Managers' Forum ~ Book Reviews
Asian Eclipse
Reviewed by: Hongcheol Park
Asia was a shining star in
the world economy for most of the 1980s and 1990s.
The secrets of its success were often a subject of intense debate.
It includes
Japanese economic power, Confucian work ethics, the freeing of China’s
markets,
Eastern ingenuity and the powerful overseas Chinese networks. Critics
were dismissed
as ignorant of Asian values. The author, Michael Backman presented
the story
of Asian business and reveals the dark side of the Asian Success story.
The
recent downturn in the Asian economies has been also blamed on a number
of factors.
In this debate, this book analyzes a number of business practices that
are special
in the region and which have played a significant part in Asia’s downfall.
Asian
Eclipse includes chapters on the unique business environments of Japan,
China,
and Indonesia, as well as clear explanations on how outside investors
should
approach the new Asian markets.
This book also mentioned
five important highlights that explain the situation
of Asia.
· China – Rising star or black hole?
· Japan – High-level corruption, organized crime and poor corporate
governance
· Indonesia – the ultimate victim of President Soeharto’s rampant
cronyism
· Donor gate – President Clinton’s Campaign funds and the Asian
connections
· Corporate Asia – what really happens to shareholders’ money?
This book explained what
constitutes “Asianness” is a highly complex corporate
landscape. Which is Confucian thinking affects all aspects of business
culture,
bankruptcy is considered an affront to one’s ancestor, the media are
threatened
with closure for reporting on “sensitive” issues, the style of management
is
family system, often ending in costly family disputes, and auditing
and corporate
governance are new concepts. With a thorough analysis of the different
Asian
markets, the book shows the structurally inherent flaws that led to
widespread
economic crises from 1997 to 1998. With the view of this book, the
real Asian
miracle is that the economic collapse didn’t happen earlier.
This book should be the bible
and eye-opening book for anyone considering doing
business in Asia. The end of book includes excellent case-studies that
provides
rare and fascinating insights into some of the more dark side corporate
practices
in the region, including President Soeharto’s ventures, and also the
contributors
to Clinton’s 1996 campaign funds.
Asian Eclipse, ISBN 0-471-83530-7
(this documentation is not complete)
