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East Asian Business in the New World - 1st Edition - ISBN: 9780081012833, 9780081012840

East Asian Business in the New World

1st Edition

Helping Old Economies Revitalize

Author: Shaomin Li
Hardcover ISBN: 9780081012833
eBook ISBN: 9780081012840
Imprint: Elsevier
Published Date: 7th September 2016
Page Count: 218
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East Asian Business in the New World: Helping Old Economies Revitalize discusses how to conduct business in East Asia. The main objective of the book is to help American workers and businesses gain competitive advantages in a global marketplace in which the emerging Asian economies are rapidly becoming major players. The American economy appears to be on decline, especially relative to the rapidly rising economies in places such as China. To revitalize the American economy and those of the ‘old world’, we must pay close attention to the economies with which America competes.

The objective of this book is two-fold, with an initial focus on the opportunities and challenges of doing business in East Asia that includes tactics that will help readers understand Asian economies and business practices so that they can compete more successfully in the region. Secondly, the book seeks to teach readers how the U.S. can learn from East Asia in revitalizing its own economy. This is what sets the book apart as it analyzes the social institutions in major Asian countries, including the political, economic, and cultural institutions, and then compares them with the institutions in the U.S., identifying the strengths and weaknesses of U.S. institutions and providing strategic and policy recommendations that may help the U.S. economy and American firms compete in the global marketplace.

Key Features

  • Discuss how America and older economies can learn from Asia
  • Provides a theoretical framework of rule-based vs. relation-based governance to help readers understand the differences in doing business in Asia vs. doing business in mature economies
  • Offers business insights based on the author’s business experience in Asia
  • Approaches the topic from a comparative perspective


Researchers and postgraduate students of Asian businesses and economies; MBAs and doctoral business students; businesspeople working in the region; policymakers

Table of Contents

  • About the Author
  • Preface
  • Chapter 1. Introduction: East Asia in the Globalizing World
    • Abstract
    • 1.1 East Asia at a Glance
    • 1.2 Globalization
    • 1.3 Globalization, East Asia, and the United States
    • Questions
    • References
  • Chapter 2. Western Rules Versus Eastern Relations: A Fundamental Framework to Understand East Asia
    • Abstract
    • 2.1 Some Puzzles
    • 2.2 What Made the “East Asian Economic Miracle”?
    • 2.3 Key to Understand East Asia: Rule-Based and Relation-Based Governance Systems
    • 2.4 How Do People Govern Transactions in a Relation-Based Society?
    • 2.5 The Costs and Benefits of a Relation-Based Governance System
    • 2.6 Caution: Rule-Based Versus Relation-Based Are Not Black and White
    • Questions
    • Endnotes
    • References
  • Chapter 3. Political and Economic Systems in East Asia
    • Abstract
    • 3.1 The Interplay of the Political and Economic Systems
    • 3.2 The Political Economic Systems of Major Countries in East Asia
    • 3.3 East Versus West: Two Contrasting Legal Traditions
    • 3.4 The Role of the State: A Comparison of East Asia and the United States
    • Questions
    • Endnotes
    • References
  • Chapter 4. The Role of Culture in Economic Development: Does Culture Give East Asia an Edge Over America in Economic Competition?
    • Abstract
    • 4.1 What Is Culture?
    • 4.2 Culture and Economic Performance
    • 4.3 Changing the Culture to Be More Productive
    • Questions
    • Endnotes
    • References
  • Chapter 5. Why Some East Asia Countries Thrive Despite Corruption
    • Abstract
    • 5.1 Effect of Corruption on Economic Growth
    • 5.2 Why Do Some Economies Grow Fast Despite Corruption?
    • Questions
    • Endnote
    • References
  • Chapter 6. Information and Investment in East Asia: What We Need to Know When Investing in Relation-Based Societies
    • Abstract
    • 6.1 Information in Relation-Based Societies
    • 6.2 Information Management by a Relation-Based Government
    • 6.3 Information Management by Firms
    • 6.4 Relation-Based Ways of Financing
    • 6.5 Why Foreign Investment Flows to Countries With Poor Legal Systems
    • 6.6 Direct Investment and Indirect (Portfolio) Investment
    • 6.7 Types of Investment and Modes of Governance
    • 6.8 Implications of Investment Type and Governance Mode
    • Questions
    • Endnotes
    • References
  • Chapter 7. The Currency Exchange Market in East Asia
    • Abstract
    • 7.1 The Foreign Exchange Market
    • 7.2 Case 1: Japan Airlines
    • 7.3 Exchange-Rate Regimes in the World
    • 7.4 The Exchange-Rate Regimes of East Asia
    • 7.5 Case 2: Why Quantitative Easing Has Different Results in the United States and China?
    • Questions
    • Endnote
    • References
  • Chapter 8. Business Strategies in East Asia
    • Abstract
    • 8.1 International Business Strategy
    • 8.2 Strategies in East Asian Countries
    • 8.3 The New Hybrid Strategy: Mass Customization
    • 8.4 Strategic Considerations
    • Questions
    • References
  • Chapter 9. Market Structures in East Asia: Why Selling to Some Countries Are So Difficult?
    • Abstract
    • 9.1 Customer Service Quality in Different Societies
    • 9.2 Salient Features of Relation-Based Market Structure
    • 9.3 Trade Flows Between Rule-Based and Relation-Based Countries
    • 9.4 Counterfeit Goods in East Asia
    • Questions
    • Endnote
    • References
  • Chapter 10. Human Resource Management in East Asia: Should You Speak Out During Company Meetings?
    • Abstract
    • 10.1 Mafia Boss or CEO?
    • 10.2 The Relation-Based Organization Structure and Management Style
    • 10.3 When Rules Meet Relations in the Workplace: The Frictions Between the Two Systems
    • Questions
    • Endnotes
    • References
  • Chapter 11. Technology and Innovation: Will East Asia Surpass the United States in Innovation?
    • Abstract
    • 11.1 The Use of ICT and Efficiency
    • 11.2 The Internet and the Relation-Based Societies
    • 11.3 The Interface Between Governance and ICT in Relation-Based Organizations
    • 11.4 Innovation and Creativity in East Asia
    • Questions
    • Endnotes
    • References
  • Chapter 12. The Transition From Relation-Based to Rule-Based Governance in East Asia
    • Abstract
    • 12.1 The Puzzle Solved: Together or Separate Checks?
    • 12.2 The Challenge Facing East Asia: The Transition From Relation-Based to Rule-Based Governance
    • 12.3 Opportunities and Challenges for Multinational Corporations Doing Business in East Asia During the Transition
    • Questions
    • Endnotes
    • References
  • Chapter 13. Conclusion: What Can We Learn From East Asia?
    • Abstract
    • 13.1 A Comparison Between East Asia and the United States
    • 13.2 What Can We Learn From the Relation-Based Way?
    • 13.3 What Can We Learn From East Asia?
    • 13.4 Get Ready to Compete
    • Questions
    • Endnotes
    • References
  • Index


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© Elsevier 2016
7th September 2016
Hardcover ISBN:
eBook ISBN:

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