Asian Post-Crisis Management: Corporate and Governmental by Usha C. V. Haley, Frank-Jürgen Richter

By Usha C. V. Haley, Frank-Jürgen Richter

A decade in the past, a author from Fortune journal wrote within the preface to Kim Woo Chong's ebook, each road is Paved with Gold, that Kim, the Daewoo empire's founder, "personifies the force and mind's eye that makes East Asia a dynamic heart of financial growth." Kim fled South Korea in overdue 1999, almost immediately after his empire crashed. From his preliminary exile submit in Frankfurt, he submitted his resignation from the entire Daewoo group's businesses. He has left no clue approximately his whereabouts for the reason that then.Kim Woo Chong's meteoric upward push as one in all Asia's strongest tycoons, and his both magnificent fall, characterize the Asian miracle and the lengthy predicament that threatended to ruin it in 1997 and that also hangs over the industrial panorama. The system's flaws turned obvious in mid-1999, whilst Kim stated that his businesses, which had got an international succeed in in a debt-fueled enlargement binge, couldn't pay their collectors. by the point the banks that took over the Daewoo team had calculated $80 billion in liabilities, Kim was once altering addresses in Europe. For Asia, classes from the challenge point out that conventional tools of operation via debt financing and over-investing will fail. This lesson and others are explored in Asian Post-Crisis Management.Contributers: Usha C.V. Haley • Masaaki Kotabe & Shruti Gupta • Yasuhiro Arikawa & Hideaki Miyajima • George T. Haley • Brij N. Kumar, Yunshi Mao & Susanne Birgit Ensslinger • Nancy E. Landrum & David M. Boje • Xue Li, John Kidd, & Frank-J?rgen Richter • Malcolm Cooper • Yi Feng & Baizhu Chen • Howard V. Perlmutter • Sek Hong Ng & Malcolm Warner • Thomas Clarke • Keun Lee • Caroline Benton & Yoshiya Teramoto • Fred Robins • Michael A. Santoro & Chang-su Kim • Beverly Kitching • Hock-Beng Cheah & Melanie Cheah

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US exports, corporate profits, and stocks could suffer once again. Capital investment would drop and consumers would spend less. As a result, the USA could slip into an economic stagnation and Asia into an unprecedented depression. European companies could not be operating unscathed as they are heavily dependent on the US market for their livelihood as well. 17 18 Masaaki Kotabe and S. Gupta Mass media tend to portray the message that this will be the end of the Asian, and particularly Japanese, corporate juggernaut.

The turnaround of the US economy in a decade suggests that Asian countries are not standing still, either. First, we briefly summarize likely scenarios for each of the four regions/ countries that will shape the Asian economies for the next decade into the twenty-first century. 2. Second, we offer likely changes in perspectives in marketing practices and strategy development to reflect on corporate responses to crisis management. The Southeast-Asian countries’ scenario Thailand, which had borrowed money heavily from abroad, was the first to be hit hard.

On closer inspection, however, political factors did indeed play a significant though subtle role in the genesis of the crisis. The authors elaborate on these factors and their implications for the post-crisis environment in Asia. Chapter 18 by Beverly Kitching focuses on the position and experiences of women, people with disabilities and ethnic minorities in business in the new market system developing in China. The chapter raises and answers many issues about the position of women in China including greater opportunities for women to enhance their economic and social status; the proportion of new small businesses that they own and how these businesses are run; and, the career options open to women as well as the glass ceiling.

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