracle decades and crisis years. However, few analysts have addressed the challenging questions addressed in this book. The authors vividly show that Asian capitalism is undergoing a radical structural transformation. These changes are directly affecting its key institutions: governments, companies, labor relations, etc. As a result Asian economic systems are becoming much closer to the Western-style, especially Anglo-Saxon capitalism, though the region retains some important specific features, especially regarding business culture. This book is a must for business people worldwide, for all those who study the region in colleges and business schools, for people engaged in various international activities and, finally, for all those who want learn more about our world at the dawn of the new century.
A comprehensive study of the latest developments in the economic and business environment of Asia. The authors argue that after the Asian crisis in 1997 the region entered a new stage of economic growth and development. Their main focus is the fundamental structural transformation in the regional economies, which marks the end of a unique model of Asian capitalism. Economic systems in the region are now coming closer to Western, especially Anglo-Saxon-style capitalism. Yet Asia retains and even develops a number of important specific features, especially regarding business culture. Transformation of the government’s role, the company model, labor relations, the creation of a more open economy and the regional integration drive are cited as the major directions of change. The authors also take a close look at the structural reforms and latest trends in the national economies, covering the period from 1999 to 2007. Valuable basic data, a thorough study of foreign trade, foreign investment and business environment, as well as a review of the major developments in the post-war decades are also presented. Incisive analysis alternates with lively descriptions of economic, business and every day life, helping the reader to understand the present situation in every country. The range is uniquely wide as it includes not only Japan, China, NIEs and ASEAN-4, but also Vietnam, the Russian Far East, North Korea and the new economic giant India.
– A fascinating and thought-provoking analysis of Asia as an emerging economic community and the implications for the world as it builds momentum. – Authors outline a new form of Asian capitalism that is driving changes in governments and major corporations and which affects the entire socio-economic status of the region. – A must-read title for anyone involved in business with the Asia region, or who seeks to understand the future direction of these complex markets. – Authors have long-term experience of Asia and are well-recognised for their expertise.
About the Author
Ivan Tselichtchev was born 1956 in Moscow, Russia, and received his PhD in Economics in 1983. He currently resides in Japan, and is Professor at the Niigata University of Management, Guest Researcher at the Japan Centre for Economic Research, and part-time faculty member for International Economics courses at Soka University. He has been a member of the Advisory Board of the Euro-Asian Management Studies Association (EAMSA) since 1991, and has written numerous economics articles and publications in English, Japanese and Russian. Philippe Debroux, born 1948 in Belgium, received his PhD in applied economics from ULB and his M.A. from INSEAD. He is currently Professor of International Management at Soka University in Japan and in charge of a range of courses as visiting professor in various universities – “Business Opportunities in South-East Asian countries” at the Université Libre de Bruxelles, and the “Japanese Management System” course at the Rennes National University in France.