(1888PressRelease)
May 12, 2009 - Singapore – The current global crisis is a display of Asia’s new structural strength, and has accelerated the shift of economic and financial power from the West to the East.
The East Asian miracle – as heralded by the World Bank in 1993 – was a period where East Asian countries were steadily enhancing their role in the world economy, opening enormous trade and investment opportunities. Led by Japan, they created a unique model of capitalism, much different from the Western model, and characterized by the state-led industrial growth, dominance of family-owned conglomerates (or corporate shareholders in Japan) with weak corporate governance, and family-like pattern of labor relations. The 1997/98 Asian financial crisis put an end to this region’s “economic miracle” – in exposing the weaknesses in its Japan-inspired model of capitalism, the need to implement far-reaching change became even more evident.
Published by John Wiley & Sons (Asia) Pte Ltd, Asia’s Turning Point: An Introduction to Asia’s Dynamic Economies at the Dawn of the New Century (ISBN: 978-0-470-82360-6) presents a panorama of the Asian economies from after the 1997/98 crisis right up to the current period. A comprehensive introduction to the economies of Asia-2000’s, the book examines the critical forces that are shaping the Asian business and economic environment, covering topics such as the role of the state and government-business relations, corporate ownership, governance and management, labor markets, employment, entrepreneurship, innovation and financial problems, as well as regional integration and a number of specific sub-regional issues.
Post-Asian crisis, Asian countries began to reform their economies to adapt their systems to global standards in order to regain the economic foothold in the region and globally. It was an inflection point that brought Asian capitalism much closer to the capitalist system established in the West: growth no longer became predominantly government-led as the state began to curtail its policies of promoting and protecting strategic industries and domestic companies, while encouraging the latter to be self-reliant and competitive.
Asian companies began to boost their profitability, diversify and disperse corporate ownership through the inclusion of more “outside” (non-family) investors, largely foreigners, and establish workable corporate governance systems. Labor relations shifted away from a family-like pattern towards a market-based, contractual relationship -- paving the way for labor flexibility and performance-based evaluation. Asia and the West began speaking the same business language, hence facilitating working relations, but with Asia still retaining its unique culture, values and work mentality.
These structural transformations have since directed the Asian economies’ resurgence and rapid growth trajectory. They are growing fast again, and their role in the world economy continues to increase. As of late 2008 – early 2009, several big economies in the region have retained growth dynamics in spite of the blows from the current global financial crisis. Today, Asia’s financial sectors are healthy, and their management sound, with the appropriate regulations in place.
Asia’s Turning Point combines innovative concepts with lively descriptions of Asia’s economic, business and everyday life. Readers not only deepen their knowledge about the region, but also feel its flavor and pulse. The authors systematically examine all of the critical forces that are shaping the region’s business and economic environment in the 2000’s. It is a must for everyone engaged in international business, economy, or Asian studies or who wants to gain a broad yet deep perspective of the region.
The first part of the book looks at the East Asian miracle in retrospective, discusses the region’s new pattern of growth in the 2000’s and then focuses on its major structural transformations: of the state, businesses, and labor relations. Then it analyzes regional integration and the prospects for the East Asian community. In the second part, every chapter discusses the latest trends and developments in a particular national economy. A uniquely wide range of 14 national economies is presented: China, the four tigers, ASEAN-4 (Malaysia, Thailand, Indonesia, and the Philippines), as well as Vietnam, North Korea, the Russian Far East, India and, finally, Japan.
Asia’s Turning Point is unique in its range of issues and the scope of national economies it covers. At one and the same time, it is a treasure trove of information for business people, policy makers and researchers; a text-book for universities and business schools, an analytical publication with an innovative conceptual framework, and a fascinating non-fiction reading.
Additional information on the book is also available at http://www.wiley.com/WileyCDA/WileyTitle/productCd-0470823607.html.
Asia’s Turning Point:
An Introduction to Asia's Dynamic Economies
at the Dawn of the New Century
Published by John Wiley & Sons, Inc.
Publication Date: 24 April, 2009
US$29.95; Cloth; 350 pages; ISBN: 978-0-470-82360-6
About the Authors:
Ivan Tselichtchev is professor at the Niigata University of Management in Japan since 1994. He graduated from Moscow University in 1979 and joined Russia’s leading think tank, the Institute of World Economy and International Relations. He got his Ph.D. in 1983 and became Senior Researcher in 1984. Tselichtchev is the author of four books and co-author of many others. He has written more than 200 articles on the Asian, Japanese, Russian and international economy as well as on international politics, in English, Japanese and Russian. In 2005, the Committee of the Cabinet Office of the Government of Japan named Tselichtchev Seikatsu Tatsujin (A Master of Life) which means a person with outstanding achievements and lifestyle.
Philippe Debroux is a Belgian national and for over 30 years resident in Japan. He holds an MBA from INSEAD and a Ph.D. from Brussels University. He began his career in a Japanese company before entering academic life in the mid-1980s. He has since developed a successful career as a professor of business in Japan, Vietnam, Belgium and France while continuing in-depth field research focused on developments in human resource management, innovation and entrepreneurship in Japan and other Asian countries. His substantial experience in both business life and academic research give his work a particular cachet. Effectively combining theory and practice, his books and articles make a valuable contribution to our understanding of Asia.
For a review copy of the book or to schedule an interview with the authors, please contact:
Camy Boey
Public Relations Executive
John Wiley & Sons (Asia) Pte Ltd
DID: +65 6460 4257
E: cboey ( @ ) wiley dot com
About Wiley:
Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for over 200 years, helping people around the world meet their needs and fulfill their aspirations. Since 1901, Wiley and its acquired companies have published the works of more than 350 Nobel laureates in all categories: Literature, Economics, Physiology/Medicine, Chemistry, Physics and Peace.
Our core businesses include scientific, technical, medical and scholarly journals, encyclopedias, books, and online products and services; professional/trade publishes books, subscription products, training materials, and online applications and websites; and educational materials for undergraduate and graduate students and lifelong learners. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada and Australia. The Company's website can be accessed at http://www.wiley.com. The Company is listed on the New York Stock Exchange under the symbols JWa and JWb.
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